Impact of capitalist economy international relations in world for ias
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Impacts of global capitalism and internationalisation of economic activity
This essay will examine a range of impacts of global capitalism and the increasing internationalisation of economic activity for labour in a comparative perspective looking atChina and India. Globalisation is a popular term that is so often heard, but what does that actually mean? Globalisation generally refers to the process of unification that has taken place in markets consumer tastes, mobile investment capital, and rapid spread of technology (Brewster, 2015). Scholte (2000) noted that a multitude of partial, divergent, and often contradictory claims surrounds the concept of globalisation (Robinson, 2004). Globalisation process can be uneven and affect countries in different ways that is because countries’ economies have their own distinctive economic systems. Yet, the dominant economic system is capitalism, and due to the globalisation process parts of capitalism like the profitability, the market competition and the securing a political and economically suitable labour supply is quickly becoming central to the global social capitalistic system. Capitalist globalisation creates new forms of transnational class alliances across borders and new forms of class cleavages, both globally and within the national class structures(Robinson, 2014). Global capitalism had a big impact on national economic systems as they become linked through trade and the international activities of firms and governments(Morrison, 2011). Even though globalisation has a big influence on the economic
This essay will examine a range of impacts of global capitalism and the increasing internationalisation of economic activity for labour in a comparative perspective looking atChina and India. Globalisation is a popular term that is so often heard, but what does that actually mean? Globalisation generally refers to the process of unification that has taken place in markets consumer tastes, mobile investment capital, and rapid spread of technology (Brewster, 2015). Scholte (2000) noted that a multitude of partial, divergent, and often contradictory claims surrounds the concept of globalisation (Robinson, 2004). Globalisation process can be uneven and affect countries in different ways that is because countries’ economies have their own distinctive economic systems. Yet, the dominant economic system is capitalism, and due to the globalisation process parts of capitalism like the profitability, the market competition and the securing a political and economically suitable labour supply is quickly becoming central to the global social capitalistic system. Capitalist globalisation creates new forms of transnational class alliances across borders and new forms of class cleavages, both globally and within the national class structures(Robinson, 2014). Global capitalism had a big impact on national economic systems as they become linked through trade and the international activities of firms and governments(Morrison, 2011). Even though globalisation has a big influence on the economic
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