What can we, therefore, put as the attributes and the key indicators of globalization? In a way, the attributes of globalization tend to be dynamic. The attributes are thus the mobility of persons/workers, capital, information, ideas, goods and services. Key indicators include the existence, the diversity, the volume, in terms of quantity and quality of communication, and transportation. It also includes the interaction among nations and among individuals within the nations and with other nations. An important aspect of the indicators is speed, which in some ways makes for great mobility. Although I will not attempt to do so, it could be possible to measure some or all of the indicators. This will show among other things, the deepening of the …show more content…
Indeed without globalization, the benefits of development finance could not have been possible. Globalization has many other consequences, side effects, by-products, and implications, which some authors (see Bhagwati 2004; Stiglitz 2003; Sodhi 2011; Bishop et al. 2011Bishop et.al. 2011) have discussed. These include aspects relating to, but not limited to economic globalization, as well as to the environment and concern for the degradation of the environment, the issues of exploitation, poverty, social and demographic inequalities, and inequalities in income distribution, all of which, they believe globalization has directly and indirectly led to. Some of the issues attributed to globalization are actually not consequences, from the point of view of cause and effect, but are more by-products of the way globalization has progressed in all its dimensions, (i.e. economic, cultural, interaction among individuals and groups of individual in different countries). The proliferation of organizations in the civil society, especially non-governmental organizations, is one of these by-products. Their intervention in the economies of developing countries is another by-product of globalization. The role which these organizations play in situations around the globe and more so in …show more content…
Such authors as Ouattara, (1997, pp. -Pp 1, 3), Bhagwati, (2004, pp. -Pp 32, 33, 228–-230) and Stiglitz, (2003, pp. -Pp 7, 8, 119) have also discussed the down sides of globalization, some of which can have devastating effects on the lives of individuals, especially in developing countries. Such aspects include price movements of commodities. Movements in international commodity prices can, to some extent, cause havoc with balance of trade of developing countries. They have been the subject of articles and books for a long time; Spencer (1977, pp. —Pp 1–-20) outlined some of the impact of commodity prices on the balance of trade and of payments on developing countries. Even though such movements are part and parcel of international exchange and trade, globalization has given speculators added elements, techniques, and tools in their arsenal, so that they can move their funds from agricultural produce to minerals, to foreign exchange speculation with increased rapidity. These can have adverse effects on the balance of payments of developing countries. Along this line of thinking of devastating effects, Glenny (see Grimes 2008) wrote about globalization and the criminal underworld, showing how organized criminals make use of the attributes of globalization to spread their reach beyond their own national borders. This confirms, as it were, my earlier statement that each author sees
Globalization admittedly has several benefits that the author acknowledges including integrating global business communities and economies, reducing poverty, reducing trade barriers, providing poorer countries with much needed foreign aid, as well as reducing the isolation of developing countries. However, with major meetings of the IMF, the World Bank, and the WTO becoming scenes of conflict and rioting, Stiglitz attempts to explain why globalization has become so
The criminal’s communication is faster and easy when they make the trades. For this reason Globalization is a good tool for making enterprise crimes especially when the criminals do drug trafficking. Because the communication between then is not only faster but also the criminals are able to follow the route of the transaction and the profit they get for the business is receive when they finish the job. Globalization also helps the criminals to improve how they can manage future crimes. This is one of the reason the authorities refer to criminals that happen between countries that becomes transnational not matter what the language and the cultures is different. Because the criminals find the strategies to do what they want, an example of this affirmation it can be seen in the drug traffic between countries like Colombia and
In the book Globalization: A Very Short Introduction by Manfred Steger and the reprint Globalization and the Impact of American Popular Culture Abroad by Carl Guarneri, the point is made how recognized globalization has become and how much it has affected citizens around the world. Some of the debates over the effects of cultural globalization are: the West and its multinational corporations after World War II, what it promotes to the world’s people, the views of consumer capitalism’s effects and the repercussions of the globalization of culture.
