Global World

globalization: The Concept, Causes, and Consequences by whoremonger Williamson, The founding Bank Keynote plough to to the Congress of the Sri Lankan Association for the advance of Science Colombo, Sri Lanka December 15, 1998 © Peterson Institute for supranational Economics This speech was given bit Mr. Williamson was the Chief Economist for the confede ration Asia Region at the World Bank. Globalization has become a familiar enough word, the correspond valueing of which has been discussed by opposites before me during this conference. go forth me nonetheless outline presently what I understand by the term. I shall then go on to consider what has caused it. The bunch of my paper is devoted to discussing what we know, and what we do not know, about its consequences. I will conclude by considering what policy reactions seem to be called for. The Concept It is the homo economy which we designate of as being globalized. We sozzled that the whole of the institution is to a greater extent and more behaving as though it were a part of a single market, with interdependent production, devour standardised goods, and responding to the same impulses.

Globalization is manifested in the growth of arna transaction as a proportion of output (the ratio of world imports to gross world product, GWP, has grown from close to 7% in 1938 to about 10% in 1970 to over 18% in 1996). It is reflected in the blowup of alien direct coronation (FDI): FDI in developing countries has change magnitude from $2.2 jillion in 1970 to $154 billion in 1997. It has resulted also in national capital markets bonny increasely integrated, to the point where some $1.3 trillion per day crosses the foreign transfer markets of the world, of which less than 2% is directly attributable to exchange transactions. time they cannot be mensurable with the same ease, some other features of globalization are perhaps even more interesting. An increasing administer of consumption consists of goods that are available from the same companies well-nigh anywhere in the world. The...If you pauperization to get a respectable essay, outrank it on our website: Ordercustompaper.com

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