Critically discuss the view that anti-globalisation arguments Essay - 4

Critically discuss the view that anti-globalisation arguments seriously undervalue the benefits that globalisation has delivered for all countries 01296 - Essay Example In this paper, role of anti-globalisation arguments in undervaluing benefits of globalisation has been critically assessed to determine its validity. According to different scholars, no specific definition of globalisation exists and consequently the debates initiates at this very point. However, in common language, globalisation can be defined as integration of several national markets into one common global forum where national boundaries are largely diminished (Das, 2010). It is an intensification of interconnectivity and movement of trade, finance, human and non-human resources, culture and investment (Robertson, 1992). According to studies, economic globalisation can be considered as the most influential force that has shaped the globe since the wars (Das, 2010; Huwart and Verdier, 2013). Over the time, globalisation became one of the drivers of structural changes with respect to global, regional and national economies. It is also referred to as a powerful transformative force on the face of world economy (Amin, 2004; Das, 2010). It was observed that globalisation has resulted in significant rise in value as well as volume of international trade in goods and services along with expansion in long and short periodic flow of capital (Amin, 2004; Huwart and Verdier, 2013). It was also gathered that liberalisation as a part of globalisation movement cause trade and financial integration and raised economic growth rate and earning rate. As the worldwide economic integration progressed and intensified, it caused increase in efficiency of various tangible and intangible resources and utilisation of inputs (Das, 2010). According to studies in 2007, the volume of goods and services in global multilateral trade was equivalent to $16.9 trillion and it was about 34 percent of total global gross domestic product (Huwart and Verdier, 2013). In the same year, private