A borderless world has resulted in an improved global economy Essay

A borderless world has resulted in an improved global economy - Essay Example To that extent, the world may be seen as borderless since ideas and information pass from country to the next (Fung and Fung, 2007). Besides, there have been many improvements in the global economy, which came about because of establishing a borderless world. Such concept of a borderless world may also be seen through the prism of free ports. Goods and services flow freely through the porous borders and labour can be sourced from any corner of the world. Global financial institutions have facilitated millions of transactions over the years. The once huge gap between developed and developing countries is quite narrow today. Conducting business is increasingly becoming global as mobility, technology and revenue opportunities are witnessed in emerging markets hence tempting firms to expand their operations into these markets to reach new consumers. Despite the recorded economic challenges of the world, going borderless could offer a new prosperity avenue. World trade is projected to rise by 86% in the coming 15 years as the demand for traded goods increase in global markets (Fung & Fung, 2007). A borderless world has presented immense investment and commerce opportunities. Businesses can succeed in the borderless world with commitment and right focus. New technology enables regulatory best practices globally. As emerging markets advance their technological infrastructure, they become revenue opportunity markets. The excellent talent pool available in global markets is another critical driver of globalization thanks to a borderless world. In addition, business regulations, permits and tax compliance have improved tremendously. The borderless world has brought more positive than negative effects to UAE economy. Firstly, creating free border is responsible for improved foreign investment. A survey conducted in the year 2005 revealed that the inflow into UAE of foreign direct investment achieved a