Only The Three Body Paragraphs Were Required The Introductio

Only The Three Body Paragraphs Were Required The Introduction And Th

Only the three body paragraphs were required. The introduction and the conclusion were not to be included in the Unit 6 paper. They should be saved for the Unit 8 paper when the thesis will be moved to the end of the introduction. Your paper is already over the length limit, so nothing else can be added. Some parts could be deleted, for example: "Samimi and Jenatabadi (2014), point out that" and "In another article, Sandbrook and Gà¼ven (2014) asserted that." Those phrases add nothing to the paper and are distracting. You would have to explain who they are, so eliminate that phrase and others like it. Keep in mind that your paper is not a literature review. It is an essay in which you are to explain your topic clearly and concisely. Also, keep in mind that your topic is one that is difficult to understand and you are not writing for economists or those with Ph.D.'s. Write in a manner that your average reader can comprehend. Explain concepts clearly in non-jargon type language. Clarity is your goal. The Federal Reserve Bank information at the end of the introduction is not cited. Bullet points should not be used in this paper. Everything should be integrated into the paragraphs using transitions. Subtitles should not be used. This is a short paper, 1/2 pages double spaced, and they are not needed. Clarify what "Globalization makes it possible for huge organizations to comprehend economies of scale" means. Do not use the word "we." Since the topic is globalization, specify the country being discussed when mentioning "federal policy," for example, the United States.

Paper For Above instruction

Globalization is a complex and multifaceted process that has significantly transformed societies worldwide, impacting economic, cultural, political, and technological domains. This essay focuses on the influence of globalization on economic growth, with an emphasis on how it facilitates the expansion of international trade, technological innovation, and economies of scale. These three aspects are crucial in understanding the broad effects globalization exerts on countries' development trajectories.

Firstly, globalization accelerates economic growth through the facilitation of international trade. By reducing trade barriers and encouraging policies that open markets, countries can participate more actively in the global economy. For instance, many nations have entered free trade agreements that allow for the exchange of goods and services across borders more freely. This increased openness expands consumer markets, promotes specialization, and fosters competition among domestic and foreign firms. As a result, countries experience higher gross domestic product (GDP) growth rates and improved living standards. For example, China’s integration into the global trading system has been a significant factor in its rapid economic development over the past few decades. This process demonstrates how openness to trade, driven by globalization, creates opportunities for economic expansion that individual countries might not achieve alone.

Secondly, technological innovation is both a driver and a product of globalization. Advances in information and communication technology (ICT) have drastically reduced the costs of transferring information and coordinating economic activities across borders. This technological leap has empowered businesses and individuals to participate in the global marketplace more effectively. E-commerce platforms, such as Amazon and Alibaba, exemplify how technology enables companies to reach customers worldwide with minimal physical presence. Additionally, innovations in logistics and transportation have further supported the globalization of production and distribution. For instance, the widespread use of container shipping has lowered transportation costs, facilitating international supply chains. Countries that actively embrace technological innovation can thus leverage globalization to enhance productivity and economic growth.

Thirdly, economies of scale are made possible through globalization, allowing large corporations to produce at a lower unit cost by expanding their output. This concept refers to the cost advantages that companies gain as they increase production levels. Multinational corporations, such as Coca-Cola and Nike, utilize economies of scale by mass-producing goods and distributing them globally. This not only reduces costs but also allows firms to offer competitive prices to consumers worldwide. The ability to achieve economies of scale is significantly enhanced by globalization because it provides access to diverse markets and larger customer bases. Consequently, these companies can invest more in research and development, leading to further innovation and increased productivity. While economies of scale can benefit large firms, they can also pose challenges for smaller domestic businesses that struggle to compete with the lower prices offered by international giants.

References

• Fisher, C. B. (2013). Decoding the ethics code: A practical guide for psychologists. Thousand Oaks, CA: Sage.
• Samimi, P., & Jenatabadi, H. S. (2014). Globalization and economic growth: Empirical evidence on the role of complementarities. PLoS ONE, 9(4), e87824.
• Sandbrook, R., & Güven, A. B. (Eds.). (2014). Civilizing Globalization, Revised and Expanded Edition: A Survival Guide. SUNY Press.
• Rodrik, D. (2018). Straight Talk on Trade: Ideas for a Sane World Economy. Princeton University Press.
• Bhagwati, J. (2004). In defense of globalization. Oxford University Press.
• Stiglitz, J. E. (2002). Globalization and Its Discontents. W. W. Norton & Company.
• World Bank. (2019). World Development Report 2019: The Changing Nature of Work. World Bank Publications.
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• Friedman, T. L. (2005). The World Is Flat: A Brief History of the Twenty-first Century. Farrar, Straus and Giroux.
• Ohmae, K. (1990). The Borderless World: Power and Strategy in the Interlinked Economy. Harper Business.