Globalization Essay Example | Topics and Well Written Essays - 500 words - 19

globalization - Essay ExampleThis has an disturb on the capitalist social and economic relations through microeconomic and multilateralism phenomena like competitiveness of businesses globally. The important change of production systems has an impact on the labor process, class structure, technological application, and capital organization and structure. Globalization marginalizes workers that are less educated and less skilled. As a impart of globalization, expansion of business does not automatically result in increased employment. The higher mobility in comparison to labor can engender high capital remuneration. Power in the global economy is a companys tycoon to command the tangible as well as intangible assets that result in increased fealty of the customers irrespective of spot. A company can tap into global networks no matter what is its geographic location or size. Globalization has had mixed effects on world economy with the increase in passel and foreign direct inve stment on one hand, and increased labor and production costs and income distinction on the other hand.Globalization has mixed effects on currency as a result of which, certain countries become stronger economically while other countries loose economic strength. Acceleration of globalization has caused marketplace conditions to change. This has affected the volatility and value of national currencies all over the world. For example, the euro EUR in the European Union has replaced a number of local currencies. The Renminbi RMB has challenged the power of the US dollar. Many other currencies are linked with euro and dollar to monish harmful volatilities and fluctuations. Countries like Germany and China hand over taken advantage of the power of global currencies unification to pay back their growth. On the other hand, countries like Spain and Greece have gathered huge national debt while other countries have become poorer. A range of factors