Question

How would you summarize Pankaj Ghemawat's views? Globalization answer by keyboard please no answer written on paper

Answer 1

Globalization has been one of the most talked about subjects in the past decade, where the nations have stressed on the need to go global and make the world as one global economy. There have been aspirations that the World is already a global economy and is flat for all the nations around the globe which enables the nations to carry out economic activities without any bumps in the international market. However, Pankaj Ghemawat, a renowned economist, is of the view that the world is far from being flat yet. According tom Pankaj, Globalization has only achieved its global status in the aspirations of the people and not in reality. Pankaj argues that the world is still to see any form of all-round global strategy either political or economic which could link all nations around the world. Moreover, the nations around the globe are yet to be united to global trade. Trade is the foremost metabolism that would decide the true globalization of the countries. There are many countries who are limited to trade with only a few countries. If the US multinational companies are seen, they are average working in only two foreign countries. It is also imperative to note Pankaj’s thoughts on the one global financial market. Pankaj vehemently opposed this and said that none of the world powers are united in the perspective of one financial economy. It is the top few nations of the world that dominate the world economy and the rest of the countries just feed out of the development of these global powers. Hence the globalization concept ha been very rigidly opposed by Pankaj.