The Impact of Globalisation on Production

Authors : Weknow Magwenzi; Jacob Munodawafa; Darmião Cardoso; Agripah Kandiero

Volume/Issue : Volume 8 - 2023, Issue 10 - October

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Globalisation is a major contributory factor to global development, and it is promoted by United Nations (UN) global alliances like the International Labour Organisation (ILO), World Trade Organisation (WTO), strong international relations, worldwide foreign direct investments (FDI) and reliable information technology. Information on different types of globalisation is presented in the literature review of this research work. The types of globalisation include economic globalisation, ecological globalisation, political globalisation, cultural globalisation, financial globalisation, sociological globalisation, technological globalisation and geographical globalisation. Global developments have been noticed arising from globalisation and, developing economies have seen huge benefits with an increase in their gross domestic products (GDPs). A good example is Mozal, SA in Mozambique, an aluminium smelter, which is a joint venture between BHP Billiton with 47.1 %, Mitsubishi Corp with 25 %, Industrial Development Corporation of South Africa with 24 % and the Government of Mozambique with 3.9 % of shares. FDI through Mozal, SA brought a number of benefits including business park development, employment and growth of other companies like small to medium enterprises (SMEs). With gas and oil exploration in Mozambique, global companies like Total are investing in this sector, and this will transform the economy of the country. Gradual elimination of trade barriers contributed to easier capital flows and globalisation of production has flourished. As it is, products can be produced in different locations and distributed across the world. The products may have marks of being manufactured in a foreign country, but their components may come from different countries. Across the globe, people are living and experiencing the effects of globalisation every day. Globalisation of production takes advantage of variations in the cost and quality of factors of production like capital, land and labour.

Keywords : Influence, Globalisation, Production, Game Theory, Competition and Development.


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