Difference between revisions of "The increasing globalization of markets"
| Line 7: | Line 7: | ||
Globalization is the growing interconnectiveness reflected in the expanded flows of information, technology, capital, goods, services, and people throughout the world. Therefore the globalization of markets is the growing interconnectiveness of markets, like financial markets, labour markets, trade markets etc. | Globalization is the growing interconnectiveness reflected in the expanded flows of information, technology, capital, goods, services, and people throughout the world. Therefore the globalization of markets is the growing interconnectiveness of markets, like financial markets, labour markets, trade markets etc. | ||
Causes of Global Shift - Two factors underlie the trend toward the increasing globalization of markets and of production. The first is the delcine in barriers to the free flow of goods, services, and capital. The second factor has been the dramatic changes in communication, information, and transportation technologies. | |||
Consequences of Global Shift - First, companies need to recognize that industry boundaries do not stop at national borders. Second, the shift from national to global markets has increased the intensity of competitive rivalry in industry after industry. | |||
==Enablers:== | ==Enablers:== | ||
Revision as of 05:26, 15 November 2005
Draft
Description:
Globalization is the growing interconnectiveness reflected in the expanded flows of information, technology, capital, goods, services, and people throughout the world. Therefore the globalization of markets is the growing interconnectiveness of markets, like financial markets, labour markets, trade markets etc.
Causes of Global Shift - Two factors underlie the trend toward the increasing globalization of markets and of production. The first is the delcine in barriers to the free flow of goods, services, and capital. The second factor has been the dramatic changes in communication, information, and transportation technologies.
Consequences of Global Shift - First, companies need to recognize that industry boundaries do not stop at national borders. Second, the shift from national to global markets has increased the intensity of competitive rivalry in industry after industry.
Enablers:
- Increase in technology especially information technology
- Increasing participation of China and India in the global markets
- Decreasing power of communism
- Increasing power and number of global companies.
- Decreasing Psychic (or cultural) Distance
- Increasing Power of community ex)WTO, OECD, IMF
Paradigms:
Market globalization decreasing the control on unemployment, GDP fluctuations, etc. Laws and regulations should therefore be made on a global basis.
Possible decreasing power of governments and increasing power of companies, which set a totally different political and economic arena. The rules to adhere to in this situation has yet to be created.
The globalization of markets can benefit—and has benefited—rich and poor alike. But the integration of the global economy is outpacing the development of a healthy global polity. To realize the values and rules critical to a secure and just world—and to make the full benefits of a global market available to all—will require a better global politics.
If the globalization of the market leads to continents or countries which cannot compete anymore, trade barriers (= de-globalization) might be a counter reaction.
Experts:
TBD
Timing:
TBD
Web Resources:
[[1]] Direction of exports under increasing globalization of markets
Contribution to the International Communist Conference Athens May 1999
[[2]] Global Markets Require Good Global Politics