Assignment On Globalization
Assignment On Globalization
Assignment On Globalization
GLOBALIZATION
Submitted by - Submitted to –
ATUL KUMAR Dr. PRADEEP
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ECE-1 8TH SEM
AIACT&R
2020
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Globalization
Globalization is the process by which ideas, goods and services spread
throughout the world. In business, the term is often used in an economic
context to describe an integrated economy marked by free trade, the free
flow of capital and corporate use of foreign labor markets to maximize
returns and benefit the common good.
Advantages of Globalization
2. Ability to tap into a wider talent pool - When fully taking advantage of
globalization, you are no longer restrained by talent that is available in your
city. Today your global workforce could work from anywhere in the world
with an internet connection opening you up to the brightest and best
candidates the entire world has to offer.
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5. Globalization encourages free trade - Borders create restrictions to
the free flow of goods and services. One example of this issue is a duty
and taxes paid on imported goods originating in the U.S. when purchased
in Canada. These taxes apply on luxury items and other items of high
value. The HST in Canada may be collected at a rate of 13%. Canadians
use shipping service receptacles at locations like Point Roberts, WA to get
around this tax simply because the laws haven’t globalized like our access
to goods.
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4. Globalization would negatively impact the environment - We’ve
already seen what free trade does to the environment. Greenhouse gas
emissions rose in 2018 despite efforts to curtail them. Micro-plastics
invaded our oceans, creating negative impacts on marine life. The waters
of our planet are slowly acidifying, creating economic and health impacts
every day. Over 200,000 Americans die each year because of pollution
exposure. If caps are taken off of what is not permitted through
globalization, then this issue will continue growing worse.
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