Globalisation,Multinational Enterprises(MNEs) and Free Trade Essay

Globalisation,Multinational Enterprises(MNEs) and Free Trade - Essay Example Global integration is facilitated by the existence of a global infrastructure that fosters easy communication and transportation of labour and products. This plays a critical role in creating a borderless society, which reduces the world into a village. In addition, connectivity reduces the time spent in the production of goods and services, which ensures efficiency among manufacturing industries. Under globalization, international bodies such as the European Union provide guidelines to govern economic activities among member states. Globalization is associated with increased economic growth where nations are open to new opportunities for trade and investments. Integration fosters the removal of barriers such as trade restrictions, quotas and tariffs, which attracts economic stimulation through economic drives. In this sense, new markets emerge in countries of interest with services such as banking, transport and insurance being established. Similarly, globalization encourages efficiency in business thus lowering national barriers to trade and investments. Advances in manufacturing technology as well as in communication facilitate efficiency. The internet provides an effective mode of communication such as email and video conferencing, which bridges geographical barriers and facilitates efficiency. Integration is governed by rules and regulations, which ensure democracy and rights of the citizens are upheld. An increase economic success is associated with improving living standards among citizens in the country. However, globalization also has negative impacts to the society relating to loss of autonomy, which leads to harmonization of standards between nations. In the same manner, international bodies take precedence over national bodies where economic activities are supervised by multinational institutions such as World Trade Organization, International