Reading4 : Economic Globalization / JIN MINGJUN

 

What is the relation between economy and globalization?

 - CorporationsPeter Dicken

1) Summary

With the further development of economic globalization, its impact on the economies of various countries is increasing, and people's understanding of it is also deepening. Through economic events such as the Asian financial crisis, people see the complexity of economic globalization and how to deal with it The possible destructiveness of inappropriateness. Although people have debates about economic globalization in one way or another, it has been recognized that economic globalization is a "double-edged sword". In the face of economic globalization, we must To grasp the opportunities brought by it well, but also to seek advantages and avoid disadvantages, and avoid the risks it brings.
In a sense, economic globalization is actually the globalization of the market economy, and its development is subject to market forces and the laws of the market economy, so it inevitably has two sides. The market mechanism has always had two sides, namely: interests Opportunities and challenges coexist with risks. Economic globalization amplifies these two functions of the market mechanism, causing it to produce a multiplier effect: on the one hand, the free flow and allocation of various economic resources across national borders and on a global scale Economic globalization, as the main feature, doubles the benefits and opportunities generated by the market mechanism. If done well, economic development may take off rapidly; on the other hand, economic globalization also doubles the risks and challenges generated by the market mechanism. The competition for resources and markets is more intense. If it is not done well, economic development may suddenly decline. From this perspective, economic globalization has both advantages and disadvantages for all countries. However, these advantages and disadvantages are different for each country. Symmetrical and unequal. Because the market systems and operating mechanisms of countries in the world are different, and their market competitiveness and market risk resistance capabilities are different, even if the rules of competition are equal, the advantages and disadvantages of participating in economic globalization cannot be the same. symmetrical and equal.
Since economic globalization developed without fundamental changes in the old unjust and unreasonable international economic order, economic globalization is a "double-edged sword" for developing countries. In today's world, Western developed countries are in the main and dominant position in the international division of labor system. They have obvious economic and technological advantages and occupy a favorable position in international competition. Western developed countries are the "rules of the game" in international finance and trade. In fact, major international economic organizations are also controlled by Western developed countries, all of which make it easier for the West to impose its will on developing countries. Faced with increasing pressure from the West, the majority of developing countries ensure that their countries The task of economic security will be more severe. Economic globalization has further exacerbated the polarization between the rich and the poor.

2) Interesting Point

How to internationalize the company mentioned in this article is worth reading for many small and medium-sized enterprises, it is very helpful


3)Discussion

This article mentioned that European and American countries and regions are still the overlords promoting economic globalization. Will there be any difference in the future?
















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