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Globalization and Economic Policy - Essay Example

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Globalization and Economic Policy

The level of competition has never distracted the economic and trade activities of the developed countries, much because the level of competition among the developed countries is diluted. Dell (2001) has concluded that the globalization has however resulted in the era of greater interdependence of the economies due to the provisions of the free trade and relaxed taxation policy, therefore 'the pace of political and economic convergence increased dramatically over the past few decades as states appear increasingly similar in terms of their political structures and economic functions'.
In the view of the above listed facts, the US Presidential candidates Republican John McCain and Democrat Obama have emerged in the field in quest for the presidential throne. Roger (2008) has supported Obama's stand, the presidential nominee has adopted liberal economic policies with non-specific mentioned of taxation policies. Roger (2008) reported that the Democrat candidate, globalization of economy has weakened the states', control over their societies; thus, globalization promotes civil liberties and, eventually, democracy, through socioeconomic development, and this caused has resulted in the independence of the United states, therefore the globalization commenced soon after the independence of the United states, the integration of national economies into the global market place has served as a catalyst to the states' political liberalization

Title: Obama v. McCain: Economic Policy
Author: Tom Traina
Republican Senator McCain has warned that the globalization has certain limitations; however the extent of those has diminished with the passage of time. Tom (2008) reported that the convergence on the economic and trade agenda has motivated the United States to develop mutual and cordial understanding with the developing countries, and such collaboration has evolved keeping aside the religious, cultural and social differences. The United States has been successful in the development of the trade and economic relationships with Muslim countries in Asian territory, therefore the trade and economic policies of the United States are mainly trade oriented, therefore every such policy has provided economic gain to the country. According to Tom (2008), McCain has favored strong trade policies with mineral rich countries; however Obama has proposed stringent economic and investment policies towards mineral resources project.



Title: Globalization, Economic Development and Inequality: An Alternative Perspective
Author: Erik S. Reinert

According to Republicans, the association with EU shall be further strengthened in terms of economic assistance and borrowing. Democrats have warned that the European Union has placed the interests of the United States economy in jeopardy, therefore the selection of the trade and investment plan has to be undertaken after due consideration towards the feasibility plan. Erik (2004) confirmed that the globalization does not grant provisions for approaching every possible opportunity available in the global market, rather the decision has to be taken with sue consideration on the rate of return and security risk associated ...Show more

Summary

Dell (2001) has mentioned that the integration of the national economies and the wave of globalization have nullified the concerns and restrictions which previously halted the trade and economic relationship between the countries. The globalization has provided the countries with an opportunity to develop trade linkages in swift manner, and such possibility has offered better opportunity to the developed countries, and has facilitated their needs and utilities…
Author : devonte31
Globalization and Economic Policy essay example
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