The process of globalisation and its impacts on international business Essay

The process of globalisation and its impacts on international business activities - Essay Example ocess is further understood in the 20th century colonialism in Africa and Latin America, where the capitalists seek to extend their dominion and individualism ideas to the ‘new’ worlds. During this epoch, new economies emerged through the adoption of capitalistic model of governance, which catapulted the Western European countries to financial glory in the early 19th century. Mann (2006) summarises in his book that the process of Globalization was deeply founded in imperialism. Economies opened up for accrual in the First World realms at the cost of exploitation of the Third World nations. In this phase, the outlook of Globalization relied on the leadership fashion of the rulers of that time. The leadership mentality enabled the imperialists distinctively segregate people based on social strata, enabling them further exploit the Third World countries. The raw materials from these nations were extracted and utilised in military and administrative developments by the First World countries; this way, the economies continued to flourish whereas the poor nations were hard-pressed more to paucity. The next stage of Globalization centred on inter-imperial business actions. The joint trade between the European states, the United States of America and more recently, Japan founded a chain of groups on regional echelon, collectively with the governing powers. The economic alliances gave rise to collaborations and competitions in the business realm, leading to a faceoff for market share control by the multinationals. The coalition also bolstered the exploitation of the Third World markets more effective (McCarthy, 2012). Foreign trade forms a fundamental part of Globalization. Transfer of supplies on an international scale is closely interlaced with the different orders of the social ladder and the commercial markets. The nature of the relationship helps the facade of Globalization attain a class disposition (Gilbertson, 2009). As much as the morphology of