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Do You Agree With The Benefits Of Globalization

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The world has changed, and this is because of Globalization. Globalization is a process of global economic, cultural and political integration. It is one of the most tremendous impacts the world has experienced, especially on the economic sector since it has defined our global economy on the last couple of years. It has benefited countries throughout the years, however, now it has become a controversy. People have started to argue about their country 's situation and wonder if they are being affected or benefited from this action. There are many discussions among economists regarding gains from globalization, however, there is always two sides of the story, or better said, those who decide to see it as a win or those who decide to see it as …show more content…

The north-south trade effects in developed countries can be seen through the last decades. Multiple changes in policies and regulations have allowed a more global free trading community. Since countries wanted to gain from trade, they needed to achieve mutual gains. The search for mutual benefits generated specialization, which in a globalized world, came in a much bigger level. Since countries are different from one another in terms of resources, they are able to exchange goods in which they have a comparative advantage. This suggests, that if resources are limited, there are always trade-offs to produce more of one good, as the economy sacrifices producing another good. A country may not be the world 's best at producing something, but the trade-off is worth it by exchanging those goods with other countries. Even though some developed countries may have the absolute advantage in producing most goods, by focusing on the industry in which they have the largest comparative advantage they are more likely to increase their economic growth. Basically, comparative advantage is the main reason for free trade agreements. In this way countries reduced trade barriers such as tariffs to allow a free trade. For developed countries like the US, this was a great way to gain from regional affairs, by engaging in multiple trade agreements with Latin-American countries, the European Union and some Asian countries. It is important to also mention the creation of the WTO in 1995, founded by mainly developed countries like the US to regulate trade barriers and prevent countries from using trade policies to harm each

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For any country that wants to survive in the toughest of times, they need to have good trading capabilities. Very few countries are able to sustain themselves without indulging in intensive trade with other countries. Trading has been considered a good thing in the past, but with the changing world, there are doubts about the benefits of trading. There are some factors that lead to the development of trade networks between countries. When people started to settle in larger towns, the idea that you had to produce absolutely everything for survival, began to fade.

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Throughout Canadian history, free trade in particular has changed Canada and it’s economy for the better. The free trade agreement (FTA) signed in 1989, assisted Canada’s economy in many ways, such as removing most of the tariffs on trade goods, increasing trade with the USA, and leading the way to the creation and signing of the North American Free Trade Agreement (NAFTA). All of these boosted Canada’s economy and strengthened the bonds with new and old trade partners. After this agreement was established, it becomes clear very quickly that the FTA was exactly what Canada needed. As well as opened new doors to opportunities for Canada.

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Benjamin Franklin said, “No nation was ever ruined by trade.” During the early modern era, technological advancements in shipbuilding and increased knowledge on wind and current patterns made global trading possible. The increased flow of trade in the 1300s through 1800s created important social relations and economic opportunities due to the increased integration of foreign people and desire to be wealthiest and most powerful, while improving government, culture, and ideas in the modern world. Global trading increased the spread of people, which also increased the spread of religion and culture.

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Henceforth trade became more efficient and faster paced in correspondence with the high productivity of the factories. “(Before the Industrial Revolution), one person doing all five required steps in manufacturing a product can make one unit, (but during the Industrial Revolution), five people, each specializing in one of the five steps, can make ten units in the same time” (Document 4). New methods in manufacturing increased productivity. Since products were manufactured faster, the output of the product increased as well as the economic prosperity. With the growth of the economy an

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In this case, this gave Europe access to exports that they could take advantage of and use for themselves to expand their nations,

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Globalization in the past 80 years has connected our world exceptionally well compared to the years before. Just under 80 years ago, when World War II ended, people saw an opportunity to grow together and learn from past mistakes. Globalization has brought the world together which has caused poverty rates to go down, work systems to become stronger leading to more accessibility, and overall life expectancy to increase. Globalization has forever changed the ways of the world and will continue to benefit people by bringing us together to become one substantial world. Globalization has benefited our world involving the decrease in poverty rates.

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There was a need for new markers to sell new American products. The government supported overseas trade, and conquering the territories that made trade easier. Imperialism provided incredible economic benefits that the United States took advantage of. The cheap labor and resources that were available for them in their newly acquired territories strengthened the country’s economy. The US Industrial Index document shows the enormous increase in US industrial production.

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They might say that trade allows you to have fruit and vegetables in the dead of winter, but they don 't stop to think about the human cost of having that food. They don 't think about the people being worked to death on plantains growing the food every day of their lives. They may be happy that globalization has made their country rich and that it keeps getting richer, but they don 't consider the developing countries how have people dieing of starvation everyday while they have too much food to eat but it is never reported by the media an aspect of globalization because isn 't an interesting enough story. But overall globalization isn 't a totally bad thing it just has some issues it has proved aid to countries when they need it and spread cures to diseases that killed many people. It is also leading to a global community that is uniting more countries in peace.

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Finally, there will be some counterarguments opposing comparative advantage theory. Ricardo’s basic idea about the foreign trade is that it is beneficial and that all members can gain advantage if each country produces what it is specialized in (Ricardo 1817). He provides an example of Portugal and England producing both the cloth and the wine, which have to spent different amount of resources on the production of two given goods. If Portugal has to spent the labor of 80 people for one year on the production of the wine or 90 workers on the cloth, England may need 120 and 100 people for this. Although, Portugal has an absolute advantage, which means it requires less resources on both goods, it is better to produce the wine only and exchange it to the cloth from England, since England has comparative advantage in the cloth: if it uses 100 labor for the cloth, it loses 5/6

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Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. This process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical well-being in societies around the world. The most common example of globalization might be Ebay or Amazon. Nowadays flows of goods and services are not only cheap and fast, but reliable and secure.

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Firstly, globalization only serves the interests of developed countries like the US, European countries, China, Singapore more than developing countries such as Vietnam, Thailand, Africa (Is globalisation, n.d.). According to Lianna Amirkhayan (n.d.), the uneven distribution makes a big difference in income between developed and developing countries. The rich countries still maintain their wealth which even double rich, compared to developing countries. Secondly, globalization creates a moving wave among people in developing countries. They move to other countries to find a better chance to work.

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As the saying goes, “there are two sides of a coin.” In the same way that globalization can be a boom for international trade; it can also have devastating effects. This essay highlights the benefits and adverse effects of globalization in the Pacific. It will also discuss how the government has adopted policies and trade agreements to keep up with the accelerated pace of globalization and how we the people of the pacific can deal with the biggest threat to our region which is “global warming” and its effects. Benefits of Globalization in the Pacific Free Trade Free trade is probably the biggest benefit that globalization has brought about.

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