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Essay / Research Paper Abstract
This 4 page paper looks at the main drivers of globalization; economic drivers, communication and transportation, examining the ways in which they drive forward globalization individually and interdependently. The bibliography cites 3 sources.
Page Count:
4 pages (~225 words per page)
File: TS65_TEgldrive.doc
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Unformatted sample text from the term paper:
a single goods may be made up of components or undergo processes in different countries. These are external signs of globalization, which have been encouraged and facilitated by drivers. It
may be argued that the three main drivers of globalization are trade, transportation and communication. The reasons behind globalization may be seen as staring with the trade concept, with
countries choosing to trade for other goods that they could not make or obtain, or those that where produced at a lower cost. This led to the theory of comparative
advantage that helps to explain international trade which drives globalization. The theory started with the work of Adam Smith, who hypothesized that to maximize productivity each nation should focus on
the goods they can produce most efficiently, where they have the absolute advantage. However, this theory did not explain how and why international trade was taking place. David Ricardo developed
an alternative idea and although sounding similar it is a significantly different approach. Ricardo take Smiths ideas a little further; Ricardo (1821) states that countries and companies within the countries
should make their decision of what commodities to produce and export by reference to that which has the smallest absolute disadvantage. They should also import commodities where the absolute disadvantage
is the greatest. This is also known as the theory of comparative advantage. This desire for international trade and to gain goods in this manner does explain a high
level of international trade, the labor intensive goods produced in the third world benefit from lower costs due to lower wages and lower overheads, the services of call centers in
India have similar advantages, whereas the technical expertise found in nations such as Japan have similar advantages. Trade has been supported with a number of political measures, with bilateral
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