Oil Crisis

GLOBALIZATION AND OIL CRISIS One of the most debated topics over the noncurrent few historic period in international economics and transaction is the Globalization process described by the World hope as the growth integration of economies and societies nearly the world[1]. This phenomenon refers not only to the economic or political matters, scarcely in any case to the technological, cultural and social changes that have created a new scenario characterized by the interdependency between nations. Today, more than and more places and people around the world are connected to each other in ways that were previously unimaginable. In fact, anything that happens at a minded(p) location might have consequences all over the macrocosm as the oil crisis, which is going to be discussed further on. In that sense, there has been much discussion about whether internationalization is a positive or negative phenomenon, and even though many a(prenominal) aspects of this process are seen as harmful it is also true up that it has positive aspects. For example, it is usually said that Globalization has increased divergence and environmental degradation.

Even more, it is said that cultural patterns are go away and a common lifestyle is imposing around the world, but situations such as the rapid growth and poverty step-down in some countries that were poor and even unknown years before, are optimistic. This is the case of China and India, which have become more and more important in the global arena overdue to a variety of characteristics that have enabled them to become the fastest growing countries on earth, and in consequence possible superpowers: they are inhabited enough and possess the weight and dynamism to transform the 21st-century global economy[2]. For the past two decades, China has been growing at an outstanding 9.5% a year, and India by 6%. Given their five-year-old populations, high savings, and the sheer amount of catching up they pacify have to do, most economists figure China and India possess... If you want to grab a full essay, order it on our website: Orderessay

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