summary and reaction--Ian

summary

The developments of transport and communication have made the world more interdependent than ever. Advances in communication and transportation technology, combined with free-market ideology, have given goods, services, and capital unprecedented mobility. With international trade, financial transfers, and foreign direct investment, the economy is increasingly internationally interconnected. This page analyzes economic globalization, and examines how it might be resisted or regulated in order to promote sustainable development. The impact of globalization has been fair enough on the developing economies to a certain extent. It brought along with it varied opportunities for the developing countries. It gave a fillip for better access to the developed markets. The technology transfer promised better productivity and thus improved standard of living. Globalization has thrown open varied challenges such as inequality across and within different nations, volatility in financial market spurt open and there were worsening in the environmental situation.

Reference：http://www.globalpolicy.org/globalization.html
http://www.globalpolicy.org/globalization/defining-globalization.html
http://www.globalpolicy.org/globalization/globalization-of-the-economy-2-1/general-analysis-on-globalization-of-the-economy.html
http://business.mapsofindia.com/globalization/benefits.html

reaction

Globalization is a powerful real aspect of the new world system, and it represents one of the most influential forces in determining the future course of the planet. Foreign investment has both positive and negative effects. Secondly foreign investment has led to growing competition on a global basis. Finally, there is no doubt that in the process of economic globalization, the developing countries have contacted the world's advanced technologies and management methods, but this is obtained at the high price of their cheap labor and natural resources.