Scribd Logo
Upload

Welcome to Scribd!

  • 36 views

    CAse Study

    Uploaded by

    Saba Pervez
    The global economy has seen several major changes in recent decades: (1) Newly industrialized countries like China and India have greatly increased their shares of world trade and manufacturing exports; (2) Many advanced economies have experienced deindustrialization and reduced manufacturing output; (3) Former communist countries have opened up and gained trade shares through low production costs. Globalization is transforming the context in which states operate in uncertain ways, driven by policies that have opened economies and reduced trade barriers as well as advances in technology.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    CAse Study

    Uploaded by

    Saba Pervez
    36 views2 pages
    The global economy has seen several major changes in recent decades: (1) Newly industrialized countries like China and India have greatly increased their shares of world trade and manufacturing exports; (2) Many advanced economies have experienced deindustrialization and reduced manufacturing output; (3) Former communist countries have opened up and gained trade shares through low production costs. Globalization is transforming the context in which states operate in uncertain ways, driven by policies that have opened economies and reduced trade barriers as well as advances in technology.

    Original Description:

    c

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The global economy has seen several major changes in recent decades: (1) Newly industrialized countries like China and India have greatly increased their shares of world trade and manufacturing exports; (2) Many advanced economies have experienced deindustrialization and reduced manufacturing output; (3) Former communist countries have opened up and gained trade shares through low production costs. Globalization is transforming the context in which states operate in uncertain ways, driven by policies that have opened economies and reduced trade barriers as well as advances in technology.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    36 views2 pages

    CAse Study

    Uploaded by

    Saba Pervez
    The global economy has seen several major changes in recent decades: (1) Newly industrialized countries like China and India have greatly increased their shares of world trade and manufacturing exports; (2) Many advanced economies have experienced deindustrialization and reduced manufacturing output; (3) Former communist countries have opened up and gained trade shares through low production costs. Globalization is transforming the context in which states operate in uncertain ways, driven by policies that have opened economies and reduced trade barriers as well as advances in technology.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    CHANGES IN GLOBAL ECONOMY:

    The main changes in global economy are;

     Newly industrialized countries like India and China have dramatically increased their share
    of world trade and their share of manufacturing exports. China, in particular, has emerged
    as an economic super-power. China's share of world trade has increased in all areas, and
    not just in clothing and low-tech goods. For example, in 1995, the US had captured nearly
    25% of global trade in hi-tech goods, while China had only 3%. By 2005, the US share had
    fallen to 15%, while China's share had risen to 15%. (Source: European Central Bank -
    ECB, Occasional Paper - China and India's Role in Global Trade and Finance, 2008)

     Like several advanced economies, the UK's trade in manufactured goods has fallen relative
    to its trade in commercial and financial services. Many of these advanced economies have
    experienced deindustrialization, with less national output generated by their manufacturing
    sectors.

     The collapse of communism led to the opening-up of many former-communist countries.


    These countries have increased their share of world trade by taking advantage of their low
    production costs, especially their low wage levels.

     The transformation lists argue that globalization is creating new economic, political and
    social circumstances which, however unevenly, are serving to transform state powers and
    the context in which states operate. They do not predict the outcome - indeed, they believe
    it is uncertain - but argue that politics is no longer, and can no longer simply be, based on
    nation-states.(Ref; Global transformations by David held)

     Current wave of globalization has been driven by policies that have opened economies
    domestically and internationally. In the years since the Second World War, and especially
    during the past two decades, many governments have adopted free-market economic
    systems, vastly increasing their own productive potential and creating myriad new
    opportunities for international trade and investment. Governments also have negotiated
    dramatic reductions in barriers to commerce and have established international agreements
    to promote trade in goods, services, and investment.(Ref; Globalization 101 by state
    university of New York)

     Technology has been the other main principal of globalization. Advances in information
    technology, in particular have dramatically transformed economic life. Information
    technologies have given all kind of individual economic consumers, investors, businesses
    and valuable new tools for identifying and pursuing economic opportunities, including
    faster and more informed economic trends.

    You might also like