ASSIGNMENT :-1

QUES NO-11:-FREE TRADE & GLOBALIZATION

·        TO UNDERSTAND THE FREE TRADE GLOBALIZATION IT’S IMPORTANT TO HAVE A LOOK ON THE EXPLANATION OF GLOBALIZATION:-

Globalization refers to the increasing unification of the world's economic order through reduction of such barriers to international trade as tariffs, export fees, and import quotas. The goal is to increase material wealth, goods, and services through an international division of labor by efficiencies catalyzed by international relations, specialization and competition. It describes the process by which regional economies, societies, and cultures have become integrated through communication, transportation, and trade. The term is most closely associated with the term economic globalization: the integration of national economies into the international economy through trade, foreign direct investment, capital flows, migration, the spread of technology, and military presence.^[1] However, globalization is usually recognized as being driven by a combination of economic, technological, sociocultural, political, and biological factors.

                                         AND

According to OXFORD ENGLISH DICTIONARY it was first employed in a publication entitle towards new education in 1930 to denote a holistic view of human experiences in education.

·        Measurement

Economic globalization can be measured in different ways. These center around the four main economic flows that characterize globalization:

·         Goods and services, e.g., exports plus imports as a proportion of national income or per capita of population

·         Labor/people, e.g., net migration rates; inward or outward migration flows, weighted by population

·         Capital, e.g., inward or outward direct investment as a proportion of national income or per head of population

·         Technology, e.g., international research & development flows; proportion of populations (and rates of change thereof) using particular inventions (especially 'factor-neutral' technological advances such as the telephone, motorcar, broadband)

·        FREE TRADE GLOBALIZATION EFFETS THE FOLLOWING SECTORS IN VARIOUS TERMS:-

1-industrial - Emergence of worldwide production markets and broader access to a range of foreign products for consumers and companies, particularly movement of material and goods between and within national boundaries. International trade in manufactured goods has increased more than 100 times (from $95 billion to $12 trillion) since 1955

2-financial -Emergence of worldwide financial markets and better access to external financing for borrowers. By the early part of the 21st century more than $1.5 trillion in national currencies were traded daily to support the expanded levels of trade and investment

3-economic

4-political

5-information

6-language

7-ecological

8-technical

9-cultural   etc.

·        TRADE LIBERLIZATION:-

The primary concern of the environmental lobbies is that further trade liberalization through the Free Trade Area of the Americas (FTAA) initiative will have adverse consequences on the environment. Their first point is that international trade law under World Trade Organization (WTO) regulations provides an incentive to lower domestic environmental regulations, so that domestic producers will be on a "level playing field" with foreign competitors. The second concern is that the General Agreement on Tariffs and Trade (GATT) policy of "product, not process" prohibits the discrimination of imports based solely on the methods of production, a practice which induces foreign producers to use the cheapest (and environmentally costly) processes, knowing that their products will receive equal treatment as those made with "environmentally-friendly" production techniques.

·        Improving Development Effectiveness through Excellence in Evaluation

IEG is charged with evaluating the activities of IBRD and IDA (the World Bank), the work of IFC in private sector development, and MIGA's  guarantee projects and services. The Director-General of IEG reports directly to the World Bank Group's Board of Directors. The goals of evaluation are to provide an objective assessment of the results of the Bank Group’s work and to identify and disseminate lessons learned from experience.

·        RECENT EVENTS

Overlooked Links in the Results Chain
Countries and agencies increasingly find that evaluation, independent evaluation, can
improve the effectiveness of programs. Many countries, including Mexico, South Africa,
India, Germany, and the United Kingdom have taken or are considering actions to
increase the use of evaluation. This workshop challenged some important assumptions in the development field and pinpoints the areas to watch for in operations or policies that are decisive for
results

·        COCLUSION:-

I think after analyzing all the aspects its clear that free trade & globalization are linked and have many topics to debated………..in favour or in against also.

·        SUBMITTED TO:-

MR. GURDEEPAK SINGH

·        SUBMETTED BY:-

ANU SINGH RANA

MBA 1(A)