Globalization -Boon or Bane?
Globalization which implies a trade towards more integrated and interdependent world
has long been an issue of ponder among countries. Globalization according to some
economists is important and inevitable for the economic tuition of the world.
But others feel that it is a threat to employment. Environmentalists fear globalization
would closure in deterioration in the environment and increase pollution.
The dialogue in the Uruguay round (1986-1994) resulted in the formation of World Trade
placement (WTO), which brought down many international trade barriers. WTO
came into existence subsequently amalgamation of GATT and other trade promotion groups.
The WTO is the chief arbitrator, which deals in trade related disputes between
countries and has contributed to the acceleration of globalization.
The rate of globalization has change magnitude due to the abolition of barriers to both trade
and free flow of hood around the world. The abolition of barriers may generate
more wealth and theoretically raise the standards of alive in the global economy.
Some vitamin E Asian countries that quickly integrated into the global economy proverb rapid
growth in their economy and reduction in poverty.
agree to the World Bank, the
wages of 3 billion mass living in globally integrated countries like China, India,
Hungary and Mexico rose, and the number of people in poverty declined.
The activities of multinational companies are based on the idea of globalization.
International marketers can take advantage of the colossal world markets, increased
investment opportunities, easy capital inflows, cheap imports of earthy materials,
technology, etc. However, some analysts believe that poor countries do not stand to
This caselet was written by Mylavarapu Vinaya Kumar, under the direction of D.G. Prasad, ICFAI
concern for Management Research. Caselets are intended to be used as a basis for class discussion rather
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