Globalization s Effect On The World Economy - 1624 Words

Globalization’s Effect on the World’s Economy The economy is based of both producers and consumers, but the customers are the ones that ensure the success of each company. More than half of the world’s population lives in a portion of Southeast Asia (Schuman). The population of Southern Asia is affecting the economy of other countries around the world because so many consumers are located in one condensed area. The Countries of China, India, and Japan consume many American goods that help both countries’ economy grow from recovery of the stock market crash. However, the Asian countries seem to be benefiting more from this globalization of the economy than America. About fifteen years ago, around the time of the nineteen nineties, the Asian countries along with other countries around the world experienced an economic slump that resulted in a financial crisis. This came right after major investing and big spending had occurred in these countries. It is believed that the cause of this economic slump is because of the unpredicted economic growth that came upon these countries so quickly (W.L.Hill). However, it is projected that the Asian countries would be among the first to recover because of their ability to diligently manage money in hard times (Szustek). Chinese people make up most of the Southeastern Asian population, a big part of the economy from there is based off of China. Before the nineteen fifties hit in China, the conditions were not good for people living there.Show MoreRelatedThe Economic Globalization Of India935 Words   |  4 Pages Economic Globalization has swept across the world since the end of WWII. Slowly but surely all the nations across the world have been impacted by Economic Globalization. India for example, has been one of the countries that has been recently hit by the storm, and India’s economy can be seen to still be shooting up. 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