For Academic Expert email from my teacher when i asked about grade and assignment with notes in red from her

Globalization

Geralisa Eades

Argosy University

Globalization can be simply defined as the removal of trade barriers between countries. This is not a definition of globalization, were you perhaps making reference to free trade. Also citations are needed that indicate the source of the information. People can exchange ideas and products in order to satisfy the need of the other party. The process of globalization began in the early 1990s. Globalization is characterized by reduced tariffs and costs of transportation. It was boosted when India, China, and the economies of Eastern and Central Europe integrated with the world economy. Incidences that indicate trends in globalization are discussed below;

Less developed countries experience higher population growth rate than developed countries. In less developed countries, there is high fertility rate, and high birth rates. The total population of the world has been affected by people moving from one country to the other in search of better employment opportunities and education and training among others. Globalization, therefore, has facilitated the movement of people from one place to the other.

Increased level of technology around the world has been facilitated by sharing of ideas by different countries in order to find better methods of production. The use of technology has been adapted by many countries since it is efficient in terms of cost and time. Many countries have experienced economic growth and development because of the use of technology. Many people are now employed and have become innovative.

Before countries started trading, many countries would depend on others for donations; that is, they could not depend on themselves. Exchange of ideas and products enabled these countries to produce their own products and they became independent. Many countries all over the world can now meet and discuss a common goal such as how to deal with global warming.

The government of a country has the authority to set laws that govern its trade barriers. These laws are set in order to govern economic activities of the country. The laws also protect domestic producers from foreign producers who produce the same commodity.

Mercantile stage refers to the economic system that was used between 16th and 18th century. The major aim of this system was to the wealth of a nation by coming up with regulations that are of interest to the nation. During the period, it was believed that maximizing national strength would be achieved by reducing the amount that entered the country as imports through tariffs and export maximization. Source???

The approach of mercantilism assumes that the wealth of a nation depends on the amount of precious metals (silver and gold) that people possess. With the current trend current trends have not been discussed in this work in globalization, people cannot go back to the mercantile stage. The world economy would be stagnant if all the countries wanted to export their products and none would want to import. There are countries that do not have land for cultivation. It will force these countries to import vegetables from other countries. There are also countries that do not have water that can support fish for everyone who needs the food. They, too, will be forced to import fish. People come up with better methods of production daily and these ideas will be needed by the rest of the world.

Liberalization and free trade can exist in the world economy but with some regulations. If there are no regulations set by the government, the country’s economy can be flooded and many people would be rendered jobless.

Reference

Amin, S. (2011). Global history: A view from the South. Cape Town, South Africa: Pambazuka Press.

Johnston, H., & Almeida, P. (2006). Latin American social movements: Globalization, democratization, and transnational networks. Lanham, Md: Rowman & Littlefield.

http://www.loc.gov/rr/business/BERA/issue1/trends.html

Ervin, J., & Smith, Z. A. (2008). Globalization: A reference handbook. Santa Barbara, Calif: ABC-CLIO.