blessings of globalization

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Issue:

Miscellaneous

 

Written by:

Linda A

 

Date added:

December 2, 2013

 

Level:

University

 

Grade:

A

 

No of pages / words:

3 / 692

 

Was viewed:

2187 times

 

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Essay content:

Industrially advanced countries make better use of their technology and capital by exporting it to less developed or poorer countries, which in turn make better use of their cheap and abundant labor by exporting their lowtech and labor-intensive products to the richer countries! Globalization also leads to economic integration and convergence in economic policies around the world...
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Economic integration leads to economic growth through reform and harmonization in the countries' fiscal and monetary policies, tax systems, ownership patterns, and other regulatory arrangements. But there are costs as well. There have been waves of globalization in the past: in the United States (1870-go and circa 1970), Western Europe (189o-1913 and 1950-92), and Japan (1913-38)...
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