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Essay / Research Paper Abstract
This 8 page paper presents information on a variety of subjects in Q&A format. Concepts are defined and explored. Some concepts discussed include competition, national sovereignty, globalization, economic clusters, free trade, the law of diminishing returns and more. Bibliography lists 1 source.
Page Count:
8 pages (~225 words per page)
File: RT13_SA332eco.rtf
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Unformatted sample text from the term paper:
word "globalization" had only been used towards the tail end of the eighties. Authors express also that the term was used in conjunction with other speech related to multinationals and
FDIs (2001). In fact, globalization has come to be defined closely related to international business and many think of it as a phenomenon that has exploited opportunities for people around
the world to work. While some theorists and critics contend that globalization has had a negative effect, particularly in the third world, others claim that nothing could be further from
the truth. Indeed, globalization is quite controversial subject and to some extent, makes the term difficult to define. That said, globalization is, at least according to Gilpin & Gilpin (2001)
inextricable with the rise of the multinational corporation. It is also closely related to competition, which may be expressed as a healthy rivalry between businesses. In respect to the
definition of national sovereignty and how it relates to the international economy, it should first be noted that authors claim that "a profound shift is taking place from a state-dominated
to a market dominated international economy" (Gilpin & Gilpin, 2001, p.8). National sovereignty of course suggests that independent states have the right to do as they like. Clearly, with the
new international economy driven by globalization, an individual nations rights and abilities to maintain independence is thwarted. This is because due to the trading relationship, not only are independent
states now more entrenched in international trading law and treaties, but also because multinationals dictate the economy and this has had an indirect effect on the governments ability to lead.
Authors point to the economist by the name of Ralph Hawtrey, who suggested that there is a "reciprocal" relationship between national security and
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