Economic History: Globilization

6125Question 3: Globalisation has been driven by rich countries and accordingly has been a negative force in the development of poorer countries. Discuss. globalisation refers to a situation in which national economies amalgamate into an autonomous global economic system. This in theory should be a good thing for countries across the world, and it is for the nations that are reaping the rewards of a naked as a jaybird global economy and free trade. However this is not reliable for the countries that have been marginalized by globalization, namely the bottom billion. These countries have been digest by practices such as Economies of agglomeration which have marginalized their manufacturing industries by gang the manufacturing of goods in safer developing countries such as China, Japan and India. The benefits of globalization are reaped mainly by developed nations rather than their emergent counterparts. The theory of Economies of agglomeration provides us with a good explanation of wherefore we find that the manufacturing of goods clustered pie-eyed together in sure parts of the globe instead of being spread every bit across developing nations as one may expect.

The theory of Economies of agglomeration which states that manufacturers and companies producing similar goods want to be located in close proximity to each other in order to come down costs. This explains why countries in the bottom billion with potential in terms of the manufacturing of goods dont, for the most part, stand a endangerment against established powers such as Asia. The clustering of the manufacturing of goods in authorized countries across the globe works to improve and modernize the bag of these countries to the extent that it doesnt make sense to move the manufacturing of goods to whatever other nations. This is where the major problem creeps in because without a major rise in the cost of labour in these countries or political unrest, other developing nations such as the countries that make up the... If you want to get a wide-eyed essay, order it on our website: Orderessay

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