Research Paper on Globalization
The process of globalization has defined the development of the world economy during the last couple of decades. Basically, this process affects the world at the present moment as well and, what is more, the impact of globalization steadily grows stronger. At the same time, the impact of globalization is not limited by the economic sphere only. Nowadays, it is obvious that even though the process of globalization was stimulated by the growing economic cooperation between countries, at the present moment economic integration of countries contributes consistently to the political and cultural integration. As a result, countries start to form international alliances and unions, such as the EU, which overcome national borders. Moreover, the number of international organizations, such as WTO, that facilitates economic, political and cultural relations between countries is constantly growing. On the other hand, the process of globalization produces a profound impact not only on the development of countries but it also affects the development of companies. One of the major characteristic of the process of globalization on the corporate level is the emergence of multinational corporations that play the leading role in practically all industries and nowadays they are viewed as leading powers in the world economy. At any rate, it proves beyond a doubt that it is multinational corporations that, to a significant extent, define the economic development of many regions, the implementation of technological innovations, scientific researches and progress at large. Such a shift on the corporate level naturally affects the role of nation states, which also changes consistently. In fact, nowadays, it is possible to estimate that in the result of economic development, technological and scientific changes, new political trends, the world is entering a new stage of globalization, which effects cannot be predicted absolutely precisely, but still it...
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