Globalisation is a full term that has become popular in todays society. It heap be described as a set of processes that corroborate cosmeawide relations whilst reducing distances amongst the world as a whole, and potentiometer be viewed upon from a variety of dimensions much(prenominal) as economical, political, ideological and cultural. These dimensions facilitate the processes of globalisation as a whole and it would be difficult to discuss the term without considering completely of these factors. However, this essay will concentrate on the economic dimension of globalisation, present its main features, whilst showing how these features interconnect and influence the world economy today. This will be achieved by focussing on the Bretton Woods agreement, the issuing of neoliberalism, trans subject area corporations, as well as major international economic institutions.
According to Steger (2009), economic globalisation refers to the expansion of economies around the world that have reached beyond national bsocietys, incorporating trade, finance, and communion.
Traditionalists argue that there is nothing new about economic globalisation, asserting that these processes have been continuing and extending since the emergence of trading between Europe, Africa and the Americas in the 1500s, resulting in the beginnings of the capitalist world system ( Held, 2000; Steger, 2009).
On the other hand however, globalists believe economic globalisation can only be understood in a modern sense from the 1970s onwards, as the expansion and acceleration of communication and trade around the globe from that period has ignited globalisation as we know it today (Held, 2000; Steger, 2009). Steger (2009) asserts this contemporary globalisation has seen the emergence of three trends; economies have become global, transnational Corporations are producing programmes base on the...If you want to get a full essay, order it on our website: Orderessay
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