Impact of Globalization on Emerging Markets
Emerging market economies are increasingly influenced by globalization, leading to economic growth, environmental impacts, and technological advancements. Globalization promotes cross-border trade, necessitating adaptation and innovation in financial systems. It also influences environmental protection efforts and technological dissemination worldwide.
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The Affect of Globalization in Emerging Market Economies Mohamed fadel Id number Email: mohamed_3189@limu.edu.ly mohamed_3189@limu.edu.ly 3189 19\4\2022
Table of contents Introduction. The affect of globalization in emerging market economies. Conclusion. Reference. 2
Introduction What is an emerging market economy? An emerging market economy is a developing country's economy that is becoming more integrated with global markets as it develops. 3
The affect of globalization in emerging market economies Economically In terms of economics, globalisation is the process of increased interconnectedness among countries, culminating in the creation of a single global market. Globalisation promotes cross-border trade and the reduction or elimination of trade barriers, resulting in economic growth. Finance One can compare the financial situation in China before and after globalization. Prior to this, the People's Republic of China had loosened its foreign policy; it had a very inefficient financial system, as well as a system that was structurally weak. Because it has brought severe competition to the rest of the world, globalisation has improved this element in inconceivable ways. In the globalisation period, financial institutions such as banks must be more creative and imaginative in raising their standards to match the requirements of the world economy in order to keep up with the quick change in technology as well as the unpredictable business climate. 4
Environmental Impact As a result of businesses active in manufacturing and involved in the emission of dangerous substances that have increased and eventually caused damage of the ozone layer in the globalised globe On the other hand, as a result of globalisation, environmental protection efforts can now be found all over the world. Different nations have signed and made international treaties, such as the Kyoto Protocols, as well as discussions and policies on environmentally friendly productions. 5
Technological Globalisation has enabled the latest technologies to be found in every corner of the globe. Globalisation has meant that no one is left behind in terms of the latest mobile phones, laptops, video games, and other electronic devices. Globalisation has resulted in a greater dissemination of technology around the world. 6
Conclusion Globalisation promotes cross-border trade, which in turn contributes to economic growth.The benefit of properly understanding the global environment today is that emerging economies like China have seen super exponential development. 7
Reference. Ltd, A. A. (2021, December 31). Impact of globalisation on emerging market economies. UK Essays. Retrieved April 20, 2022, from https://www.ukessays.com/essays/economics/impact-of-globalisation-on-emerging-market-economies- economics-essay.php
