Paper Example on Understanding International Business

Paper Type:  Report
Pages:  7
Wordcount:  1872 Words
Date:  2022-09-26


There has been increasing integration of the global economy since World War II. The rise of Brexit has led to negotiations regarding the future of the EU as well as the global economy. It was a decision of the UK and its citizens to leave the EU. The Brexit decision was supported by a coalition of voters who were probably left behind by modern Britain. Some of the people left behind were those with unstated demographic factors including age, economic situation, education level, and tension between their values and their ability to cope towards social change. Therefore, it was all the decision of social and economic exclusion. The decision could be an impact to the global economy that would lead to greater integration of ideas such as the starting of protectionism. The impact on globalization is dependent on the support of sovereignty from the EU or a protest concerning the social and economic struggles of the nation (Boudreaux, 2008). The UK voted for Brexit because of national sovereignty and immigration.

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In the case that Europe would want to remain democratic, the people of the region should develop collective identities of the EU. In international integration, understanding and providing feedback to the motivations of voters of Brexit would be important in the determination of the future of globalization (Appadurai, 2005). As far as there is a support of Brexit in regards to sovereignty from the EU, as far as the parties are responsible for the economical price, Brexit would be a success by itself (Welfens, 2017). However, if there were misinformation that would have probably led to the rise of Brexit, the decision would not have an impact in the mitigation of the voters' discontent.

Globalization has been meant to improve the connectivity amongst people as well as the environment for which they are associated with (Appadurai, 2005). Globalization is being driven by trade, migration, and the interaction of human beings from a global perspective. It is through globalization that neoliberalism has risen. Neoliberalism has been a political and economic concept that has led to privatization and liberation (Webster & Brookes, 2017). The formation of the EU led to the free movement of goods and services between nations freely without considering any borders amongst them. This key concept of globalization can be neglected should globalization be enacted (Boudreaux, 2008). The EU, though globalization was meant to break down any barriers that exist between nations through a large-scale regulation of political domains. Additionally, there has also been the formation of trans-border agencies and partnerships amongst public and private members of the Union, which should as well be affected in case the Brexit is successful. Additionally, the Brexit should lead to an effect on the various multinational corporations especially in the second half of the current century.

Globalization has been affected negatively by the present political run (Eriksen, 2014). In this case, instead of national borders being broken down, they are reinforced. The Brexit in its opinion to encourage free movement across borders can lead to a further shift from globalization (Liddle, 2016). Globalization has also been affected by Brexit in that there is a rejection of multiculturalism, rather than its embracement (Eriksen, 2014). There has been the domination of political nationalism, which has presented the idea of nation-states, as presented by demographic and cultural uniformity. However, there are still chances that Brexit would not lead to de-globalization (Liddle, 2016). One of the reasons refers to the public sentiment that regards changing of national identity and political power. Through the Brexit, a wall can be built in Arizona as a model of prevention of free movement of goods within and without the country since there are many experts to the EU (Liddle, 2016 Liddle, 2016). Through the Brexit, it would also be difficult to achieve a movement towards a closed national economy. Additionally, nations would as well erect barriers as there is continued globalization with the advent of technology. The globalized economy has made sure that the various considerations of products are sourced and found from the larger part of the world (Welfens, 2017).

Brexit is yet to complete, and its implementation will let the UK be independent and not a member of the European Union. Its completion would lead to either positive or negative effects on globalization. Brexit and nationalism are concepts that correlate with each other (Liddle, 2016). The concept of nationalism has been used as a domain of explaining the political and social organizations within a country. In regards to globalization, the sociological and economic aspects are put into consideration. Globalization can be seen to affect the global business entity. One of the effects is the creation of new opportunities in developing nations as well as assisting the country in finding its position in the economic circle (Welfens, 2017). Globalization would refer to a world with inequality, which favors a free market as well as the exploitation of resources and people. Concerning exploitation, globalization has led to the exploitation of workers and resources.

The decision to leave the EU was forced by some tenets such as trade and immigration. Other factors include the influx of refugees, stagnation of wages, and failed work prospects. These, as well as other factors that result from porous borders, are the reasons for Brexit (Liddle, 2016). In regards to globalization, there certainly would be a backlash. There is a danger in the expansion of gaps that exist between the common issues that face the community such as poverty and wealth, literacy and illiteracy levels, and age factors. These factors have led to the rise of anti-globalization parties, which are being pushed by the neighboring countries.

