Integrated and Interdependent Global Economy Essay

Integrated and Interdependent Global Economy - Essay Example It not only saves time, energy and money, but also induces overall growth to the economy. It is not one country that will be benefitted, but all the countries who are involved in the bilateral trade will be immensely benefitted from the same.   Globalization has made a major impact on the world economies. The shift has been mainly towards a more integrated and interdependent economy. Here the market and the production unit must be merged together to give an integrated effect. Also, the geographical factor has been considered when this interdependency aspect has been implemented. This is a good concept because the economy has been merged to source the local services and products and make it available to the huge global market and also to take advantage of the individual national distinctiveness and the other factors of production like energy, land, capital, and labor.   In this perspective, the matter of outsourcing refers to the concept of sharing of the production and service operations in an overseas country and also it helps in hiring the employees in a different location rather than employing the people in-house. The processes and functions, which   are being outsourced most often, are supply chain by 36%, learning - training by 31%, information technology by 43%, finance and accounting by 21%, human resources by 25% and customer relationship management by 13%.   The free trade generates gains for all the countries which take part in the system of free trade, but as the factor of globalization moves throughout the U.S. financial system, many people dispute the effect of outsourcing on the jobs they hold.

Defenations and examples Assignment Example | Topics and Well Written Essays - 750 words

Defenations and examples - Assignment Example They are sources of energy mainly derived from living components from a previous geological field .Fossil fuels include: petroleum, natural gas and coal (Curley, 2012). Overtime petroleum reserves have been over utilized. Consequently, there is an inevitable decline in oil reserves,which could result in serious economic problems. For example The united states of America faces a huge decline in the energy supplies in the next twenty years which will threaten the economic stability of the country. The energy sector is critical in all countries since it affects other sectors such as the agriculture and transport sector. In developing countries such as Nigeria and southern Sudan there has been constant conflicts in human rights violation due to the presence of oil reserves. Domestic Technology ensures that the human population live comfortably.It takes the form of home appliances which include computers, cars washing machines,power generators,and telephones.Consequently, people refer to technology as a tool that empowers people.For instance cars can be used to travel from one place to another. Telephones on the other hand can be used to facilitate communication, making the world a global village. However, it is important to note that some of these components can be used to commit crimes and facilitate unethical behaviors in the society. Distributive justice focuses on the fair allocation of services among the society members. Moreover, it advocates for the equal distribution of available resources to all people (Armstrong, 2012) . In developing countries, many people survive on less than a dollar a day. This clearly indicates the inequalities affecting many people around the world. Therefore, it is the mandate of the government to invest in infrastructural projects to ensure that the living standards of the people improve significantly. Lastly, there is a need for increased trading and a free