Economic Globazation-Source Analysis

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Recommended: Impacts of globalization on the development of nations

Our global world is being more connected as we become integrated politically, socially and even economically. Due to the Bretton woods agreement, different countries have been economically dependent on each other in fear for war to erupt. From then on different organizations and policies tied more countries into being economic globalized. This economic globalization had then given us many opportunities in trades and more access to natural resources in other countries. Unfortunately, there are some negative effects that are brought to less developed country. Overall, many people believe that economic globalization does a great work on accumulating our economy and our quality of life. Source one is an excerpt from the book called “Transnational Corporations: Knitting the world together”. This book was published in 2004 and the author is Keith Suter, a futurist. He believes that transnational corporations are now the main global economic force as they eroded the national market. He deems that due to transnational companies the world is now involved in one global market. He views transnational companies as a definite source of economic globalization. Transnational companies did not only bring jobs to less developed country but it also stimulated the economy of that country giving them motivation. Transnational companies had given less developed country a better quality of life and well-being. There are some critics about transnational companies but transnational company had given us a way to make our world more globally connected as what Keith Suter would agree upon. The second source is a cartoon. It shows two elephants so induced to themselves they do not notice the little ants getting crushed, as the caption say: “When elephants m... ... middle of paper ... ...ade even more miserable and the workers have their rights violated. Both sources describes the elite nations taking advantages of the less developed countries, it may not be the country but the worker in it. Workers overseas get lower wages compared to the workers working in the more developed countries. Exploited, there’s nothing that the workers can do about it since they aren’t allowed to create unions to protect themselves. Countries are now even more in debt as some people believe that the IMF and the World Bank take advantage of them controlling not only their economy but even their politic. Inflation happens to a country, and in Jamaica, chaos was created due to that issue, the people become pugnacious and became rebellious. Economic globalization can bring many good opportunities but it could also bring some sort of different adverse outcomes to a country.

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