Globalization issues

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Issue:

Social Issues

 

Written by:

Rodney A

 

Date added:

August 8, 2014

 

Level:

University

 

Grade:

A

 

No of pages / words:

5 / 1205

 

Was viewed:

1452 times

 

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Essay content:

The two world wars and the Great Depression between them interrupted the process of global market integration for about half a century. Thereafter, the process regained force and speed. Now, inexpensive, fast, and reliable communication and transportation enable producers of goods and some service providers in low-wage countries to challenge high-cost producers in rich countries on their home turf, but technological innovation resulting in falling prices and rising speed of intercontinental communication and transportation is not the only determinant of globalization...
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Political decisions in rich and poor countries alike contribute strongly to globalization, too. Tariffs and, to a lesser degree, nontariff barriers to trade have been reduced. Many countries try to find and exploit their comparative advantage, to realize economies of scale and gains from trade by looking for buyers and sellers everywhere...
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