Globalisation and Business Essay Example | Topics and Well Written Essays - 3250 words

Globalisation and Business - Essay Example 2. Debates on Economic Globalisation Before going in-depth of the debatable issues of economic globalisation with respect to reduction of poverty, it is essential to recognise the entities that act as the prime contributors towards economic globalisation. The multinational corporations (MNCs) are perhaps the most significant transporter of economic globalisation. The MNCs operate with the organisation of production process and allocation of resources as per the various standards for maximising profits. The globalisation in financial sector also plays an important role towards influencing economic globalisation all around the world. One of the reasons for the formulation of debate over effectiveness of economic globalisation is the fact that the structures of the various industries undergo radical up-gradation and re-adjustment as a consequence of the economic globalisation (Shangquan, 2000). According to the proponents’ views towards the prospect of economic globalisation in t he sphere of reducing poverty, the relatively poor economies had undergone tremendous changes after the economic globalisation evolved. For example, in India, since the year 1975, the rate of poverty has declined sharply along with the decrement in inequality. In countries like India, the supporters of economic globalisation consider the process as an entirely benevolent one indicating the long desired delivery of the concept of humanity from economic underdevelopment, despair and backwardness. The proponents to the concept of economic globalisation are of the notion that the process would operate for the betterment of the human beings within a country wherever poverty exists. This would be achieved because the allowance to market forces would keep the trading away... The paper tells that the multinational corporations (MNCs) are perhaps the most significant transporter of economic globalisation. The MNCs operate with the organisation of production process and allocation of resources as per the various standards for maximising profits. The globalisation in financial sector also plays an important role towards influencing economic globalisation all around the world. One of the reasons for the formulation of debate over effectiveness of economic globalisation is the fact that the structures of the various industries undergo radical up-gradation and re-adjustment as a consequence of the economic globalisation. According to the proponents’ views towards the prospect of economic globalisation in the sphere of reducing poverty, the relatively poor economies had undergone tremendous changes after the economic globalisation evolved. For example, in India, since the year 1975, the rate of poverty has declined sharply along with the decrement in ineq uality. In countries like India, the supporters of economic globalisation consider the process as an entirely benevolent one indicating the long desired delivery of the concept of humanity from economic underdevelopment, despair and backwardness. The proponents to the concept of economic globalisation are of the notion that the process would operate for the betterment of the human beings within a country wherever poverty exists. This would be achieved because the allowance to market forces would keep the trading away from the political issues of the country and would bring about greater growth of the economy and thus for its native as well.