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The Changing Global Economy


Land eventually move away from nation-state, cultures, and tribalism defined by historical borders, language, and religion towards a more global culture that is necessary for human civilization to move to even greater and bigger endeavors. In this paper, I will be focusing on four aspects of globalization: development, migration, finance, and trade. For development, I will centralize my claim on how globalization has developed and modernized the developing countries, specifically, South Korea. For migration, I will argue how globalization can increase the number of migration and through that, that the countries naturally exchanged ideas, cultures and technology; but moreover, provide many countries with a large workforce. For finance, I will talk about the World Bank and the International Monetary Funding (IMF) to prove that globalization made economic superpowers affect the world positively because most nations are economically interdependent. And lastly, for trade, I will argue that global trading groups, such as NAFTA and WTO have expanded trade in many nations and this led to a globally shared wealth across the nation. Throughout this paper, the term "globalization" will be used. In the paper, globalization can be understood as the interaction between countries that lead to interchanging of ideas, cultures, and worldview. Not only that, I used globalization to imply the proclivity of a nation towards open trade and open economy.
             Globalization should continue to exist and be supported by all nations because it develops developing countries through providing a motive to overcome "systematic vulnerability" and providing a blueprint of highly modernized nations to follow and model itself to. Kevin Rudd, a former Prime Minister of Australia and current Member of Parliament argued that the best part about globalization is that it lifts economic growth rates and living standards around much, though not all, of the developing world, and in developed countries as well.


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