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  • Essay / The impact of globalization in Belgium - 1162

    IntroductionGlobalization is becoming important today because it depends more and more on the world. Globalization can be defined as an increase in trade in an open, integrated and borderless economy (Intriligator, 2003). Globalization is often used to refer to economic globalization. The integration of national economies into the international economy through trade, foreign direct investment, capital flows, migration and the diffusion of technology. Furthermore, globalization can also be defined as a process of greater interdependence between countries and their citizens. It is an increased integration of product and resource markets between nations through trade, immigration and foreign investment, that is, through international flows of goods and services, people and investments such as equipment, factories, stocks and bonds. It also includes non-economic elements such as culture and environment. Globalization can be classified into three types of waves: first wave, second wave and third wave. This globalization has a different time period because it has different factors that lead the changes to become better from globalization. The first globalization took place between 1870 and 1914. At this point, globalization occurred when tariff barriers fell and new technologies were invented to reduce transportation costs, such as the shift from sail to steamboats and railways. The first wave ended with the First World War and the rise of protectionism. Subsequently, the second wave occurs from 1945 to 1980. This type occurs due to the decrease in transportation costs and specialization of manufactured goods in developed countries. This specialization in manufacturing products...... middle of paper ......content.cgi?article=1012&context=honors_financeTytgat, K. (2011). Language policy in Flemish higher education in Belgium: English in an academic context. Department of Applied Linguistics, Erasmushogeschool Brussel, Belgium Schwab, K. (2013). The Global Competitiveness Report 2013-2014 World Economic Forum. Retrieved from http://www3.weforum.org/docs/WEF_GlobalCompetitivenessReport_2013-14.pdf Tim, VR & Marx, I. (2013). Growing inequalities and their impacts in Belgium. GINICountry Report Belgium. The European project “steLLLa” (nd). European dimension: Belgium Lifestyle. Retrieved from http://www.stellla.eu/life-style-belgium.htmlInstitute of Statistics of the United Nations Educational, Scientific and Cultural Organization (UNESCO), International Telecommunication Union, Report and basis data on the development of telecommunications/ICT in the world.