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  1. Provide an introduction of the region and the three countries within the region. Describe the drivers and effect of colonization within the region and each of the countries.
  2. Discuss how the three aspects of globalization (economic, political, and sociocultural dimensions) influenced the level of economic development for each country.
  3. Discuss the pros and cons of globalization of business within each country.
  4. Identify a significant multinational corporation (MNC) (that originated in another country) that is unique in each of the selected countries. Justify why the multinational companies entered the countries. What challenges did they face? What opportunities did they encounter?
  5. Identify two significant MNCs in which each country participates and describe the effect on each of the three countries.
  6. Identify the significant free trade agreements and trade blocs of each country.
  7. Review the Trade Statistics section in globalEDGE and describe the trade partners and major export/import goods for each country. Among the trade partners, how do you think the exchange rate will influence trade?
  8. Select one country within the region that you will focus on for the rest of the course. Justify your choice.

The PowerPoint presentation should consist of 15-20 slides, not including the title slide and reference slides. You are required to cite scholarly sources to support your claims in the slides. Speaker notes are required in the notes section of the slides. The time limit for the presentation is 15 minutes.

The Origin and Impact of Globalization

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By: Cassidy Crocker, Dillan Martinez, Emilie Wible, Laurelle Aracen Espinoza, Salbina Malik

The Region: Asia

The strongest economy in Asia is China

Emilie

https://tradingeconomics.com/country-list/gdp?continent=asia

Japan:

Japan has never been colonized unlike many Asian countries.

Japan uses the Japanese Yen as currency.

Japan is ranked 23rd freest in the world

Japan is a constitutional monarchy. The Prime Minister has a role in political decisions in Japan as well. They also have an emperor as a diplomatic symbol who does not have actual power in the making of political decisions.

Japanese Emperor Naruhito

Japanese Prime Minister Yoshihide Suga

Emilie

Discuss how the three aspects of globalization (economic, political, and sociocultural dimensions) influenced the level of economic development for each country.

https://www.europarl.europa.eu/thinktank/en/document.html?reference=EPRS_BRI(2020)651951
https://www.heritage.org/index/country/japan

the three aspects of globalization (economic, political, and sociocultural dimensions) influenced the level of economic development for each country.

China:

China uses the Renminbi/Yuan as currency

China has a President, Xi Jinping, but acts more like a dictatorship. China is communist and works with a Cabinet and State Council to make decisions.

President of China Xi Jinping

https://www.bbc.com/news/world-asia-pacific-11551399
https://www.uschina.org/resources/chinese-government

North Korea:

North Korea:

3 Aspects of Globalization: (Economic, Political, & Sociocultural)

The pros and cons of globalization: China

Salbina

China is an exceptional case when studying globalization. The country has initially had a closed market economy, where the government had a central commanding role and the government decided the types of products need to be produced by the enterprises. Wang (2019) mentions multiple benefits that globalization created for the countries economy. It includes increase of international trade, foreign direct investment, opening of workplaces. If the country has been primarily used for a cheaper workforce, but a boost of economy has benefited the new high technological industries. The country has launched and started producing own gadgets, home appliances and many other highly refined goods. China has been able to cope with the challenges the globalization brought and has timely changed its financial system (Grossman et al., 2020). If the country has entered the international market as a raw material exporter and a country with cheap labor force, now the country is a leader in e-commerce, an active capital market participant (“China and Globalization”, 2021). Moreover, it is now transitioning into a globalization leader rather than a country which is globalized. New technology, trends and goods are produced in China.

As for the disadvantages, the worst effect of flourishing industry is the worsening of the ecology. Some regions of China have extremely polluted air and soil. This negatively affects the health of the population (O’Meara, 2021). Moreover, China has been long viewed as a cheap labor force country and, thus, globalization led to a creation of a low paying jobs for the local population. Another problem appearing along with the globalization is the competition created by multinational companies that do not allow the development of the local small and medium enterprises (Wang, 2019).

The pros and cons of globalization: North Korea

Salbina

North Korea is a country with certain economic and political peculiarities. Bajpai (2021) explains that the country has strictly controlled economy, where the amount and range of internal production is dictated by the government. Thus, one can argue that Korea is not globalized at all. Absence of globalization in some way benefits the leader of the nation and the government, as the population does not have possibility to compare the goods produced and traded on an international arena. There are two countries that could to some extent influence the North Korean economy. They are South Korea (Mulyaman et al., 2021) and China (Bajpai, 2021). In fact, Bajpai (2021) states that 86% of exports and 90% of imports of North Korea are with China. This has slightly increased the revenue of the country and allowed to increase productivity. Moreover, Mulyaman et al. (2021) explain that during arming the relationships between the South and North Korea, some economic interactions have been performed, which had a very slight influence on the North Korea’s economy.

As for the cons, taking into account the limitedness of globalization within North Korea and absence of valid information, the cons are not known.

The pros and cons of globalization: Japan

Salbina

Japan has been one of the first countries in the region to benefit from globalization. In fact, this upward pace has started in the middle of the twentieth century and has been called a flying geese paradigm, which meant that Japan has started the rapid growth benefiting from globalization, and other countries followed its path (“Japanese Economy and Globalization”, 2021). For Japan there are more advantages of the globalization than disadvantages. The first, as the country became open to foreign investors, a considerable amount of money has been invested in Japan and it, on its turn, has boosted the productivity. Altogether, these factors led to an advancement of the industrial structure. If more than 60 years ago Japan exported raw materials, in almost 3 decades it started exporting more advanced and refined goods (Shixuan, 2020). Today, Japan is one of exporters of advanced appliances, machinery and vehicles. As enterprises grew and advanced, thus, the GDP increased considerably as well. In addition, as stated by Shixuan (2020), life quality indices improved greatly along with the development of the whole economy, where the globalization has played a considerable part.

