Global Economy

Global Economy is a term that is commonly utilise to explain a complex system made up by different economies and markets around the globe. Over years, decades and centuries the macrocosm(a) deliverance went through many changes including recessions as swell periods of prosperity. The condition of the global thriftiness is influenced by unfixed factors and circumstances, which are relevant to a specific period of time. Nowadays, in the age of capital globalization, the cosmos economy consists out of economies that are interdependent and rely on each other which if influenced by numerous important actors. age during the early twentieth century the main actors in global were states and governments, straightaway actors such(prenominal) as corporations, international institutions, as well as governments play out an important role in in knowledge base economy. Changes that have occurred in the global economy in the past century direct corporations to become the main actor in the global economy. The fact the states around the world created international organizations to promote free trade makes them the source to todays global economy, but not main actor.



knock-down(a) states such as the United States and western European countries led to the situation that the big corporations, like Wal-Mart, control most of the worlds economy (Rothkopf in Eitzen, 2009: 102). Wal-Mart is a retail corporation, which makes up 2.3 percent of the United States gross national product and plays a major role in economies of third world countries such as Bangladesh (2009: 93). Wal-Marts business strategy influences both domestic and international economies. When Wal-Mart maximizes its profit by selling its goods for the lowest monetary value it eliminates competition but it also results with a low net profit paid to its workers. Consequently, competitors businesses would do the same by lowering prices as well as reducing salaries. That leads to a poorer society and a downhill in the domestic economy. Obviously, an unhealthy economy in a...If you want to get a full essay, order it on our website: Orderessay



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