Globalization, Free Trade And Import - Expert Assignment Help
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Globalization, Free Trade And Import - Expert Assignment Help

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Question

The aim of this assignment is for students to demonstrate an understanding of health promotion  strategies, including education strategies that address the needs of clients with chronic diseases that  empowers them to self-manage their condition. The provision of education to enable people to make  decisions and to take actions in relation to their health is part of the role of the Registered Nurse  (Nursing and Midwifery Board of Australia, 2016). 

This assignment addresses the following course learning outcomes: 

1. Apply health promotion and illness prevention practices to support people diagnosed with chronic  illness; 

2. Evaluate person-centred care for optimal self-management and promotion of active participation of  both individuals and families in symptomatic management of chronic disease;

3. Analyse primary health care and health promotion strategies that address the needs of those with  chronic diseases. 

Solution

Overview

International business is the trade and investments that are done across the international borders and business transaction performed with one or more countries. Over the years, the economy of each nation has stopped being self-sustaining, and the trend has been tipping towards a global economy where from a macro point of view, globalization, free trade zones are becoming equally important as regionalization of each product and service in a single nation. The discussion in the next few pages shall show the impact of globalization on the economy of a country and free trade and its impacts on the import and export of the domestic country (Cavusgil et al. 2015). 

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What is Globalization?

International trade is a mutually conducive arrangement between the nations where they share what they produce enough in lieu of products that they lack in. This form of trade improves the economy mainly due to comparative advantages, economies of scale and, at times, even lower price. 

Globalization of production and globalization of trade complement each other since they cannot work without each other. Silk Route testifies that international trade has been there for centuries, but it has developed on a larger scale over the last 600 years. Globalization helps in having a seamless trading relation across international boundaries and the resultant opening up of the global economy. Countries that had a closed-door to FDI and trade have now opened up their doors to foreign investment and trade and are going global as a part of globalization (Hirst, Thompson & Bromley 2009).

Impact of Globalization on Domestic Economy

Globalization is based on the theory of comparative advantage, according to which the country which has enough production of a particular good can export that product to the country which is not efficient enough to produce the same quality or quantity. The assumption that goes along with this principle is that all countries are not proficient at producing all kinds of goods and products, and thus this is a win-win situation for all the countries while trading with each other. Globalization also conforms to certain rules and regulations of the WTO or World Trade Organization while performing trade between countries (Mminele & Dombret 2017). 

However, there are several arguments for and against the impact of globalization on a country's economy. Proponents of globalization suggest that prices are driven down due to competition between different countries for the same type of product. However, over the years, this principle has proved to be wrong since several countries have the capability of manipulating their currency and get an advantage in pricing based on that. Poor countries are provided with the chance to develop their economy through the influx of foreign capitals and advanced technology. Again, this is a hypothetical goal that has not been achieved by most of countries (Collins 2015). Cultural and information exchange between two countries provide an exposure to each country to learn more about the other country and adapt the positives of each other. But this is also a myth, most of the times. Another positive side of globalization is the movement of labour from one country to another, but that, at times, poses a problem for the domestic nation due to the influx of foreign labour and downhill pressure on domestic wages (Simas, Wood & Hertwich 2014). The major problem that the developed countries face is that the jobs are lost and are transferred to countries with cheap labour. In many cases, it has also been seen that Multinational Companies are exploiting the tax benefits in other countries and depriving the domestic country by not paying taxes (Guide 2015). 

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