Wednesday, July 18, 2018

Globalization concepts have been fully applied in contemporary times


Globalization concepts have been fully applied in contemporary times

The markets of different countries have protected their local firms and competing enterprises, to make them stand on their own capabilities and then when the rightmost moment has been recognized, have made them open for taking on the foreign firms in the international markets. The trick of these nations have always benefitted their own cause, and sooner it has been practiced, the more profits have been realized from the world market. The Industrial Revolution of 19th century represents the same trends and scenarios where the English markets in particular were put to preparatory days and given protection by the nations, and finally the markets were liberalized to provide the rest of the world with cheaper products with better quality at ease. This always resulted them with gaining of more and more profits.
However, the age of globalization, that necessarily implies the integration of global markets, has benefitted the cause of different business firms that are strong enough to claim their share out of the international markets with efficient efforts. The so called integration of markets has really put down the costs of manufacturing for business firms, as they ether offshore their business operations or do make good use of offshore outsourcing to help themselves increase their own profits.
The countries with cheap labor and highly efficient work force like that of China are now being exploited as sourcing from China is not a tough task at all. Not even the offshoring services are required for the business firms to set up plants and manufacturing units in different countries other than the parent ones. The China outsourcing agents make sure their clients are always benefitted from their presence in the market, and there are no losses for them as well.
The import from China is thus not a big issue as it was earlier, prior to the integration of markets. The merchants, firms or industries need not extend and expand their manufacturing units and area under operations physically, but all they have to do is to make sure a China sourcing company is hired to make them good profits. Thus, imports from China are now costed low for the enterprises as they keep on hiring the best China sourcing agent to help their own cause of cost reduction, for the benefits of integration of markets or globalization have to be used with the best potential.
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