Too much has been made of the phenomenon of globalisation in its economic dimensions while recognising the contribution of ICT and the attendant forces of the global economy to the emergence of globalisation. There is a new ethos about the economic dimensions of globalisation that exalts above all other human values or phenomena, indeed even above the basic condition of human beings themselves.

The globalisation of markets and manufacturing has vastly increased international competition. Production is becoming globalised too, as manufacturers around the world put manufacturing facilities where products are produced cheaply. South Africa’s punitive legislation has impacted negatively on South Africa, as manufacturers transfer their manufacturing to India, Indonesia or China (Cronje, du Toit & Motlatla, 2000:59).

It is essential to grasp the different motivating forces that are impelling these developments aside from the purely economic because of globalisation’s multifaceted nature, and also to recognise the different directions from which they are coming. Globalisation can come in the form of multinational firms, international capital flows and world markets. Intrinsic to this form of globalisation is a growing legal and institutional framework within which the regimes of contemporary international trade, finance and investment are being conducted. Another form of globalisation can be in the form of the environmental, women’s and anti-nuclear movements or human rights struggle. The human rights movement has long laid claim to a universalising or a globalising mission.

This is evident in the assertion that the regime of rights and freedoms established through the Universal Declaration of Human Rights and the numerous other instruments that have since been promulgated in the same spirit extend beyond the arena of purely national concern. Globalisation can be brought down from the rarefied and glorified atmosphere of corporate boardrooms to the daily realities of ordinary human beings. It can help them mobilise in resistance against the hegemonising tendencies that globalisation may present.

Representative APR 391%. Average APR for this type of loans is 391%. Let's say you want to borrow $100 for two week. Lender can charge you $15 for borrowing $100 for two weeks. You will need to return $115 to the lender at the end of 2 weeks. The cost of the $100 loan is a $15 finance charge and an annual percentage rate of 391 percent. If you decide to roll over the loan for another two weeks, lender can charge you another $15. If you roll-over the loan three times, the finance charge would climb to $60 to borrow the $100.

Implications of Non-payment: Some lenders in our network may automatically roll over your existing loan for another two weeks if you don't pay back the loan on time. Fees for renewing the loan range from lender to lender. Most of the time these fees equal the fees you paid to get the initial payday loan. We ask lenders in our network to follow legal and ethical collection practices set by industry associations and government agencies. Non-payment of a payday loan might negatively effect your credit history.

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