The Impact Of Globalization In Germany

1116 Words5 Pages
Nowadays people can communicate easily. They can share their ideas, their cultures even with people who are not in their countries. They can trade, transporting products around the world in just a few days. This is a big economy where everything related to each other. This is globalization. Globalization is defined as the transfer or easy flow of goods, services and capital from one country to another. Globalization according to some authors has been accompanied by an increasing rate in inequality in terms of income distribution, and this has happened both in the developed and the developing nations. The data on growth and income inequality seem to contradict the optimism of the proponents of globalization. By conceiving of globalization in…show more content…
One of the developed countries is Germany. Germany is one of the most highly developed countries after USA, Japan, and China. The German economy focuses on industrially produced goods and services. In particular German mechanical engineering products, vehicles, and chemicals are highly valued internationally. Around one euro in four is earned from exports and more than every fifth job depends directly or indirectly on foreign trade. (Peter Hintereder and Martin Orth – 2013). Germany is one of the most competitive economies because of the globalization! The global earnings of corporate Germany have soared over the past half-decade, generating investment, creating employment and boosting the income of millions of German…show more content…
As well as this, Germany has higher, advance technology in engineering and industrial production and this factor can help Germany to have better economy when globalization is happening. Furthermore, Germany is one of the best exporters of the world market and these exports can lead Germany to be a big competitor in the mark economy. Due to globalization, the degree of trade openness of many countries has increased significantly (as measured by total exports and imports of goods and services as a ratio of GDP). In the German case, the relevant figure amounts to roughly 75% in 2008, compared with just over 60% in 1990. (Peter Hintereder and Martin Orth – 2013). Regarding to studies, Germany is Europe’s largest economy, accounting for roughly a quarter of European GDP. It is the world’s fourth largest manufacturing producer and the fourth largest producer of automobiles. It is the world’s third largest commercial services exporter; the third most important source of foreign directs investment (FDI); is third in global patents, and boasts the third most developed financial sector. As well, Globalization helped Germany in terms of investment. They are now the third global source of FDI. Also they are the first investor in China. Globalization also had some disadvantages for Germany. For instance, in terms of capital, German

More about The Impact Of Globalization In Germany

Open Document