During the 1900s, Colombia had a relatively unstable economy, the major contributing factor to this instability being illegal trade. This economic instability affected Colombia and its progress as a country. Many share the belief that Colombia has a declining economy because of the major illegal trafficking that occurs in the country, but other variables are also present, which add to the cause. It is common information that Colombian President Andrés Pastrana believed that certain factors instigated illegal trade, namely globalization. Illegal trade is believed to be Colombia’s fault, but there is also the fact that it is a global industry and would not be spreading as rapidly as it is without globalization. Pastrana believed that globalization can be beneficial, but can also be restricting in as many ways. Drug trafficking, although spurred on by globalization, is still a major dilemma that continued to hurt Colombia’s
As globalization continues to flourish and evolve, this creates further opportunities in which individuals are able to launder money with greater ease, efficiency in profit and sophistication. Through the forms of economic globalization, people may use new forms of travel to their advantage and personal gain. It is widely recognized (Pfaller, A & Lerch, M 2005, Auernheimer, L 2003) that this is becoming a significant challenge in the international sphere. Through globalization, criminals are able to create new means to commit crime for an economic benefit and avoid prosecution through new forms of travel. This allows them to spread transactions across multiple nations around the globe, thus increasing the number of obstacles that need to be overcome for an investigation to be completed (Karofi, U, Mwanza, J). For example, this can be explained through the new forms of money laundering. Money laundering is ‘the process by which one conceals the existence, illegal source, or illegal application of income, and disguises that income to make it appear legitimate’ (President’s Commission on Organised Crime 1984, p. 7). This can be achieved through the process of transporting diamonds or gold or even through wire transfers (Morris-Cotterill, N). The lack of risk that is involved in these contemporary crimes is increasing the appeal for crimes such money laundering to occur. This is due to the fact that criminals know that it will prove to be difficult to investigate and prosecute their activities when it occurs on a transnational basis. This, in turn, gives more individuals the opportunity to commit these crimes with little risk that they will be caught. Furthermore, this targets potential naïve victims into partaking in these forms of c...
Moreover, the author primarily examines globalization in the modern era, examining both the success and failures of globalization after the implementation the following global organizations: the IMF, the World Bank, and the WTO. Like the previous definitions, Stiglitz attributes globalization to world trade; however, he also places special emphasis on the power globalization has on enacting societal change. He accomplishes this by presenting several examples of how globalization has shaped communities around the world, both positively and negatively. Ultimately however, he notes that globalization is inherently neutral- the type of change globalization has on society is a result of the agents that spur it. In context, Stilgitz definition proves to be rather effective as he relates the growing interactions among nations as primarily economic- the diffusion of culture and change to society is a by product of economic interactions. Though the definition is narrow, Stiglitz focuses on intergovernmental organizations that deal primarily with economic affairs. Thus, though the definition does not encompass other aspects of globalization it successfully achieves its
Chandy and Gertz disclose that Southern Asia, Central Asia, and Sub-Saharan Africa also benefitted from the progress. They attribute the source of economic growth to globalization. Poor countries were able to lift themselves from such grim poverty levels through insertion into the global marketplace. They assert that globalization did more in a few short years for the world’s poor than Western governments were able to do in three
Globalization has not only greatly improved, but it has had a positive impact on the United States economy. Globalization has spread American influence all around the world. More markets have been opened up causing more trade and businesses to boost the economy. Globalization gives many companies the opportunity to sell much more than they would have in just one country. This is why when we go to stores we often see product labels with marks or stamps from the country they came from.
