The Role of Globalisation in Economic Growth

The role of globalization in economic growth Executive summary of directory page .................................... ... ... ... ............................ .... 3 Globalization .......................................... ... ... ........................................ .... 4 World Trade Organization ................................. ... ... ... ................................. 4 a) WTO activities .......... ................................. ................... 5 5) Advantages of WTO ........................... ...................

In the first half of this paper, I will explain the relationship between economic globalization and the contribution of economic globalization to accelerate economic growth and poverty reduction. Second, we will examine some of the criticisms and challenges related to economic globalization. Finally, this white paper will draw conclusions based on the results of the review. Recognition of globalization of the economy means "the relationship between the world economy in the market created through the market, finance, goods and services, and transactions" (Chase, 1999). According to Nicholas (2009), "Globalization of the economy is an increase in flow across goods and services across the border." He emphasized that "it helps to increase the cross-border flow of monetary capital", thereby increasing private economic activity from foreign countries. Furthermore, the flow of production activity is then expanded or transferred to other countries in whole or in part.

Globalization is an economic, political and cultural phenomenon, including the development of interactions through the flow of international trade, investment, capital and the integration of domestic economic systems. This is social, cultural and technical transcending across national borders. Under capitalistic circumstances, the geographical distance is the process of establishing and maintaining the importance of cross-border economic, political, technical and socio-cultural relations. Alexander Downer said once, "You are global or global." This is the reality that we will adopt globalization to keep up with the flow of millions of capital or will be left behind poor Asia. White garbage "This is a general slogan of the 1980s, but economic, cultural and political phenomena never affect the country.

Therefore, globalization is not a "pure economic phenomenon". Many of the various aspects of globalization overlapped, and it turned out that what is called globalization was formed. The economic aspect of globalization is influenced by the political aspect of globalization and not only manages international money markets through global institutions like the World Bank but also to global consumer demand generated by the globalization culture It is influenced. Globalization is most commonly seen as a spherical three-dimensional fluid concept, including cultural, political and economic aspects that are interdependent rather than independent. Without the same influence of the cultural and political ties the individual is experiencing today, the globalized world will not explain the union of only the world market.