A Coursework Example | Topics and Well Written Essays - 2250 words

A - Coursework ExampleEconomic globoseization is a broader idea that encompasses fancys such as globalisation of production, market competition, transnational corporations, and industries. The concept of scotch globalisation was suggested along with the policy of trans-national trade and hence it has been occurring for the last 20-30 years. By the end of the 20th century, economic globalisation was greatly promoted and this billet led to the integration of developed economies and developing economies through increased foreign direct investment, elimination of trade barriers, and high immigration flow. Although evidences suggest that economic globalisation has a range of positive financial effects, it is also argued that such effects benefit only developed countries and cause power imbalance in the global economy. This paper will analyse in what ways economic globalisation has affected the state?International capital markets, labour markets, and commodity markets constitute the co ncept of economic globalisation. While analysing the history of economies, it seems that majority of the economies was influenced by foreign markets by the early 1900s in terms of either money and labour or lineage policies. Advancement of ship building technology and railroad inventions greatly contributed to the economic interdependence of global economies. Although World War I & II noticeably cut off these advancements in economic globalisation, this concept again achieved widespread attention in 1970s and since then it has been gradually developing. Nowadays, dramatic advancements in information technology go over the effective flow of information. Subsequently, economies tend to constitute a single global market so as to take advantages of integrated trade and other economic operations.While analysing the UK economy in the context of economic globalisation, it is obvious that this process has significantly