The abandonment of the European Union (EU) by Britain Summary The abandonment of the European Union (EU) by Britain in 2019 signaled an unexpected transition in international trade and business. According to Goodman (2019), the successful departure of the UK signals that the idea that global economic integration contributes to human progress has fallen to an era where national concerns take precedence over collective interests, with a majority of trade arrangements done on a bilateral basis (Goodman, 2019). Since the aftermath of the Second World War, international business has been guided by a multilateralism mindset where multilateral agreements between nations have fostered and strengthened exchanges among each other. Nonetheless, Britain is changing this approach to international business as it will have the freedom to secure bilateral trade deals with major economies such as the United States and China. As a result, Brexit is a noteworthy event because its success will set an example for other countries dissatisfied with the multilateralism approach to business to try alternative methods to international business. Analysis After reading the article, it is evident Britain’s move…

Globalization speech Globalization has been defined differently by various scholars, but most of their definitions revolve around the growth and development of world economies. In his talk about “Navigating our Global Future”, Ian Goldin associate globalization with an increase in the world population and growth of GDP. On the other hand Pankaj Ghemawat in his talk on “Actually, the World is flat” defines globalization as the way people or countries interact and integrate to form one big global economy. In simple terms, globalization is the process by which businesses or other organizations develop international influence or start operating on an international scale. A globalized world allows free movement of goods and people across international borders. The speakers have touched on various impacts of globalization. According to Ian Goldin, globalization has made developing countries to have easy access to technology, capital flows, cheap and larger imports and exports and substantial human capital. All these contribute to an increase in national GDP. He adds that globalization removes the inequality that exists between African and European countries — however, the associated globalization with…

Myths of Globalization review In the article Myths of Globalization, Susan and Yoram analyze international marketing and globalization. In this article, every firm should be able to adopt an effective marketing strategy to get the global share. This article, the key to success in the global market, is the development of effective marketing strategy and standardized products — the article study why standardization of product is believed to be necessary for the global market. The paper is divided into four main parts: traditional international marketing, the effectiveness of standardization of products, barriers to standardization, and finally, the combination of standardization, and a general approach in the international market. Traditional marketing strategy involves the adoption of uniform strategy or meeting specific market conditions. Uniform strategy is believed to give the firms a competitive advantage over other firms in the global space. However, meeting specific market conditions brings more success than a uniform strategy. Every market in international trade has its specific minimum requirement, which must be met by every firm. Issues to do with tariffs, quality, and value addition are necessary…

Globalization developments Globalization developments compromise the sovereignty of many states.  Sovereignty allows nations to safeguard liberty and individual decision making.  Globalization opens up nation boundaries and allows free interaction of states facilitating; trade, social, and cultural interactions. Reducing barriers across nations is seen as a threat to the global economy. However, global interactions have existed for a long while now. Advancements in the communication and transport networks have opened up nations and made interactions easier. Globalization has changed the way governments interact with each other, particularly in the field of trade and commerce. This paper analyzes how globalization has influenced the sovereignty of Global south states considering economic and social policies. Globalization mainly favors the western countries meaning that other nations, particularly from the Global South, are disadvantaged. Nations such as America and Europe accrue the most benefits resulting from Globalization. They can strengthen their economies through raw materials acquired from the global south. The global south nations include; Africa, Latin America, and some parts of the Middle East. The governments widely rely on subsistence agriculture for survival. The global…

Switzerland embrace of globalization Globalization has positively affected Switzerland, making it a globalization winner in terms of trade with the most significant growth in real GDP per capita. Switzerland has gained the highest economic profits from global interconnectedness. Switzerland embrace of globalization has made it benefit in many ways. Firstly, Switzerland has been able to sign over 100 trade deals between itself and the European Union countries and has joined major economic organization such as WHO, EFTA, and OECD which have been very crucial in opening Switzerland’s economy to the international markets for trade. The international business has enabled Switzerland to concentrate on the production of specific products in which they have a comparative advantage. Secondly, globalization has raised competition in Switzerland tradable goods sectors. International trade has enhanced productivity in the local production line since imports can easily substitute some of the goods. International trade foster relocation of resources towards more productive industries. Thirdly, Switzerland’s economy’s openness has led to higher labour productivity through fostering capital accumulation. Also, Switzerland’s access to international capital has facilitated the solving of domestic…