According to Jay Albanese organized crime is a continuing criminal enterprise that is rationally working to produce profit through illicit activities based on demand, where its existence is kept through force, threats, and corruption (Albanese 2004). When looking at transnational organized crime, we are looking at crimes that involve crossing national borders and individuals who work within more than one country to complete illicit business endeavors. I argue that political and systemic issues as well as outside influences leave weaker governed countries more exposed to the risks of transnational organized crime. I will be exploring four different areas related to this topic in order to understand why these countries experience an abundance of transnational crime; how it has become available through globalization, whereby the world has become an increasingly smaller place; factors that allow for countries to become more susceptible to criminal activity; the international moral panic that allows for policy control and global influence; and a link between organized crime and terrorism and its use to larger countries. This is an important topic because as the world shrinks our connection to one another grows and the influence one faces may cause repercussions upon all of us one day.
Just imagine waking up in squalor, a once prominent society, now a desolate wasteland. All because foreign interest has raped your land of its natural resources and you seen not a cent in profit. Although, globalization is unifying the worlds developed nations and is bringing commerce to nations that have struggle in past years. True, globalization has many positive effects but do the pros outweigh the cons. In this essay I will discuss Globalization ruining the integrity of many countries and also is forcing many undeveloped nations into a bind, and is causing economic distress on some developed nations. Also, due to economic globalization the nations of the world are diluting their culture, sovereignty, natural resources, safety and political system. My goal is not to change your way of thought, but only to enlighten you of the negatives of global economic expansion.
Globalization is the new notion that has come to rule the world since the nineties of the last century with the end of the cold war. The frontlines of the state with increased reliance on the market economy and renewed belief in the private capital and assets, a process of structural alteration encouraged by the studies and influences of the World Bank and other International organisations have started in many of countries. Also Globalisation has brought in new avenues to developing countries. Greater access to developed country markets and technology transfer hold out promise improved productivity and higher living standard.
Globalization was derived from colonialism to control over previously colonized nations, and the way it did so was through the creation of the World Bank in 1945. Globalization is defined in Steger's book as, "the expansion and intensification of social relations and consciousness across world-time and world-space" (Steger 15). Globalization included numerous aspects but one that had heavily influence countries across the world was the World Bank, previously known as The International Bank for Reconstruction and Development. The World Bank was created during the Bretton Woods Conference, a t...
Globalization, love it or hate it, but you can’t escape it. Globalization may be regarded as beneficial from an economic and business point of view, but however cannot be perceived the ditto when examined from the social sciences and humanities side of it. Globalization can be argued as a tool for economic growth, advancement and prosperity through co-operation between the developed and developing countries. The pro-globalization critics argue that the benefits that globalization brings to developing nations surpasses or outcasts the negative impacts caused by globalization and may even go a step further to state that it is the only source of hope for developing nations to prosper and stand out. However, the real question to be asked is as to what extent are the positives argued upon without taking into account the negative aspects of globalization towards developing countries. Moreover, how many developing countries out of many are exactly benefiting or even prospering from globalization is another question to consider. Therefore, my paper will dispute that indeed growth and advancement provided by globalization to developing countries is beneficial in short-term, but in the long-run, it will only bring upon negative impacts and challenges due to the obstacles involved such as exploitation of labour and resources, higher increase in poverty, and effects of multi-national corporations on local businesses and the economy, and to an extent the effects on the developing country itself.
Globalization is a term that is difficult to define, as it covers many broad topics in the global arena. However, it can typically be attributed to the advancement of economic, social, and cultural interactions among the companies, citizens, organizations, and governments of nations; globalization also focuses on the interactions and integration of countries (The Levin Institute 2012). Many in the Western world promote globalization as a positive concept that allows growth and participation in a global community. Conversely, the negative aspects rarely receive the same level of attention. Globalization appears to be advantageous for the privileged few, but the benefits are unevenly distributed. For example, the three richest people in the world possess assets that exceed the Gross National Product of all of the least developed countries and their 600 million citizens combined (Shawki and D’Amato 2000). Although globalization can provide positive results to some, it can also be a high price to pay for others. Furthermore, for all of those who profit or advance from the actions related to globalization, there are countless others who endure severe adverse effects.
Globalization is a global process that is changing the world. I would also like to discuss what are the benefits and drawbacks of globalization in the world from different perspectives.