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The Four Aspects Of Globalization

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INTRODUCTION

Globalization is a very large entire marketplace towards integrated and interdependent world for improving efficiency and yields and reducing production. It is a complex process which link people, businesses or other organizations around the world to develop trade, investment, technology, education, information and communication or begin to operate as an international scale. It is same as Robert’s finding (2011), which stated that globalization is the process of interaction or integration among people, companies, government by different nations, through international trade and investment and aided by information technology. On the other side, the information in the Investing Answer (n.d.) has defined that globalization is an integration …show more content…

Every economic activity such as village markets, urban industries, or financial centres have extended besides national boundaries of the same market forces. For current globalization, the foreign direct investment, the decrease of trade barriers or other economic reforms can be largely constituted for by developed economies combine with developing economies. Other than that, during 2000, there are four basic aspects of globalization, which are trade and transactions, capital and investment movements, migration and movement of people, and the dissemination of knowledge that had been identified by the International Monetary Fund …show more content…

Economic Development
According to Richardson (2000, p. 2) and Dierks (2001, p. 63), they noted that because of globalization has extremely decrease the barriers between countries through eradicate of tariffs and import duties, therefore it can help the developing countries to maintain their economies by taking advantage of trade. The process of reducing the barriers were committed by the World Trade Organization (WTO). From trade, it would be more benefits to low-income countries compared to high-income countries. This is because high-income countries can take the advantage of internal trade within its economy.

Besides that, the increase in globalization has effect to the rise of capital flow into developing countries’ economies. Developing countries have also gained in terms of raise financing through loans and grants from developed countries (Aurifeille, 2006, p. 254). This is true because the rise in capital inflow work for the object of improving economic development in a country.

2. Technological advancement and knowledge

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