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¶ … WORLD TRADE MAKE THE WORLD SMALLER/DIVIDE THE GLOBE?
Does World Trade Make the World Smaller by Bringing People Closer Together, or Divide the Globe by Creating Winners and Losers?
World trade is the exchange of goods, capital, and services across international borders without any restrictions. Every person or corporate body has a right to practice trade in any part of the world so long as the traders conform to the laws and regulations in various countries they are practicing the trade. It is true that world trade is making the world smaller by bringing people closer together because no one is restricted from trading with anyone in any country all over the world (Topik & Pomeranz, 2014). However, traders interact on a daily basis or even frequently through exchanges of goods and services for money and the exchange of ideas on how to improve their particular trading activities. Traders are coming closer together but it is not necessarily in contact together physically, but through exchanges of goods and services through other means.
Currently in the digital era, transport and communication have been enhanced to an extent that a trader order for goods and receive them within the shortest time possible without...
World trade has brought such traders closer through modern trade and communications means (Peters, 2016). For instance, some traders might be trading for a long time with good trade relations without knowing each other physically. Besides, the trade has not only brought people together but also create trustworthy among the people participating in the trade. A trader can order the goods from another country and pay for them with maximum trust that he/she will receive the goods on time and in good condition. It is bringing people together closer because the traders would spend more time traveling between different countries to go and order goods physically wasting more time and resources (Bernhofenet al., 2016). The current communication through the internet, mobile devices, and other means has made world trade simple, bring people trading closer, and enhanced the relationship between people from different language groups, tribes, origins, and religions.
World trade has not divided the globe by creating winner and losers. When anyone is entering into a trade or starting a business, he/she two options at the end of a given period. The options are making either a profit or loss, which translate to…
References
Bernhofen, D. M., El-Sahli, Z., & Kneller, R. (2016). Estimating the Effects of the Container Revolution on World Trade. Journal of International Economics, 98, 36-50.
Drache, D., Rioux, M., & Longhurst, P. (2016). The Rich List: The Global Corporate Race to Be Number One. Available at SSRN 2752752
Nurdianto, D. A., & Resosudarmo, B. P. (2016). The Economy-wide Impact of a Uniform Carbon Tax in ASEAN. Journal of Southeast Asian Economies (JSEAE), 33(1), 1-22.
Peters, M. E. (2016). Five Goods vs. People: Immigration and Trade Policy in a Globalized World. Handbook on Migration and Social Policy, 87
For instance the World Trade Organization reports having "allowed First World countries to raise trade barriers protecting their companies, even as we have served as their forum for insisting that Third World countries lower their trade barriers more and more." (WTO, The truth is that if richer nations were to open their markets to the LDC countries for increase opportunities of export, generated would be approximately $700 billion in additional
As a result, political reforms and adjustments of foreign strategies are engulfing the whole world. (China and its Reactions to Globalization) Therefore, as the economic changes and reforms in China interface with the international community, the structure of the countries governance also changes. This has led critics to claim that new models of government have begun to emerge in China. But they also suggest that these new models "…differ considerably from
Finfacts.com/brands.htm Levitt, T. Globalization of markets, Harvard Business Review Ritzer, G. 2004, the Globalization of Nothing, Pine Forge Press, California. Arnoldy, B. Australia at the crossroads of globalization http://www.csmonitor.com/2006/0307/p01s03-wogi.html James, P. Australian Social Attitudes Australian Humanities Review 2006 avaliable online: http://www.lib.latrobe.edu.au/AHR/archive/Issue-April-2006/james.html Arnoldy, B. Australia at the crossroads of globalization the Christian Science Monitor http://www.csmonitor.com/2006/0307/p01s03-wogi.html Garrett G., Globalization's Missing Middle Foreign Affairs 2004 http://www.foreignaffairs.org/20041101faessay83608/geoffrey-garrett/globalization-s-missing-middle.html Sauer-Thompson, G. Globalization and Australia's future: a big worry http://www.sauer-thompson.com/archives/philosophy/002932.html The Economist Intelligence Unit Sauer-Thompson, G.
This shift in Hong Kong's economy as a response to a more open Chinese economy has been explored in detail by economists and academics. This relationship is reciprocal and not one-sided, as China benefits from increased numbers of jobs and industry that are imported from Hong Kong, and Hong Kong benefits from the increase in service jobs and a higher quality of life and income provided by the move to away
Globalization profoundly alters relationship global North South The international exchange and integration of economies, societies, cultures, and governing policies play host to the worldwide phenomenon known as globalization. Countries interact through transportation, trade, and communication; inherently influencing the respective realms of economy and political agenda. Traditionally, globalization is highlighted by this integration of economic and political systems across the globe, however this exchange transcends into societies, ethics, cultures, industry, ecological
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