Assignment on Globalization of world Economy and Recent financial Crisis

Globalization is one of the most controversial topics of the early twenty-first century. Academic debates currently raging about globalization include whether it even exists, whether it is more important now than at some earlier date whether it is displacing the nation state and whether it is more important than regionalism. Also, of course, there are extensive analyses as well as polemics about whether the results are good or bad and for whom recently; such controversies have spilled over from academic journals to street demonstrations. This paper analyzes the impact of globalization on developing countries over the last several decades with world economic perspective and recently held financial crisis around the globe- into two parts.

The first section examines the concepts of globalization with general and from economic view and its impact on market, production, trade and investment. Moreover, technological aspects, those have impact on globalization like Communication & Transportation, Telecommunications and information technologies etc are described.

Major changes in globalization like changes in FDI patterns, changes in MNC”s nature, global technological collaboration and MNC’s contribution and impacts on world economy by their activities; these are also included in this section.

Contribution of WWW in globalization process in modern days and its benefits is also included. The debate over globalization has given from perspective of economy, cultural phenomenon, political and social issues.

The second turns to financial crisis that have been occurred recently –considered to be the most important aspect of a multifaceted process– and looks in more detail at the changing trends in finance, capital flows, world trade picture for developing countries.

And finally short overview has given regarding world financial crisis and its impact relates with our country.

Globalization is an inevitable and irreversible process, and dealing with the imperatives of globalization capitalizing on its positive aspects and mitigating the negative ones is perhaps the most important challenge for the new millennium. Globalization has enhanced the opportunities for success, but it has also posed new risks to developing countries. Globalization has many faces; however, globalization is first and foremost comprehended in economic and financial terms. In this sense, it may be defined as the broadening and deepening linkages of national economies into a worldwide market for goods, services and especially capital. As a result of a revolution in telecommunications and information technologies, the last 15 years have witnessed dramatic increases in trade linkages and cross-border capital flows, as well as radical changes in the form, structure and location of production. Perhaps the most prominent face of globalization is the rapid integration of production and financial markets over the last decade; that is, trade and investment are the prime driving forces behind globalization. Foreign direct investment (FDI) has been one of the core features of globalization and the world economy over the past two decades.

In this paper an overall phenomenon of globalization and its impacts on various fields are included in a descriptive manner to get a general idea over the national and international perspectives.

Objectives of the Report
Paper is divided in two parts as
From International perspective
1. Concepts of Globalization.
2. Impact of Globalization on market, production, trades and investments from world’s perspective.
3. Technological changes that influence the impact of globalization.
4. Major changes occur in globalization.
5. Changes in the patterns of FDI.
6. MNC’s impact on globalization.
7. Prospect & challenges for the 21st century by the globalization.
8. Globalization debates: prosperity/development for the 3rd world country.
9. Impact of globalization on national sovereignty in terms of political, economy & social.
10. Contribution of WWW in globalization process.

From perspective of Bangladesh
1. Nature of recent world financial crisis that relates with Bangladesh.
2. And it effects in global economy in terms of developing countries.
3. Impact of financial crisis in terms of Bangladesh.