Globalization Process, Free International Trade - 1789 Words

1. Introduction Considering as one of prominent aspects of the globalization process, free international trade has over 100 years in the development history (Lawal 2006; Ocampo Martin 2003). At the first stage, free trade was happened within the North and South America countries, then together with the development of the world economy, trade liberalization has expanded to almost areas of the world (Ocampo Martin 2003). The most expansive and extensive period of trade liberalization is from the second half of the twentieth century to present. In this period, trade liberalization, with support from innovations in transportations and information technologies, is characterized by the rapid expansion of trans-boundary free trade and international investment among almost developed and developing (Ocampo Martin 2003). Various arguments and researches demonstrate that globalization, in general, and the trade liberalization in particular, create many opportunities to help nations and the world economy achieving significant results in both social and economic development (Carbaugh 2008), that results in the higher economic growth rate at both developed and developing countries nowadays. However, beside the acknowledgement about positive impacts of free trade on socio-economic growth, the awareness about the decrease in the quality of living environment is also improved respectively. For instance, the concerns about air pollution, global warming, climate changes, loss ofShow MoreRelatedGlobalization: A Free Trade Phenomenon Essay866 Words   |  4 Pages Globalization is â€Å"the integration of states through increasing contact, communication and trade to create a holistic, single global system in which the process of change increasingly binds people together in a common fate† (Carey 2002). Some economists recognize globalization as being in the best interest of all states. While others believe that increasingly liberated trade and global economic interaction is necessary in many ways. While globalization marks a move toward a more open world-tradingRead MoreThe Pros and Cons of Globalization Essay963 Words   |  4 Pages It is debated whether globalization is an advantage or disadvantage to our society. Everyday you hear it on the news, you read it in the newspaper, and you overhear people talking about it and in every single instance the word globalization seems to have a different meaning. Globalization is the process by which a business or company becomes international or starts to operate on an international level such like the rise of the so-called global economy. It can also bring the world closer throughRead MoreGlobalization Advantages and Disadvantages695 Words   |  3 PagesWhat Is Globalization? 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The term is sometimes used to refer specifically to  economic globalization: the integration of nationalRead MoreGlobalization Paper1190 Words   |  5 PagesGlobalization Paper GBM/380 January 10, 2011 Professor Jing Liu Globalization Globalization can be viewed as one of the major influences for the world’s progressions over the past centuries. It is comprehended that globalization has the potential to make countries and societies richer via free trading or little trade barriers providing knowledge and information to people around the world. Others perceive globalization negatively and view it as a major factor to exploit the poor while theRead MoreTheories of Libralism and Realism1055 Words   |  4 PagesLiberal theories of international relations have made a number of contentions on the basis of economic development and its effect on the belligerence between countries. 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