Compare and Contrast the Current Era of Globalization with...

Assignment one Student name: Hyde Zhu Student number: 220089143 Course code: MM202 Assignment question: topic 1 Compare and contrast the current era of globalization with the first age of globalization (1850s-1920s). What are the advantages and disadvantages of globalization in its current context? Word count: 1530 Unit Coordinator: Dr Tony Ramsay I am going to contrast the current era of globalization with the first age of globalization in many different aspects, in the mean time analysis the merits and demerits of globalization in its current context. John and Kenneth (2012, p. 28) find that the concept of globalization means the trend toward greater economic, cultural, political, and technological interdependence. With the†¦show more content†¦According to John and Kenneth (2012, p. 31), political leaders of over 20 nations decided to made the organization named General Agreement on Tariffs and Trade (GATT) to promote free trade by reducing both tariffs and nontariff barriers to international trade. Besides, the World Trade Organization is also aim to deal with the trade issues. The three main goals of the WTO are to help the free flow of trade, help negotiate further opening of markets, and settle trade disputes among its members ( World Trade Organization [WTO], para. 2). Over all, the trade in the first age of g lobalization was much freely than it today. At the same time, the trade today is well organized and reasonable. Technology could change the world. The first industrial revolution led the world to the age of steam. The transportation around the world increased rapidly. During the first age of globalization, steam machines like steamship and trains did promote the process of globalization. By contrast, the current key technology term would be the internet. The net work did enhance the connection of the world, the people from anywhere of the world could communicate through the internet. Due to the new technology, the world trade could be much easier. Moreover, with the development of the high technology the speed of the transportations were increased obviously. Globalization brings vast benefits to the world. It helps backward countriesShow MoreRelatedOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pagesunit. The beginnings and ends of what we choose to call centuries are almost invariably years of little significance. But there is little agreement over when the twentieth century c.e. arrived, and there were several points both before the year 2000 (the collapse of the Soviet Union, the reunification of Germany, the surge of globalization from the mid-1990s) and afterward (9/11, or the global recession of 2008) when one could quite plausibly argue that a new era had begun. A compelling case canRead MoreContemporary Issues in Management Accounting211377 Words   |  846 PagesPress in the UK and in certain other countries Published in the United States by Oxford University Press Inc., New York ß Oxford University Press 2006 The moral rights of the author have been asserted Database right Oxford University Press (maker) First published 2006 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, without the prior permission in writing of Oxford University Press, or as expressly permitted