Globalization!!!!

A) Wow i thought that i knew what globalization was but really it is much much more. Globalization is essentially the unification of the world into one big single society that functions together. It allows the entire world to be able to trade together, make global wide investments, the spread of technology, capital flows, and migration can occur. Now the different cultures and types of people all have the opportunity to live wherever they please.(wikipedia) Globalization does have its positives and negatives though. Globalization is like opening up all trade lines, which makes trading much more cost effective, because everything can be done globally. Which is definitely look at as a positive. But one the negative thoughts on it is that in the long run, it makes the rich richer, and the poor poorer. *** :) (that reminds me of that Santana song maria maria, they say something like... and as the rich keep getting richer, the poor keep getting poorer.) :) sorry off track just a little :) oops

B) I found that one place that globalization is impacting greatly is India. First of all it explained how since India opened up their country in the early 90's the tariff rates have reduces greatly. These are the percentages that they gave. "The Indian tariff rates reduced sharply over the decade from a weighted average of 72.5% in 1991-92 to 24.6 in 1996-97.Though tariff rates went up slowly in the late nineties it touched 35.1% in 2001-02. India is committed to reduced tariff rates. Peak tariff rates are to be reduced to be reduced to the minimum with a peak rate of 20%, in another 2 years most non-tariff barriers have been dismantled by march 2002, including almost all quantitative restrictions."(http://economics.about.com/od/globalizationtrade/l/aaglobalization.htm) Also they talked about how globalization is effecting the growth rates. In 2003-2004 (this study is a little old) India was the largest growing population after China. Before that though from 1990 to 1997 the growth rate went up over 70 %. That is a huge amount and the global economy helped boost the numbers that high. But shortly after that they took a huge dive and went the lowest that they had ever been, which was 4.3% in 2002- 2003. This was because of the great water drought that they were in. Although in 2003-2004 the growth rates were expected to go back up to 70%. Also this website talked about the extreme amounts of poverty, new technology, and the proposal, made by Bush, to eliminate all tariffs on manufactured goods by the year 2015. It thought that this was a very informational website and i really enjoyed learning about globalization from another countries point of view, and learning a lot more about globalization.

C) One thing that i noticed that really screams GLOBALIZATION :) is toys and trinkets. I cant even count how many things i have looked at and read "made in China" or "made in Indonesia." I think that this is totally a sign of globalization in my community. We import so many of our toys from china and foreign countries because of the trade availability(caused by globalization) If i go to the local Target, or any store that sells toys, and look on the back of a toy, a good amount of them will say made in china, etc... because it is cheaper to manufacture them in other countries and then ship them here to America.

D) notes from Professor Archer, and Google (searching globalization impacts)