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Globalisation

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Introduction

Globalisation is expressed as a connection between communities globally. In an economic sense, it is the growth in international trades, investments and capital flows. It bridges the gap between countries through technologies and communications.

As Friedman (2000, p9) states “it is the inexorable integration of markets, nation-states and technologies to a degree never witness before – in a way that enables individuals and corporations to reach around the world further, faster and cheaper than ever before…”.

The key aspect to globalisation is to increase growth. Though globalisation does bring benefits and opportunities to developing countries – many argue that globalisation will widen the income gap between the rich and poor.

For Globalisation

Developing countries will see a growth in their economy. Carbaugh (2009, p21) mentions that open borders permit new ideas and technology to flow freely around the world. Multi-national corporations(MNC) that tap into these countries experience free trade between nations and inexpensive production sites, as such, jobs are created. Wages given tend to be better than other local similar opportunities or position – jobs that require higher skill set is a catalyst for increased education level.

With high trades and investments, it stabilizes and stimulates the local economy and raises the standards of living. Yeates (2002, p10) points out that globalisation creates consumer choice and prosperity for all, but especially for consumers of commodities or services in the new global economy.

The western corporation culture can create an environment of non-violence between the nations. International peace and economic cooperation will reduce the likeliness of international disputes. Additionally promotes positive values, non-violent conflict resolution and equality.

Against Globalisation

Due to the

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