MATER OF CEREMONY ACARA TINJU
![Text Box: NAME : ERI ARIANTORO
NPM : 14.0102.0081](file:///C:\DOCUME~1\user\LOCALS~1\Temp\msohtmlclip1\01\clip_image001.png)
Ladies
and gentlemen, let me stand infront of all the audience to talk about global
economy. It is a widely accepted view that globalization would not only
benefit all countries across the world but would also work towards the
betterment of the economy as a whole. Globalization was not only loosed of
boundaries of each countries but associated with many complex thing in a
country including economic. A global economy is characterized as a world
economy with an unified market for all goods produced across the world. It thus
gives domestic producers an opportunity to expand and raise capacity according
to global demands Likewise, it also provides an opportunity to domestic
consumers to choose from a vast array of imported goods. A global economy aims
to rationalise prices of all products globally.
While
a global economy or globalization has the distinct advantage of raising world
productivity and incomes and bringing about an improvement in the standards of
living for all people at a global level, it has the dangerous side effect of
growth with inequality. This has been evidenced in the less developed economies
of India, China and Brazil where the benefits of globalization have not percolated
to the lowest levels. This has brought about a wide divide between the
have-nots and the have-lots.
A
Global Economy also leads to a shifting of jobs from the developed countries to
the Third World Countries as wage rates are much lower here. This allows
companies of the advanced nation to grow exponentially. For example, we might
find computer chips produced in China be exported to USA for designing which
may be subsequently used in Japanese computers supplied across the world.This
process is called “outsourcing” and leads to exploitation of workers in Third
World economies where income inequalities already exist.
The
last, nonetheless, a global economy may be beneficial for the world at large.
This may result in the economies of the world fighting issues such as global
warming or maybe climate change.
Thank you for your kind attention.
Thank you for your kind attention.
Wassalamu'alaikum wr. wb
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