An economy is the activities related to the production of goods and services within a specified geographic region. This can be on a national scale with the trade and services remaining within a country, but equally, if countries trade goods and services with each other, their economies interact on a global scale, fundamentally known as globalisation. This worldwide interaction of economies is else known as the global economy, with NICs and TNCs play a primary role in changing how it operates. An ‘NIC’ (newly industrialising country) are countries whose economies have not yet reached Developed Country status but have outpaced their developing counterparts in economic terms. The reason for the economic growth in NIC’s is mainly due to the undergoing of export-oriented trade or ongoing industrialization, seen in countries such as China, India, Mexico and Brazil with the experiencing of rapid industrialisation due to the export of goods.
Technological innovation is one example of globalisation, and is also pointed out in Item A, and involves the introduction of new technologies, such as mobile phones which have now become so advanced that they have been compared to actual people. With this rise in technology there are negative impacts on the rate of crime, in that it has risen dramatically. This is due to the new levels of crime that can be produced with technology, and an example of this is fraud. However, as Tombs and Whyte (2003) state, corporate crimes are rarely considered newsworthy and therefore are not reported, showing that corporate crime is a lot more widespread than people actually see it to be, and supports the view that because of globalisation, newer types of crimes are being committed. Another example of this could be fiddling expenses.
Information Technology: Information is the lifeblood of every nation’s capital market because investors need information about investment opportunities and their corresponding risk levels. Deregulation: Deregulation of national capital markets has been instrumental in the expansion of the international capital market. The need for deregulation became apparent in the early 1970s, when heavily regulated markets in the largest countries were facing fierce competition from less regulated markets in smaller nations. Financial Instruments: Greater competition in the financial industry is creating the need to develop innovative financial instruments. One result of the need for new types of financial instruments is securitization.
Imperialism began in the late nineteenth and early twentieth century’s affecting many countries, for example, China, India, Africa, and South America were all affected by imperialism. Although the New Imperialism resulted from industrialized nations seeking control of foreign territories, the conditions that motivated and fueled the great expansion for industrialized nations were mostly based on economic motives. As Europe gained significant power strongly centered nation states emerged. Several factors contributed to the Europeans conquest of Africa. One staggering advantage was Europeans technological superiority.
The American Century built a completely new era of economic order. Globalization and Americanization soon became accentuated in the world’s economy with similarities between American consumers and other nation’s consumers. Americanization is put in terms with Globalization through the adaption of capitalism and mass consumerism globally. The majority of Western Europe and Japan were allured to America’s consumerist economy. These dramatic changes and the globalization of American corporations signaled the “Americanization” of the world.
Since the 1950’s this has changed as London began to boom once more, as in did in the 19th century (Roberts 1994). There is a need to determine what factors define a global city, in order to discuss whether London is a global city. The urban world is dominated by a small number of centres that are the command and control points for global capitalism, the world’s dominant economic system. Such centres are not distinguished by their size or status or as capital cities of large countries, but by their extent and
Introduction Hong Kong and Shanghai have undergone rapid economic development under British influence since 1842. They share a geographical advantage as a core city in the Pearl River Delta (“PRD”) region and Yangtze River Delta (“YRD”) region respectively. Despite these similarities, the cities experienced different levels of economic development due to their changing locations in the regional, national and global economy. This essay seeks to compare the location and economic development of both cities in three historical periods: 1.1840-1949, 2.1949-1978 and 3.1978-2008. It attempts to examine the relationship between the changing location of the cities and their respective growth and structural change.
Hofstede (1993) believes that the spread of businesses onto the global stage brings the issue of national and regional differences to the fore. "There is something in all countries called 'management', but its meaning differs to a larger or smaller extent from one country to another" (Hofstede, 1993). It can also be observed that most of the failures faced by cross-national companies are caused by neglect of cultural differences. The globalization of the world economy, on one hand, has created tremendous opportunities for
Therefore, globalisation through the digital age and transnational corporations can have a powerful influence on the reduction of inequalities, but can also cause inequalities to rise. Globalisation and the digital age have a strong relationship, and in some sense, they fuel each other. The digital age has meant the introduction of the internet, many social networking sites and knowledge based search engines such as Facebook, Twitter and Google. They have led to a faster growing rate of globalisation which has now made it easier to transfer knowledge and news around the world in a matter of seconds. This can be seen recently, in the Arab Spring, in which Egypt’s uprising was greatly influenced, caused, and widened by the social networks Facebook and Twitter.
(PESTLE Analysis, 2015) Following this concept, several factors will be discussed which may help SingTel to maintain and achieve its organization values. 2.1 Political The implementation of "the Liberalization and Privatization of Telecommunications in Singapore“, supported by Telecommunication Authority of Singapore (TAS), was introduced when the telecommunications community, inclusive of SingTel, were caught in a situation where technology was rapidly upgrading. Hence, this lead to an increased need for privatization and liberalization of contents in this industry. While creating many business opportunities for SingTel, it also imposed various difficulties