Benefits and Challenges of Globalization in Malaysia

Benefits and Challenges of Globalization in Malaysia 1.0 Introduction In this assignment, I need to discuss the benefits and challenges of globalization in Malaysia with relevant real life example. In addition to that, I also need to critically examine with real life examples any three pros and cons of FDI in Malaysia 2.0 The benefits and challenges of globalization in Malaysia 2.1 Benefits of globalization in Malaysia Travel and tourism According to Olivia Ruggles-Brise (2012), the World Travel and Tourism (WTTC) had invested in economic impact research, which assesses that the Travel & Tourism industry had contribution to GDP and jobs. Real life example: Based on the report that proposed by United Nations World Tourism Organization (UNWTO) in 2010. Malaysia is the 9th highest international tourist arrivals which had reach up to 24.6 million visitors to the country, increase 3.9% at the end of 2009 performance. Global marketing Pars Articles (2012) had proposed, due to globalization, Malaysia has relied to a large level on gl obal capital and trade flows to push its economy, which the computers and electronics are the main successful items. Real Life example: According to the Government website â€Å"Malaysia External Trade Development Corporation† 2013 report. Malaysia had total trade grew of 1.6% in March 2013 which reach the value of RM114.94 billion compared with Match 2012. Health improvements According to Pim Martens(2010), based on globalization the health improvements had experienced in develop countries due to social and environmental changes, it more recent health improvement in developing countries which can broadly related to health improvements knowledge transfer and socio-cultural determinants. Real Life example: According to Christina Tan (2012), Datuk Seri Liow Tiong Lai represent The Health Ministry said that they will continue improve the new Kluang Hospital by providing more high technology equipment and upgrade the services of medical staff and specialists with the aim of i mprove the health care system in the country and reduce the infectious diseases. Allow higher education According to Anantha Raj A. (2011), In Malaysia, a lot of impressive change to the function and character of higher education caused by the effect of globalization and the development of knowledge based economy. The main trend is the reorganization and reform of private higher education in Malaysia to make it more global competitiveness. Real life example : According to Anantha Raj A. (2011), the increasing Asian countries with large populations such as China, Malaysia and Indonesia have been moving towards by the policy on globalization of higher education. The demand is predicted to rising from 1.8 million to 8.4 million international students in 2000. (Referred to appendix Table 1 shows the share of tertiary foreign students in OECD countries. 2.2 Challenges of globalization in Malaysia International trade : replica risk According to Dr. Jean-Paul Rodrigue (2013), there are no nation is self-sufficient in global economy, therefore international trade occur to sell what a country have and acquire what it lacks. However, it involved replica risk during international trade. Real life example: According to Yee Xiang Yun (2012), the price of a branded handbag (Burberry) is RM2,647 at Johor Premium Outlets (JPO) yet at Johor Bharu Sentral had sell product which is similar that sold for only RM69.90. Those replica products look real and it has their own ID card that same with the real one.