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Globalization: The Good, the Bad, and the Uncontrollable
Globalization: The Good, the Bad, and the UncontrollableGlobalization: The Good, the Bad, and the Uncontrollable

When the national economy continues to grow and begin to intertwine, they create a global system of international economics known as globalization. Because of its modern and complex nature, this term is better described than defined, but for the sake of argument, the United Nations Development Program defines it as: “The growth of human interdependence in the world. This is a process that integrates not only the economy but culture, technology, and governance. People everywhere are connected by the influence of events in the corners of the world. ” Financial institutions continue to gain influence from multi-national assets which causes strong opposition in fear of global monopoly, while the leading countries involved slowly begin to develop generally accepted codes of conduct and reporting standards to mediate these growing concerns.

The idea of ​​international trade is not a new topic;

Even back hundreds of years to the East India Trading Company which links trade between much of Europe and the East Indies. The problems that emerged at that time were very similar to what we are facing today, where two rival companies joined the esteemed East India Company (HEIC) to obtain a monopoly on the trade industry, often using military force and functioning as a government body. After a brief pause in international trade in the early 1900s, due to World War I & II, more advanced countries began to develop at an unimaginable rate to third world countries that lacked the infrastructure, capital, and reporting standards to be able to …

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