Brexit is not meant to impact any cross-national movements but would see a continuation of the path to globalization (Troitino, Kerikmae & Chochia, 2018). Every party involved in the Brexit ought to be also included in support of globalization. In the case where no support is made regarding globalization, the entire plan would be a terrible one. However, with the integration of anti-globalization bodies and policies, the nations would have to adapt to the decision (World Commission on the Social Dimension of Globalization, 2006). For instance, China ought to adhere to the effects even though it has been the main beneficiary of globalization. The nations ought to understand how it can reconfigure the growth engine it has had and place their focus on the internal demands of the country rather than external factors affecting them.

Over the years, there has been a pushback against globalization (Merino, 2010). It all started with the protests seen in Seattle during the World Trade Organization meeting dated December 1999. Its conclusion was in such a way that not everyone accepted freedom positively. The conclusion from the 9/11 attacks led to the realization of other things excluding trade and financial markets, which had gone global. The banks were let to have their supervision by the government during the collapse of the investment bank Lehman Brothers. These happenings connect with the idea of Brexit. Having a protest on an already established economic model of at least three decades would see similar results on the negative side (McGowan, 2018). It is not all problems that Britain has that are linked to its membership with the EU. For instance, there is weak productivity, and this cannot be attributed to the European Commission. There have always been challenges in place even before the Brexit such as the deep-seated failings during their voting in the referendum (McGowan, 2018).

The current economic state of Britain is unbalanced and is an indication of the positive and negative impacts of its trade and investment income. However, culpability can be linked with the EU. The integration of the former communist countries with a global model should have seen Europe as a great region especially in the protection of its citizens concerning the negative impacts created by the financial market. Previously, nation-states were placed and perceived as the guarantors of jobs as well as welfare. As a result of the integration of the countries with the global model, there should be free movement of capital, as well as a bargain for better pay without treating jobs as off-shored.

Through the Brexit, a more integrated Europe could have been seen as the most defensive statute that no other country could provide (Troitino, Kerikmae & Chochia, 2018). For instance, the EU could resist the trans-national capital better than other countries such as Italy, France, and Britain. The EU would lead to the concrete implementation of aspects of modern globalization such as having a single currency, the banking system, as well as the political domain. However, this aspect is not a concern any further since the decision to exit the EU will let Britain be independent and disintegrated with other nations in the EU (Troitino, Kerikmae & Chochia, 2018).

There have been various reasons for the starting of the Brexit. One of the reasons is the failure of Europe to fulfill its allocated duties while at the EU. Globalization has led to more rates of unemployment, poverty and poor welfare states (Merino, 2010). The decision to leave the EU would worsen the situation. For instance, Unemployment around Europe would increase. At the same time, the economy of Italy and Greece would worsen further. In regards to labor, many opportunities would be stripped in case the Brexit is successful.

Another negative effect of the Brexit is that it has caused a backlash, which is evident through the start of populist parties at any ends. There has been an increasing number of voters who have believed that there is no much to offer in regards to the present system (Tudoroiu, 2018). These citizens tend to believe that the positive impact of globalization has only been of benefit to a small population. For instance, the 'larger population' believes that there is inequality in compensating for banker's failures. The freedom of movement of people has been core freedom that underpins the extent of globalization, and populist parties have been hankering after the tight security provided by the state.

Brexit has led to various difficulties for the mainstream parties of Europe. Their involvement in the EU has led to curbing of capital movements including taxation, and there have been no problems with the imposing of tariffs in the prevention of Chinese steel. The critics feel that they are uncomfortable even though the freedom of movement of the people ought to have limits, according to them. The main risk, in this case, is that as soon as the mainstream parties do not attend or provide solutions to the demands of other supporters of their decision, they would make a replacement with other populist parties who could make efficient responses. The labor party of the UK has, therefore, been affected as a result of globalization. For instance, in the UK, Jeremy's Laissez-faire approach would impact immigrants.

Good globalization can better present the values of the nations including oneness, economic opportunities, and refusing to see others as fewer people in the community when they live at a national boundary (Hay & Marsh, 2002). The EU was meant to eliminate these boundaries and let people have better rights and access to free roam. Globalization meant that various baby boomers as well as advancements in technology that the little ones could not have imagined when they were young. Nothing neoliberal can be presented and connected with globalizati...

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