La Tresorerie

I-Introduction

Globalization is the gradual integration of economies and societies around the world. In recent decades, global integration has increased dramatically and very quickly because of technological innovations, development of communications, science, and means of transport and so on. Even if globalization often refers to the "global economy", it also exists in cultural, political, sociological and ecological spheres.

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II-1-Definitions

Globalization is a term that has become very popular and used in many different contexts in the literature

The definition of globalization should also be distinguished from terms like internationalization, regionalization and liberalization.

In most of the definition of globalisation that is found in the literature the process of globalisation is seen as the breakdown of borders between countries, governments, the economy and communities. In the financial markets it is also the blurring of borders between different markets.

3-Advantages and Disadvantages of Globalization

•Globalization, which is developing greatly, raises many questions and controversies. In fact, people are wondering in what ways it is advantageous and what are its mains drawbacks. About this subject, Alan Greenspan, an American economist and former chairman of the Board of Governors of the Federal Reserve of the United States said: “The basic problem that we confront is given that the advantages [of globalization] are so much greater than the deficits, how do we take care of those who are on the wrong side of this process?”.

To tackle the issue of globalization, I will start by looking at what its main advantages are. In a second part, we will look at its drawback

Some Advantages Some Disadvantages

• Increased free trade between nations

• Increased liquidity of capital allowing investors in developed nations to invest in developing nations

• Corporations have greater flexibility to operate across borders

• Global mass media ties the world together

• Increased flow of communications allows vital information to be shared between individuals and corporations around the world

• Greater ease and speed of transportation for goods and people

• Reduction of cultural barriers increases the global village effect

• Spread of democratic ideals to developed nations

• Greater interdependence of nation-states

• Reduction of likelihood of war between developed nations

• Increases in environmental protection in developed nations • Increased flow of skilled and non-skilled jobs from developed to developing nations as corporations seek out the cheapest labor

• Increased likelihood of economic

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