The Concept of Globalization Essay Example | Topics and Well Written Essays - 250 words

The Concept of Globalization - Essay ExampleBusinesses and markets across the origination are now linked such that a business in genius country buttocks fork up customers from any part of the existence. This is as a result of expanded business operations and user-friendly access of world markets resulting to globalization of markets. Advancement in IT has aided in removing physical barriers like boundaries. Factors of turnout are central in the globalization process since nations exhibit differences in quantity and quality of these factors (Lechner, 2009). Nations that mystify less of one or more factors e.g. labor tend to seek it from others while they export what they have in surplus e.g. food in case land is put into proper use. Due to this interaction global institutions have emerged e.g. UN, IMF and The World Bank among others that control interaction between nations (Haugen and Mach, 2010). Some offer credit, others control peace and stability while others ensure cred ibility of international trade. Globalization has turned the world into one big market place where nations showcase what they have in plenty and seek what they are miserable of. Consumers are now free to shop for commodities from any part of the world. In the process goods and services, money and tillage are exchanged making the world to be one big community. References Haugen, D. M. and Mach, R. (2010). Globalization. Greenhaven. Lechner, F. J. (2009). Globalization The making of world society. Wiley-Blackwell.