Impact of Globalisation on our Economies
Honored guests and other distinguished participants, thank you for your kind consideration to attend this conference that is going to embrace the effects of globalization and the interrelationship with technology, financial markets, international trade, and other related factors enabling the development in our economies. From my interaction and research of the concept and history development of globalization, I could define it as a process of communication and integration of governments, companies and people of different nations being driven by the international trade, financial markets, and information technology. This shows that from the very beginning, globalization had a significant impact on many various governments, and its concept of development is the one that is going to shape the way of running the future global economy.
Drawing an example from the financial markets and the international trade between countries and government relations we see as a specific currency goes, it affects another currency by going down. For example, reflecting between the Japanese Yen and the USD dollar as one money goes up, it affects the other by going down. This indicates how globalization is of advantage to different economies, and also it shows how it is of disadvantage to the same prosperity. Moreover, also reflecting on the market sector, let’s say as the quality of Vodafone increases, it also affects the various supply of other mobile market trades. This shows how globalization is of disadvantage and also of advantage in multiple ways.. Don't use plagiarised sources.Get your custom essay just from $11/page
As I conclude, it is well evident globalization is the key factor that is driving our global economies, and this is by creating competitions in the market and the international sector. This shows that it is helping the worldwide marketplace of the technological development sector. It all ends well that future prosperity depends on the concept of globalization. Thank you for your time and kind considerations.
Reference
World Commission on the Social Dimension of Globalization. (2004). Fair Globalization: Creating opportunities for all. International Labour Organization.