Essay Caribbean Challenges

This widely accepted definition shows the way in which globalization today connects the cultures and communities in one corner of the world to development occurring in another country.Globalization is truly a complex phenomenon ‘which encompasses a great variety of tendencies and trends in the economic, social and cultural spheres’ (Bertucci & Alberti 2001).Another positive impact of globalization on developing countries is an increase in standard of living.

This widely accepted definition shows the way in which globalization today connects the cultures and communities in one corner of the world to development occurring in another country.Globalization is truly a complex phenomenon ‘which encompasses a great variety of tendencies and trends in the economic, social and cultural spheres’ (Bertucci & Alberti 2001).Another positive impact of globalization on developing countries is an increase in standard of living.

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There is now an increase in the inflow of foreign direct investment to developing countries as more than a quarter of world foreign direct investment inflows were received between 19 and this has increased yearly (World development indicators in Bertucci & Alberti 2001).

From US $12 billion in 1980, private capital flows to developing countries increased to US $140 billion by 1997 (Bertucci & Alberti 2001).

James Rosenau, a foremost political scientist, defined globalization as ‘a label that is presently in vogue to account for peoples, activities, norms, ideas, goods, services, and currencies that are decreasingly confined to a geographic space and its local and established practices’ (Stallings 2000).

For those looking at it from the economic angle, it refers to the increasingly internationalized character of the emerging global economy.

This then means that globalization does not hold the same benefits for all members of the global community.

It holds more benefit for members of developed nations while developing nations can be said to be in a rather deprived position.

It means different things to different people, but in most cases remain a loose and ill-defined concept.

Globalization has several definitions, but an undisputable fact which everyone agrees to is the fact that it is a complex process that has wide and varying impacts on economies, both developed and developing.

Free 3000 words Globalisation Essay: The concept of globalization is currently a popular but very controversial issue, and has been one of the most widely debated issues since communism collapsed.

‘Debates currently raging about globalization include whether it even exists, whether it is more important now than at some earlier date, whether it is displacing the nation state, and whether it is more important than regionalism or localism’ (Stallings 2000).