Structure of the Globalisation Essay "Help" (1 Viewer)

[sk8ie_boi]

Hi,

My school is doing an assessment on this question:

Explain how an individual economy is endeavouring to promote its level of economic activity, in an environment where globalisation is affecting living standards.

I picked India, cuz its a developing country and is affected by gloablisation.

Here is my Essay structure:

Section 1
Brief summary of the country’s economy state and its type of government.
- Economic growth rate
- 18th largest economy
- 30% of its 1 Billion population living under the poverty line
- One of the fastest growing economy

Section 2
An overview of the India’s economic history and recent reforms to improve economic activity.
- 1991’s economic liberalisation program [expand on this]
- One of the largest democratic economy in the world

Section 3
The positive effects of globalisation on India.
- Major reforms in the 1980s to reduce restrictions on foreign trade and investment
- Domestic business able to expand overseas
- Overseas enterprise may use resources more efficiently within the country
- Real wages increases, as foreign business invest into the domestic market
- International competition led to better efficiency
- Improved technology from overseas

Section 4
The negative effects of globalisation on India.
- Environmental damage
- CAD may worsen as foreign investment takes money out of country
- Domestic enterprise unable to compete with international firms

Section 5
The effects of the Asian Crisis in 1997/98.
- Inflation toped 8%

Section 6
Country’s international trade.
- What has the government done to encourage foreign investment?

Section 7
Future economic goals of India.
- Improve living standards​

So any suggestions to that?? I mean, which area should I focus more on?? And also which other things do I need to talk about relating to such topic. Does anyone know any good web sites that may have info on the country?

Thanks
Frankie

 

[nitro.vo]

this may come in handy. I am thinking of changing my current country for a similar essay to india becuase these notes are great. thanks alot

 

[ar5ena1]

Ok, I did India in my HSC question, on economic development and the environment, possible one of the hardest questions in last years paper, and i got 95 overall, so i must have done well.

Essentially what you should note with india is this. Alot of the so called liberalisation reform has not actually come into reality, india still maintains extremely high tariffs on imports, for example alchol in india is so expensive to import, that things like black label johnie walker are 2 to 4 times more expensive than in australia.

now, in respect of economic development, the major point, the one which will earn you high b6 is this.

india has benefited from globalisation, much of the social trends in india are towards westernised fashion and culture, music etc, alot of integration has gone on. the outsourcing of IT to india, and india's recent ability to produce educated workers has made the it industry boom, plus it has cheap labour low overheads etc etc attractive for offshore companies to invest in india hence spurring growth.

the problem is, indians income distrubition or lorenz curve is one of the freakiest in the world is slant towards the rich. the benefits of globalisation don't reach rural areas where the real poverty, the real winners are the emerging middle class of india, and the upper class.

infustructure building is still being centered on cities, and road networks are so poor in rural areas india has enough food to feed its people, it just can't get it out to its people

anyway, if you need more detail rajpatel.email@gmail.com <-- msn

goodluck in economics

---
first yr usyd law

 

[nick1048]

In my opinion you aren't really fully answering the question until the very end and spend alot of time discussing what you know about the Indian economy. "How" is the critical word in this question, you are going to have to recite some government policies and nation wide initiatives on how this country is improving its economic activity. I think your section 5 would be an excellent introduction as to HOW India overcame the unfortunate events of the Asian Financial Crisis. Section 2 is excellent! Sections 3 and 4 need to be related to the individual economy, you are discussing the effects of globalisation. You need not do this. A brief introduction is all that is needed discussing what it is, how it is achieved and its affects on India. Then you go on to say how the living standards have changed due to India's response to this "globalisation" process and how the economy as a whole has adapted to the change in global economic conditions. Sections 6 and 7 address these issues and should be discussed in more detail.

Overall sections 1, 3 and 4 are constituting too much 'generic knowledge' and are complicating your answer. Whilst I agree that they should be mentioned, try to do this very briefly and only in relation to the Indian economy, with regards to the question.

 

[El Pueblo Unido]

Sorry if this is a bit late, just want to add some stuffs.

-->The negative effects of globalisation on India.

Don't forget to mention inequality.
One of the most notable effect of globalization on a developing economies like China and India is the inequality. Throw in some Gini coefficient data.

-->Future economic goals of India.

China is India's rival in the growing economies. China has been able to attract lots of investment more than India due to its advantage over the labour market. India has the advantage on debt collection, one part which China sucks badly. India is able to recollect debt with easiness. Secondly, alongside with growth in the IT sector, India has relatively new labor market that has the potential to match China.

About the politics itself, India need to focus more upon the inequality. Why? because if the government fails to minimize / sustain the level of inequaltiy, most likely social unrest would happen. India has a region called Kerala which is under heavy influence by Communist Party.

The economy was semi socialist back in 1980s. They are reforming bit by bit. Therefore, maybe you could comment on the pace of the reform.

For data, I strongly suggest that you read more from magazines like The Economist or Business Week. There is an extensive discussion about the economies on Business Week's last month's issue I think.