It is in the 1980s that the term globalizations started to be used. According to a recent Organization for Economic Cooperation and Development (OECD) publication, the term wasfirst used, in 1985, by Theodore Levitt - 'The Globalization of Markets', a monumental and iconoclastic figure in the field of marketing.
Three areas were globalization plays an importantpart: The EEA is based on the same "four freedoms") as the European Community: the free movement of goods, persons, services, and capital among the EEA countries. Thus, the EFTA countries thatare part of the EEA enjoy free trade with the European Union.
Here, the Globalization allows these EFTA countries to participate in the European single market without joining the EU.
The freetrade agreement allows reducing tariffs on 90 percent of imported goods, to zero.
-Economic and Monetary Community of Central Africa: It is an organization of states of Central Africa established byseveral countries in order to promote economic integration among countries that share a common currency.
Thanks to the globalization, this area allows to:
develop capacities to maintain peace,security and stability
as essential prerequisites for economic and social development
to develop physical, economic and monetary integration
to develop a culture of humanintegration
Globalization has several advantages on the economic, cultural, technological and social characteristics. Thanks to Globalization, free trade between countries increases, thepossibility of war between the developed countries decreases and the local consumer products are exported to other countries.
All the countries involved in the free trade are at a profit.As a result, there are lower prices, more employment and a better standard of life in these developing nations.
Local industries are being taken over by foreign multinationals, Companies...