The Mexican food company Bimbo responded to global competition by defending their deep penetrating distribution system that reached far-off rural areas with 420,000 deliveries daily through 350,000 stores, thus creating a huge barrier to the entry of PepsiCo, whose reach was largely big supermarkets in urban areas. Apart from economic trade, the Silk Road also was a means of cultural exchange among the various civilisations along its route. Each of the above indices is allocated different weights: economic globalization (36%), social globalization (38%), and political globalization (25%). It can be argued that cultural globalisation distorts and harms cultural diversity. Globalisation Essay: The term Globalisation usually refers to businesses practices followed by companies in which their operations and human resources are beyond the countries borders and are on a truly international and global scale. Portugal became the major shipper of spices to Europe for the whole of the sixteenth century, usurping this role from Venice. It augments the flow of technology, education, medicines, etc., to these countries which are a real blessing. The integration of national economies under the WTO framework has restrained countries from increasing tariffs and imposing explicit non-tariff trade barriers. The globalisation has had profound and lasting influences to UK economy. After numerous years, globalization has fetched major uprising inside the Indian marketplace when international brands arrived in India such as KFC, PepsiCo, Mc. Welcome to EconomicsDiscussion.net! Reaching out beyond national borders is the only way to find new opportunities for tiny countries. To begin with, Indian goods were excluded by legislation in Britain. Besides the intensification of market, competition has also compelled domestic producers to reduce prices. Is it a new concept or did it exist earlier? Economic restrictions became pervasive around the world after World War I, leading to de-facto de-globalization. It stands for expanding cross-border facilities and economic linkages. In a nutshell, globalization has reduced the distance between nations and its people. This has significantly enhanced the vulnerability of stocks that were hitherto considered impervious. It was only after AD 1500 that some western economies, such as Italy, France, and Germany emerged with 4.7 per cent, 4.4 per cent, and 3.3 per cent share, respectively, in the world GDP whereas the UK and the US merely contributed 1.1 per cent and 0.3 per cent, respectively, of the world GDP (see Fig. Competition on a global scale leads to products and services of higher quality. Since the driving forces of globalization are considerably stronger than the restraining factors, globalization of business assumes much higher significance. Getting ‘Bangalored’ is often used in a pejorative way in the US to refer to the loss of a job because it has been exported to India. The restrictions imposed by national governments by way of regulatory measures in their trade, industrial, monetary, and fiscal policies restrain companies from global expansion. However, with the emergence of unit families that have both parents working, television has become the prominent source of acculturation not only in Western countries but in oriental countries as well. Globalisation can simply be defined as the process of integration and interaction between different people, corporations and also governments worldwide. The cross-country comparison reveals (see Fig. Rich countries spend US$300 billion a year on agriculture subsidiesâmore than six times the amount they give away as foreign aid. 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