Globalization refers to the process of world wide sparing integration or, to be more precise, to the sudden acceleration, broadening and deepen of this age old process of interweaving of economic (f)actors, in the peak after the Second military man War. In this process, technological creation plays an important role, in particular and most spectacularly in two areas: information / communication and transport. The transport revolution, fuelled by brazen oil, made possible the relocation of productive capacity to woeful wage countries as integrated part of world-wide measure chains; distance no longer matters. The ICT revolution come along flattened the world by providing companies and entrepreneurs from all over the world with the opportunity and the tools to connect to and compete on a levelling global playing field.
At the same time, this acceleration is the outcome of a process of consultation, planning and decision-making, which started with the Bretton Woods Conference of July 1944. Among other things, the World Bank, IMF and the Uruguay Round WTO constitute the institutional fallout of this conference. Bretton Woods was most economic recovery after World War II, and to the highest degree the way towards global growth and prosperity.
To that end, barriers had to be removed, such as restrictions on free trade, and new arrangements and institutions had to be established to attend recovery and to facilitate growth. The type of policy that was developed here, and that was later on identified by concepts such as neoliberalism and the Washington Consensus, revolves more often than not around reducing the role of government in economic life and enhancing the role of the market.
This market is increasingly a global market, and economic interweaving largely blurs national borders. Globalization is thus associated with a (relative) de-nationalization of the economy. The space for a national government to steer the economic process is...If you want to get a full essay, order it on our website: Ordercustompaper.com
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