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Globalization: A Case Study

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Globalization
Globalization is the procedure by which industries or businesses and organizations advance or develop international influence or start functioning and working on an international gauge. According to Goudzwaard et al. (2014:216) globalization is one of the most commented on realities of our time, an almost unbroken stream of books and articles flood the marketplace.
Globalization as a Satellite
Referring to Goudzwaard et al. (2014:216) globalization refers to companies or institutions expanding their reach to embrace what occurs in the world or in the global market, because for many producers the national economy no longer serves as an adequate economic platform, more and more entrepreneurs have begun to pursue business opportunities and possibilities in the world as a whole. Goudzwaard …show more content…

(2014:217) states that a number of decades ago, the multinational corporation appeared using its motherland as its home base, and a multinational opened up places of business in various other countries. The transnational company has no specific ties to the mother country and no longer seeks such royal-ties. A second example according to Goudzwaard et al. (2014:217) is the rapid emergence of so-called global capital that refers to short-run capital circulating in enormous quantities around the world. Former managing director of the International Monetary Fund which is Johannes Witteveen identifies three types of private capital flows occurring: (a) foreign direct investments which cannot be easily withdrawn; (b) portfolio investments; and (c) short-term loans in foreign currency. Global capital belongs only to its own autonomous circuit around the globe and it is primarily virtual and yet it plays a coordinating or governing role over the process of globalization itself. The third example according to Goudzwaard et al. (2014:218) can be found in pattern of consumption, communication and globally specific symbols of consumption have now

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