The Effects of Globalization on India

This video elaborates on the influence that America has had on India and its effect on globalization. America and India have had a early start in history in trade, which has overtime led to the current globalization, which is the "development of an increasingly integrated global economy marked especially by free trade, free flow of capital and the tapping of cheaper labor markets." Globalization has caused India to become strong economically and has allowed way to pick those up suffering from poverty. In terms of working, many of those in India work at call services during the night time, working with people across the world. In comparison to those of America, it is very cheap labor. Globalization has also had a great impact culturally as many of them now have means of technology such as computers, cellphones, etc. Economically speaking, India has transformed into a country of spenders, rather than savers. The term globalization has evidently impacted not only India, but numerous countries that are now evolutionizing and becoming better.

CNN - Obama on globalization

The reason why we chose this video is because it is a great example of expert evidence, from President Barack Obama himself. Obama informs us of the effects that globalization is having on the world today. He voices his opinion on globalization as well as the actions he plans to take in order to improve conditions. He mentions how we are capable of keeping competing with the countries that are rapidly improving in technology, however we must forget the ways of the past. In order to compete and keep up, we too must move forward. This seeks a great effort to deal with the issue of globalization and how to keep up with the other countries surpassing us.

Background Knowledge Project

Title : "China Urges Nations to Make Economic Globalization a Balanced Win-Win Process."

Author : RTT Staff Writer

Source : RTT News

Link: http://www.rttnews.com/Content/GeneralNews.aspx?Id=1707374&SM=1

Key Terms :

- "Economic globalization a balanced and win-win process"
- "International multilateral trading system"
- "International affairs"
- "Equality on global platforms"
- "Progressive growth"
- "Fair, open, equitable, and non discriminatory"
- "Will not repeat the mistakes of other great powers"
- "Dominate other nations"
- "Equally participate"
- "Jointly safeguard world peace"

[Image Source] : http://www.captiveadaptations.com/media/images/IndoChina.gif

Title : "Bangalore - The City Globalization Built."

Author : Rupa Subramanya Dehejia

Source : The Wall Street Journal

Link : http://blogs.wsj.com/indiarealtime/2011/09/05/economics-journal-bangalore-the-city-globalization-built/?mod=google_news_blog

Key Terms :

- "Fly below the radar"
- "Liberalization"
- "Seat of Power"
- "Banking, finance, and Bollywood"
- "Globalization is a two way street"
- "Series of clusters"
- "Internalize the externalities"
- "Agglomeration economies"
- "Spill over effects"
- "Bangalore embodies the rise of India's new middle class"

[Image Source] :

http://meetyourindianreplacement.com/photos/globalization-corporate-greed-venn-diagram.png

Title: "Computer Trading, Globalization are Factors in Market Swing. " 
Author : Rick Boom
Source : Hometownlife
Link : http://www.hometownlife.com/article/20110818/NEWS10/108180568

Key Terms :

- "Volatility"
- "Diversified"
- "Spread Money"
- "Different types of risks"
- "Computer trading programs"
- "Both good and bad"
- "No longer limit investments"
- "Domestic markets"
- "No way to eliminate it"
- "Events in Asia and Europe affect our markets"

[Image Source] :

http://www.technologyrobos.com/wp-content/uploads/2011/08/Computers-globalization-factors-in-market.jpg

Title : "India's Outsourcing Miracle Feels the Chill Winds of Competition."

Author : Robin Pagnamenta

Source : The Wall Street Journal

Link : http://www.theaustralian.com.au/business/world/indias-outsourcing-miracle-feels-the-chill-winds-of-competition/story-e6frg90o-1226131923369

Key Terms :

- "Outsourcing"
- "Call centres"
- "Language and culture"
- "Brand"
- "Wider Market"
- "Software development jobs"
- "Global economic slump"
- "Fierce competition"
- "India remains world leader in wider market for outsourcing"
- "Trend"

[Image Source] :

http://www.theaustralian.com.au/business/world/indias-outsourcing-miracle-feels-the-chill-winds-of-competition/story-e6frg90o-1226131923369

Title : "That Used to be Us: How America Fell Behind in the World it Invented and How We Can Come Back. "

Author : Gregory M. Lamb

Source : The Christian Science Monitor

Link : http://www.csmonitor.com/Books/Book-Reviews/2011/0908/That-Used-to-Be-Us-How-America-Fell-Behind-in-the-World-It-Invented-and-How-We-Can-Come-Back

Key Terms :

- "Entrepreneurial spirit"
- "Creative Energy"
- "Technological advances have enabled new economic and political competitors to take advantage."

- "Living beyond means"
- "Getting lazy"
- "A reader awaits for some fresh solutions to country's massive problems."
- "Adapting to globalization"
- "Adjusting to the information revolution"
- "Coping with budget deficits"
- "No job is safe"

[Image Source] :

http://images.borders.com.au/images/bau/97803742/9780374288907/0/0/plain/that-used-to-be-us-how-america-fell-behind-in-the-world-we-invented-and-how-we-can-come-back.jpg

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What is the image about?

This image displays how globalization works as a development cycle which includes planning, designing, and implementation. This refers to technology that is rapidly being produced and the education and knowledge being attained globally. This diagram shows how globalization can also be improved, or made better, in order to benefit everyone.

Explain the message this image contriubutes to the conversation about globalization and America's youth, etc.

Globalization reflects improvement and rapid evolution. This is what is being reflected in this diagram, and how to make this effort even greater. The steps include planning, requirements, analysis and design, implementation, followed by testing and evalution. This is relevant to what is going on globally in the sense that such like third world countries, are gaining education and constantly getting better at the things they do. This diagram presents an idea for improvement. In relation to the youth of America, this is something that can be learned from as they are attaining education and skills necessary to be successful.

[Image Source] :

http://www.ibm.com/developerworks/rational/library/oct07/hsieh_wang/image009.jpg

What is the image about?

The image is displaying the imbalance of people getting paid to do things in different countries, in comparison to those of America. This specific image portrays economists, more than likely of America, discussing the pay scale of economists in India. They are aware that they get paid way less than those of America, for doing the same job. This political cartoon makes an effort at displaying the issue of globalization.

Explain the message this image contriubutes to the conversation about globalization and America's youth, etc.

The issue of globalization expresses the fact that the third world contries are rapidly evolutionizing, while America is descending or remaining stagnant in technology. In addition, the people in those third world countries get paid way less wages to do jobs that people in America do to the same capacity and ability. Places such as India are becoming more and more educated and are using their knowledge to seek better jobs and findings. However, there is still a great imbalance in terms of pay. America has become dependent on these countries and workers as to pay less to have certain jobs done.

[Image Source] : https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjaWcSkW8aFpDNgxTCAk6a1I_Wbl7fFdW_u4HFfYLZ94YzclJWvHFO2XW7IIlqGXZwgKvI3hQqRPFET_j3GyM3B0rMCKSWxv38nvky0VV-uY6ymCBsZtNJrjZEVHp5wgZ7YlHLoJ28hJQk/s1600/globalization+economists.gif