Access the impacts of globalisation in our business world

Globalisation leads to increase integration and interdependence amongst countries coming unneurotic in a global economy.

Eroding national boundaries, military man-wide developments, international organisations having and increasing impact on scotch performance.

Trades in G + S US$8.5 trillion to US$16.0 trillion 1990-2002. Averaging 7% growth per year.

Financial flows reaching US$24.5 trillion in 2003. deregulating of financial markets. Increased volatility and speculation.

Investment growth. FDI grew seven fold among 1990-2000. Fell to US$560 billion in 2003 due to economic slowdown. Reflecting interdependence between growing and developed.

TNCs doubled from 37,000 to 60,000. Expansion of other features extending beyond national boundaries.

Advocates - best opportunity for growth, specialisation, allocative efficiency, greater rag to technology, labour and increased living standards.

Critics - Widening gap between rich and poor, distorts distribution of income and wealth, environmental costs, richer nations and NICs are favoured, while developing and transition economies are neglected.

Trade

Increased distribute flows with growth in transaction blocs and agreements. Increased specialisation and efficiency. Increase growth and GWP. Growth in global trade expected to remain over 7%.

FTA with China in July 2005 TFC industry. Lift tariffs, may cause morphologic unemployment, benefit specialist/brand name textile market

If trade growth in Africa, Asia and Latin America is lifted by 1%, it will lift 128 million out of poverty.

WTO ceiling of Qatar November 2001 - cut protection US$700 billion, raise GWP by US$2.8 trillion by 2015 - failed to meet January 1 2005 deadline.



WTO Hong Kong November 2005.

Poorer nations share of world trade has declined.

Financial and investment flows

Deregulation, improve access to overseas pay to fund domestic investment, negative effect on CAD, increased volatility and speculation

Increased FDI - six times greater than levels in 1980s, 77% of flows received by developed nations in 2002. Accelerates growth and innovation.

Growth of capital flows, increased...

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