Students’ Post Replies Kelvin Bontomsi The Covid-19 virus is the menace of the economy in all dimensions. To start with, it is ruining the available labour in the market by taking away the lives of the in the fast rate. The death rate means very soon; companies will suffer the workforce and hence reduced productivity. But just before that, the immediate effects are reduced commercial activities due to restriction of cross boundaries to and fro the country. The constraints imply that no imports or exports will be transacted from nation to nation. The consequences are not simple and have the worst to the economics dealing of the US and global market as well. Seunghyun (Jackie) Park The epidemic was something unplanned, and therefore various states have taken different approaches depending on their ability both financially and available health standards. The virus is horrible, and thus no one is ready to take the situation lightly. All people in the world have united to help minimize chances of spread of the disease in society. Being a killer disease, Corona Virus for the…

Neoliberal globalization Globalization The term globalization refers to the process of trading and movement between different countries. The international trade department regulates traders. This leads to the development of private industries and other economies into the global market. Neoliberalism The term refers to the protection of rights by the international trade department that regulates trading. Its principal is to reduce government interference in trade activities. It promotes the free market and lowering trade barriers while removing regulations at international markets. It also promotes resource privatization. Globalization and neoliberalism have an impact on people, economies, and the environment. Women are the most affected as they seem to provide cheap labor. In the building that collapsed in Bangladesh, most of the people who perished were women. They were working in the garment industry, which was producing clothes that were meant for export purposes. The company was making clothes for internationally recognized brands. The working conditions are not conducive since the workers work for long and under lousy working conditions. They were forced to work, and they are given minimal wages. The developed…

 pros, and cons of globalization in third world countries Globalization is the process by which different cultural societies and regional economies integrate through a worldwide channel of political ideas (Macgregor, 2014). We cannot afford to ignore globalization, for the altitude and views in it are inevitable and its effect on social life. The issue is critically important as they affect day to day ways of living of people and economic growth of the entire world. In this regard, the ultimate purpose of this paper is to outline the key features, pros, and cons of globalization in third world countries. The main key feature of globalization are; product standardization, world markets, sharing of ideas, and freedom standard. The world today has become a global village, where one can buy a product in the worldwide market using an ecommerce platform. (Moghadam, 2013). Due to technological advancement in production in global markets, there is a need to improve on the stands of goods and services. Competition has made goods to be available at a lower cost. Social interaction of people during trades has…

Issues facing European societies today Introduction As teachers, the role of producing global students, who reflect interconnectedness and informed perspectives, depends on our knowledge of both historical and current issues affecting global societies. Therefore, teachers need to try and understand some of the most current global problems affecting different geographical regions and communities living in these regions (Salvatore et al., 2019). This essay will review and discuss the most significant issues affecting European societies today. Additionally, the article will discuss the role of the USA in addressing these issues owing to the long interrelationships between the US and most European communities. One of the most significant issues affecting European societies today is the issue of economic decline within the European Union leading to a state of the economic crisis in the region. According to an article by sociology author Kai Lehman (2014), “it is common today, even in European media to treat the current economic crisis of the European Union almost as an economic crisis” (p. 33). Another issue facing European societies today is the persistent problem of immigration. Europe…

Anthropological Review on the Book “the Devil behind the Mirror: Globalization and Politics in the Dominican Republic” The “the Devil behind the Mirror: Globalization and Politics in the Dominican Republic” is a book by Steven Gregory. Gregory makes arguments in six areas. These areas are the politics of livelihood, the spatial economy of difference, the structure of the imagination, sex tourism, and the political economy of masculinity, race identity, and the body politic and also the politics of transnational capital. The author has provided varied arguments on the areas mentioned above. The book review will look into these arguments by the author, their strengths, and their weaknesses. Besides, the discussion will also look into the methodology and conceptual lens employed by the author of the novel. The author of the book provides the accounts and the impacts of the transactional processes that are attributed to globalization. Also addressed are the effects of the operations on the lives of people and livelihood. The author has based his case on the people of the Dominican Republic (Morris, 2018). In his work, Steven…