assignement 2

In the past the term globalization has in some way to do with the theory of Emanuel Wallenstein , which stated that all the information , businesses , technologies emerge from the core which is represented by the developed countries to be sent to the semi-peripheries and peripheries represented by emerging and poor countries . However, nowadays businesses jump in both directions. In fact, the flow of economies and businesses shift from south to north, north to south, south to south, and north to north. In general, the doctrine of business is « competing with everyone from everywhere for everything ». The effect of this Globality is represented in the raise of new companies from emerging countries such as Russia or Brazil. In fact, Mark Spellman stated that in ten years emerging markets companies will repents n one third of the Fortune list. For example the most popular beer in America which
Budweiser was bought by Belgian-Brazilian conglomerate. The growth of these developing economies has allowed the shift of power from un to a more balanced system where the importance of the south counts a lot.
However, emerging economies are facing some challenges that may slow the increase of their economic power due to the increase of oil and food prices.
The age of Globality is seen as a flourishing gas as some optimistic people may say. Companies are taking more and more advantages from this process .nevertheless, within this free market economy where industrial and emerging g economies are benefiting, a protectionist umbrella is created in order to face any shift in power and unbalanced of power. this protectionism is a way that some countries such as the USA has undergone in order to save their local job market to sum up , this process of Globality has allowed some emerging countries to have an impact on western industries which has raise some fear but at the same time is benefiting to both sides .