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Impact of Globalisation on UK - Essay Example
Author : faheyhassie
Pages 8 (2008 words)
If we trace the history of fast changing economic landscape for the last one or two years, we find that the finance and banking sector experienced a big jolt in UK. The subprime lending crisis made its way from US and thanks to globalisation spread in good measure all around the world…
The ups and down in equity markets is not a new phenomenon, but the UK equity markets have not recovered from the shake ups. This is a direct consequence of the networking of economies and globalisation.
Globalisation has made its mark in almost all parts of the world over the last two decades in particular. Globalisation as such, has been in existence for quite a while. In the early ages it was essentially limited to business and trade. But with the beginning of the new form of market driven governments, globalisation has filtered down to almost all walks of life like, media, culture, and of course the trade and business practices remain the key segments impacted by the phenomenon. During the early ages, trading companies, particularly from UK and Europe would arrive in a foreign land, make strategic arrangements with the respective governments and influence the ruling class in order to strengthen their business goals. In a number of cases, gradually these companies also succeeded in capturing power in those countries, thus giving rise to the practice of imperialism. Well, the modern avatar of globalisation appears far more sophisticated and customer oriented, as it gives rise to intense competition in the market. While on the one hand globalisation is transforming the face of economic policies, on the other apprehensions are also being expressed about the ill effects. ...