What is globalization Essay Example for Free

What is globalization EssayGlobalizationThe following leave alone elaborate on globalization, and some theories on traditional trade. AlsoGlobalization as defined by Charles Hill, of the University of Washington refers to the transfigure toward a more integrated and interdependent world economy. Globalization has several facets, including the globalization of markets and the globalization of production. let loose trade is an example of a situation where government makes no attempt to influence what its citizens can defile from other countries. Under the free trade system Smith, 2009 argued that the in visible hand of the market mechanism, or else wherefore government policy, should determine what a country imports and what it exports. When looking at globalization there atomic number 18 two major factors. The first is the bloodline in barriers that could have impeded the free flow of goods, services, and capital. This decline in barriers has been on going since the end of orbit War II. The second factor is the changes in technology. engineering science has in recent years has allowed dramatic developments in communication, information processing, and an easy in transportation, that past businesses did not have. (Hill, 2009)One example of a declining barrier to international trade that occurred after World War II was the global Agreement on Tariffs and Trade (GATT). The goal of GATT was to remove the barriers to the free flow of goods, services, and capital between nations. finished eight rounds of negotiations among members of state this was accomplished. From GATT the World Trade Organization (WTO) was also plungeed. The WTO was established to police the international handicraft system. (Hill, 2009)The lowering of trade barriers made globalization of markets and production a theoretical possibility (Hill, 2009). Since the end of World War II the gains of technology have exploded. The world has seen major advances in communication, information processing, and transportation technology.telecommunication gives even the smallest companies the ability to gain a global audience. When the com clotheer was first introduced, the computer could easily get hold of a room and was capable of only a few hundred computations per minute, with a cost the put even the thought of owning a computer in the hands of the government. With the invention of the microprocessor the cost of computing was importantly reduced while the power of the computer change magnitude dramatically. As a result the lower cost oftechnology companies today can communicate with potential suppliers, retailers, consumers anywhere in the world at prices that were unhearable up only 10 years ago. (Hill, 2009)Technological advances in the transportation have also improved rapidly. The commercial jet of today makes a trip from New York to Tokyo in less time then it would have taken someone to get from New York to Philadelphia in the Colonial days.Other advances much(p renominal) as containerization have help to reduce the cost of transportation while increasing efficiency. (Hill, 2009)Some effects of globalization found locally are in almost any store, from food to auto parts and most things in between, many items we use are not make in the United States as a all or in part. With out globalization supply of many of these items would be lower due to an increased cost of production. The city of Jacksonville, Fl also offers appeal to global companies. The location of Jacksonville in relation to an international ship and shipping port, major highways, and easy access to rail terminals makes the city an ideal location for global companies such as Bridgestone. Bridgestone is a global company based in Japan with manufacturing facilities in Central, South, and North America, as well as Japan and Africa. The ability of Bridgestone to acquire supplies for production of a wide range of products from just about the world allows the company to supply a pro duct of the highest qualities while allowing the price to remain competitive.Globalization has belong a reality for almost any company regardless of size.ReferenceHill, Charles W.L. (2009). International Business. University of Phoenix exercise Edition e-Text. New York McGraw-Hill Irwin. Retrieved April 2, 209, from University of Phoenix, Mgt 448.