Question

Hello Friends☺️☺️

Topic--- " Globalization Vs Nationalisation "

Answer in 90-100 words ☺️
Please gyzz help ☺️♥️

Answer 1

-----Hey mate----

GLOBALISATION is integration of international economies through trade, foreign direct investment, capital flows, migration and spread of innovated technology. It is a process by which regional economies,societies and cultures have been integrated through a global network of trade, transportation and communication. It is a combination of economic, technological, sociocultural, political and biological factors. It is a transnational circulation of ideas, languages and even cultures as well as thinking.

Globalisation has various effects in different ways and in different areas i.e. industrial, financial, economic, health policy, political, informational, language, competition, ecological, social, cultural, technical, legal/ethical, religious. It also has a negative effect. Globalisation has created ecological imbalance, environmental degradation, increased inequality, brain drain and drug and illicit trade. There is an drastic effect on culture due to globalization and it is matter of concern. With globalization of economies and trade even cultures are imported and exported. The countries like USA have an influential impact on other smaller countries as the smaller or developing countries have forgotten their values and customs and are following their trend. This may be called as mcdonalization or americanization.

In a summarised way “globalisation is a strategy of liberalization that becomes an economic nightmare for the poor”.

Now,

NATIONALIZATION is the process of taking industry or assets in to the public ownership of a national government or state. Nationalization means assets owned by private but it can also be owned by lower levels of authorities being transferred to public sector. The opposite of nationalization is privatization or de-nationalisation. A renationalization occurs when state-owned assets are privatized and later nationalised again often when a different political power is in power. A renationalisation may also be called as reverse privatization.

The motives of nationalization are political as well as economic. It is a central theme of certain brands of state socialist policy that the state production, distribution and exchange should be owned by state on behalf of the working class to control the economy. Many socialists believe that public ownership enables people to exercise full democratic control whereby they can earn their living and provides effective means of distributing output to benefit the public at large and means for providing public finance. Nationalized industries, charged with operating in the public interest, may be under strong political and social pressures to give much more attention to externalities. They may be obliged to operate some loss making activities where social benefits are clearly greater than social costs – for example, rural postal and transport services. Since the nationalised industries are state owned, the government is responsible for meeting any debts incurred by these industries. The nationalized industries do not normally borrow from the domestic market other than for short-term borrowing. If profitable, the profit is often used as a means to finance other state services such as social programs and government research which can help lower the tax burden.