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Essay / Research Paper Abstract
This 6 page paper is written in two parts. The first part considers the way that the global economy is changing, the patterns seen and how this is impacting on the poor and middle income countries. The second part of the paper looks at the impact that globalization is having on organizations, their operation and their culture. The bibliography cites 7 sources.
Page Count:
6 pages (~225 words per page)
File: TS14_TEglobecon.rtf
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Unformatted sample text from the term paper:
has been the case, but the attention has changed and the increase in economic growth is due to just production, but due to an increased level of trading. Between 1950
and 1994 the output increased by more than five times, however the level of trading increased disproportionately with 14 the amount of trade taking place in 1994 than in 1950
(Trade point, 2003). By 2002, that despite the global slow downs that were taking place, trade increased twenty-three fold and output by seven times compared to the 1950 level (IMF,
2002). This gives us a clear message that the output may be increasingly but trade is increasing disproportionately. Invariably it is the production of primary goods is focused in
the less developed countries as when looking at the costs of global growth it become apparent that the wealth this creates is not equally spread. Indeed, the wealth that
is creates helps to differentiate the rich and the poor, increasing the gap between the two and creating a strong asymmetry of power. The value that increases economic growth
is often cited as being in the transformation process, where raw goods are processed into finished goods, this adds value. Many of the poorer countries are only able to produce
the raw goods. These are then exported. Often from countries that need the goods for themselves. For example, in 1994 there was a growth in the output of agricultural products
by 2%, but trade increased by 8% (Trade Point, 2003). A different pattern was seen in manufacturing. Here it tends to be the poorer countries that undertake the labour intensive
work due to a comparative advantage in wages and then export to the richer countries, this was an increase of 3.5% in output but an increase in exports of only
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