One of the main processes taking place around the world is globalization. New technologies promote the development of cross-border trade, migration, and investment, as a result, the world reaches a new stage of economic development. (Since 1950, for example, the volume of world trade has increased by 20 times, and from just 1997 to 19990 flows of foreign investment nearly doubled, from $468 billion to $827 billion) http://www.globalization101.org/what-is-globalization/Kazakhstan is one of those countries that, after gaining independence, were able to take full advantage of the opportunities of globalization. The process had a huge impact on the economic sphere. The study of this trend will help to assess the main factors affecting the economy of Kazakhstan, as well as the prospects for the development of the process. That is why the purpose of my research will be to assess the impact of globalization on the economy of Kazakhstan.
Thanks to the statistics of experts, it is possible to trace the trend of exports and imports of raw materials and products.(The World Bank estimates that exports of natural resources account for seventy percent of Kazakhstan’s total exports in 2007. Now, the world is paying attention to Kazakhstan as one of the most important oil producers outside the Middle East) http://www.globalization101.org/what-kazakhstan-thinks-about-globalization-3/However, do not forget that promoting the process of globalization can lead to a number of problems.
Now the economy of Kazakhstan is very unstable and vulnerable to sharp fluctuations. Therefore, there arises the need to set tasks for stabilizing the system, and only after that to bring the country’s economy to the world level.I chose this topic, because I was interested, how globalization influence on the economy of Kazakhstan, what are people think about globalization and its influence. I want to find out the experts opinions about some future of Kazakh economy.
Also, I hope that this project improves my knowledge about a level of economy and can help in my future job, which will connect with this sphere.