However, one there were some drawbacks to numerous aforementioned advantages. Initially, the foreign direct investments were made into labor intensive industries, rather than technologically advanced ones (Webster, 2001). This meant that Japan in some terms was used as a base of manufacturing, where labor force was cheaper than in a country, where headquarters were located. Moreover, as Grimes (1999) and Iwatani et al. (2011) discussed, the financial system of Japan was not ready to be a part of global capital and finance markets. This meant that Japanese investors were limited in ways of buying equity in companies located in other countries. This is connected with another drawback that Japanese companies were, in fact, less globalized and, thus, were losing in competition in capital market (Shixuan, 2020).

China

– Launched in 2006

– Most of the services offered by google china have been blocked

Japan

– Launched in September 2000

– Most popular search engine used

– Users able to access information worldwide

South Korea

– Used less than 30% of the population

– Blocked by many webmasters and local businesses for security reasons

What is Google?

Internet-related service

Provides a search engine, cloud computing, and advertising technology

Has emerged as one of the best multinational organizations to work for

Dillan

Yamada, Y., Yuji Yamada / About Author More posts by Yuji Yamada, & Yamada, M. (2019, July 26). Most Popular Search Engines in Japan. Retrieved February 01, 2021, from https://www.theegg.com/seo/japan/most-popular-search-engines-in-japan/

Sheehan, M. (2020, April 02). How Google took on China-and lost. Retrieved February 01, 2021, from https://www.technologyreview.com/2018/12/19/138307/how-google-took-on-china-and-lost/

Krush, A. (n.d.). Google vs. Naver: Why can’t google dominate search in Korea? Link. Retrieved September 29, 2021, from https://www.link-assistant.com/blog/google-vs-naver-why-cant-google-dominate-search-in-korea/.

MNC’s in Countries: Effects of Apple

Japan

Apple consists of over 51% of all phone sales in Japan

Iphones intended for sales in Japan are customized specifically for Japanese privacy laws

South Korea

Apple has provided about 325,000 jobs in South Korea

These jobs include distribution, App Store and software design, and marketing

China

Apple built its business using China to manufacture a majority of its products

Apple has created about 4.8 million jobs in China.

Cassidy

Free Trade Agreements & Trade Blocs:

Laurelle

Trade Statistics:

Laurelle

Major Export & Import groups:

Cassidy

The Country We chose to Focus On: Japan

Japan’s economy relies on its manufacturing capabilities

Japan has the second largest economy in the world

Japan has a free market economy

Japan is more technologically advanced

Yamada, Y., Yuji Yamada / About Author More posts by Yuji Yamada, & Yamada, M. (2019, July 26). Most Popular Search Engines in Japan. Retrieved February 01, 2021, from https://www.theegg.com/seo/japan/most-popular-search-engines-in-japan/

Sheehan, M. (2020, April 02). How Google took on China-and lost. Retrieved February 01, 2021, from https://www.technologyreview.com/2018/12/19/138307/how-google-took-on-china-and-lost/

Krush, A. (n.d.). Google vs. Naver: Why can’t google dominate search in Korea? Link. Retrieved September 29, 2021, from https://www.link-assistant.com/blog/google-vs-naver-why-cant-google-dominate-search-in-korea/.

References

Bajpai, P. (2021). How the North Korean Economy Works. Investopedia. Retrieved 19 September 2021, from https://www.investopedia.com/articles/investing/013015/how-north-korea-economy-works.asp.

China and Globalization. Asia Society. (2021). Retrieved 19 September 2021, from https://asiasociety.org/china-and-globalization.

Grimes, W. W. (1999). JAPAN AND GLOBALIZATION: FROM OPPORTUNITY TO CONSTRAINT. Asian Perspective, 23(4), 167–198. http://www.jstor.org/stable/42704238

Grossman, Flock, Lynch, Gramer, Quinn, & Schrader. (2020). China Is Weaponizing Globalization. Foreign Policy. Retrieved 19 September 2021, from https://foreignpolicy.com/2020/06/05/china-globalization-weaponizing-trade-communist-party/.

Iwatani, N., Orr, G., & Salsberg, B. (2011). Retrieved 19 September 2021, from https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/japans-globalization-imperative.

Japanese Economy and Globalization. Www5.cao.go.jp. (2021). Retrieved 19 September 2021, from https://www5.cao.go.jp/zenbun/wp-e/wp-je04/04-00301.html.

Mulyaman, D., Ismail, A., Carollina, N., & Zefanya, M. (2021). Comparison Analysis of Developmentalism in Globalization Era: Indonesia Joko Widodo’s Presidency (2014-2019) and South Korea Moon Jae-In Presidency (2017-2020). Jurnal Inovasi Ilmu Sosial dan Politik (JISoP), 3(1), 33-42.

O’Meara, S. (2021). Ecology in China. Nature.com. Retrieved 19 September 2021, from https://www.nature.com/collections/jcjfdegfjj.

Shixuan, T. (2020). Japan and globalization. ArcGIS StoryMaps. Retrieved 19 September 2021, from https://storymaps.arcgis.com/stories/620bddbcb40d4862a74cc2efef9029f8.

Wang, H. (2019). China and globalization: 40 years of Reform and Opening-up and globalization 4.0. Journal Of Chinese Economic And Business Studies, 17(3), 215-220. https://doi.org/10.1080/14765284.2019.1667099

Webster, F. (2001). Globalization does its work on Japan. The Japan Times. Retrieved 19 September 2021, from https://www.japantimes.co.jp/culture/2001/03/20/books/book-reviews/globalization-does-its-work-on-japan/.

References

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