Globalization in Middle East
Essay Preview: Globalization in Middle East
Report this essay
According to Answers.com the meaning of globalization is growth to a global or worldwide scale. In terms of economics, it means is the branch of social science that deals with production and distribution and consumption of goods and services and also managements. In other hand, the globalization in economy means that it is the integration of national economies into the international economy through trade, foreign direct investment, capital flows, migration, the spread of technology, and military presence.
History of Middle East Country:
The Middle East country was structure between the lies at the juncture of Eurasia and Africa and of the Mediterranean Sea and the Indian Ocean. The community were doing the spiritual center of religions such as Christianity, Islam, Judaism, Manicheanism, and the Bahai Faith. From the history, Middle East has been a major center of world affairs in a strategically, economically, politically, culturally, and religiously sensitive area.
Nowadays, the Middle East country is establish many ethnic groups such as Arabs, Turks, Persians, Jews/Israelis, Kurds, Assyrians (Chaldo-Assyrians), Arameans-Syriacs,Egyptian Copts, Armenians, Azeris, Maltese, Circassians, Greeks, Turcomans, Shabaks, Yazidis, Mandeans, Georgians, Roma, Gagauz, Berbers, Mhallami, and Samaritans.
The Middle East country was being modern after World War I, when was the Ottoman Empire, which was allied with the Central Powers. It was defeated by the British Empire and their allies and partitioned into a number of separate nations, initially under British and French Mandates. During the 20th century, stocks of oil were identified as their new strategic and economic importance. It was begun around 1945 by Saudi Arabia, Iran, Kuwait, Iraq, and the United Arab Emirates that have large quantities of oil. Moreover, Saudi Arabia and Iran have the highest of oil in the world, the international oil cartel OPEC was dominated by Middle East countries.
All nations in the Middle East are maintaining a positive rate growth economies range from being poor to extremely wealthy nations. The poor country such as Gaza and Yemen, whereas the wealthy country such as Qatar, the UAE, and Saudi Arabia. (CIA World Factbook, 2007) In 2008, the largest Middle East economies are Turkey ($ 794,228,000,000), Saudi Arabia ($ 467,601,000,000), and Iran ($ 385,143,000,000) in terms of Nominal GDP. The highest ranking countries of nominal GDP per capita are Qatar ($ 93,204), UAE ($ 55,028), Kuwait ($ 45,920), and Cyprus ($ 32,745). In terms of GDP-PPP, Turkey ($ 1,028,897,000,000), Iran ($ 839,438,000,000), and Saudi Arabia ($ 589,531,000,000) has the largest economy of it. The highest ranking of per capita income (PPP) is Qatar, Kuwait, the UAE, Bahrain, and Cyprus. The lowest ranking is the autonomous Palestinian Authority of Gaza and the West bank. (World banks