Impact of Globalisation on UK Essay Example | Topics and Well Written Essays - 2000 words

Impact of Globalisation on UK - Essay voiceThe ups and down in equity markets is non a new phenomenon, but the UK equity markets have not recovered from the shake ups. This is a direct consequence of the networking of economies and globalization.Globalisation has made its mark in near all parts of the world over the last two decades in particular. Globalisation as such, has been in existence for quite a while. In the early ages it was essentially limited to business and trade. But with the kickoff of the new form of market driven governments, globalisation has filtered down to almost all walks of life like, media, culture, and of transmission line the trade and business practices remain the key segments impacted by the phenomenon. During the early ages, trading companies, particularly from UK and europium would arrive in a foreign land, make strategic arrangements with the respective governments and influence the ruling furcate in order to strengthen their business goals. In a number of cases, gradually these companies also succeeded in capturing power in those countries, thus giving rise to the practice of imperialism. Well, the modern avatar of globalisation appears further more sophisticated and customer oriented, as it gives rise to intense competition in the market. While on the one hand globalisation is transforming the face of scotch policies, on the other apprehensions argon also being expressed about the ill effects. International Monetary Fund (IMF) described globalisation as The make through which an increasingly free flow of ideas, people, goods, services and capital leads to the integration of economies and societies (IMF, 2002). UK has been at the forefront of implementing developmental change and played a key role in shaping the world opinion on the issue. Globalisation More than Transnational CooperationTrans-nationalism essentially meant a focus on broader areas of cooperation in cultural exchanges, economic exchanges connecting peop le, governments, organizations or institutions across the borders of nation-states thus facilitating the flow of people, ideas and goods between different countries and regions. On the other hand globalisation, though implies similar connotations, has become more associated with economic activities and a market oriented attitude of big unified houses. While trans-nationalization worked with exchanges across boundaries connecting the countries and regions, globalization seems to know no boundaries. Moreover with the advancement of communication technologies spread of globalisation has become more prominent and now it has replaced the word trans-nationalisation. Networking o economies and real time online businesses are ripe some examples of the borderless regime. While trans-nationalisation effectively meant cooperation and coordination between two or more countries, globalisation works with elaborateness of many countries in similar practices or trade. Formation of regional coope ration councils like G-8, G-20, EU, Gulf Cooperation Council etc. are an indication towards having similar policies on a range of issues, which in turn results in mutual unspoiled proposition for the member countries. The networking essentially meant that the economic factors forget experience similar triggers arising out of common policies will be shared proportionately by the members. Under the globalisation regime, economic activities have dominated as the major players in deciding the policies. It is only because of such networking that