Ashlynn Wright

Globalization Key Term Discussion #1

October 29, 2015

1. Key term and why you are interested in it

I chose the key term Globalization for this discussion. Chapter 1 begins
with the fact that globalization is one of the most important topics in
international business. Countries around the world concern is global trade.
Globalization gives nations the opportunity to create interdependency. It
became very interesting to me how globalization began at the end of the
nineteenth century. Globalization was on a good path until it slowed down in
the beginning of the twentieth century due to the world war and massive
economic issues. Globalization and how it has an impact on international
commerce is an important topic in todays business world.
2. Explanation of the key term
Globalization is the process of interaction and integration among the
people, companies, and governments of different nations and a process
driven by international trade. Our environment, cultures, and economic
development are effected by globalization. It is required that business
people understand the goal for globalization which has an impact on
international marketplace. Globalization opened that doors for the creations
of institutions such as the General Agreement on Tariffs and Trade (GATT)
which is also known today as the World Trade Organization (WTO). Being
that the United States is the largest exporters, globalization amounts to the
selling of America to our nations.
3. Major Article Summary
Adams, F. G. (2008). Globalization: From Heckschler-Ohlin to the New
Economic Geography. World Economics, 9(2), 153-174.

Ashlynn Wright

Globalization Key Term Discussion #1

October 29, 2015

The article I chose to do my summary on was obtained from the world

economic journal. F. Gerald Adams was the Arthur and the article was titled
Globalization from Heckscher-Ohlin to the New Economic Geography. The
world economy has begun to change dramatically due to globalization.
Globalization has been measured in terms of trade and capital. The nations
became more globalized as trade increased throughout the nations. Since
world war II and ongoing into the mid 70s the growth of trade and its
structure has caused globalization to be on a rise. The theory international
trade and globalization really caught my attention.
While reading this article the question that I began to observe was
How does international trade theory consider the globalization process?
People trade because they have a strong belief that they can really benefit
from the exchange. They may need or want the goods and services being
provided. International trade is the concept for the exchanges of resources
from manufactures in different countries such as China, Japan, and Mexico.
For instance the United States purchases oil from the Middle East and coal is
purchased from Australia for the use in China. These countries rely on one
another for good and services that one may need for the advancement of
their economy. Demand has been on a rise for large economies that have
been merging. This means that the demand for market materials has caused
a rising of prices. There is always going to be difference with prices between
locations as some begin to evolve more and as some just begin to fade away.
4. Discussion
a. Globalization is a unit that helps businesses focus on operations
from one country to the next. Most companys involved with international

Ashlynn Wright

Globalization Key Term Discussion #1

October 29, 2015

trade compete with other international countries for goods and services from
different countries. The best way of conducting business between one
another varies on the country. It can be based off what needs and wants the
country has a high demand for at that given time. Globalization is not a new
happening but it has been an aspect of humanity since the earliest times.
Post war occurrence triggered the creations of institutions such as the World
Trade Organization (WTO). The World Trade Organization provides an
agreement for member nations such as China, japan, Germany and the
United States to all unite as one to conduct global business. Globalization
requires that people who conduct business understand the goals of having
an international marketplace. They must be financially prepared and aware
of the monetary impact globalization can cause to occur.
b. Everyone talks about globalization but not everyone has a clear
view of what the meaning really is. There have been debates about whether
globalization is really occurring. Much of the attention of globalization foes
to the expansion of economic exchange. You begin to see more change in
economic interdependencies are political and military in character. What is
new about globalization is that research has been rejoined and conducted on
rather if globalization is understood in a cultural way. Weve known for some
time now that culture is a concept that is very difficult to be understood and
defined. Modern culture can be described as being an obscene culture.
Globalization is the most politically effective terms in any language. Over
the past 50 years nothing has changed to improve the unsettled fact that

Ashlynn Wright

Globalization Key Term Discussion #1

October 29, 2015

there more than 164 different definitions and subjects that include
globalization.

References
Archer, K., Bosman, M. M., Amen, M. M., & Schmidt, E. (2007). Locating
Globalizations and Cultures. Globalizations 4(1) 1-14.
Held, D., McGrew, A., Goldblatt, D., & Perrton, J. (1999). Globalization. Global
Governance, 5(4), 483-496.
Meyer, John W. (2008). Globalization: Theory and Trends, International
Journal of Comparative Sociology 48: 261-273.
Stevenson, N. (1997) Globalization, National Cultures and Cultural
Citizenship. The Sociological Quarterly, 38(1), 41-66.