Article: Globalization Progress or
Profiteering?
By: Lisa Smith
In the simplest of terms, globalization is the means that allow businesses and trades to cross
the domestic boundaries and establish themselves in other countries too and get connected
with different markets across the world. Supporters of the concept of globalization say that it
helps all the nations to catch up with the growth of other markets and their industrialization.
In the present article, the author has aimed at analyzing the concepts of globalization, its
profitability and its overall impact from three different angles; from the point of view of high
class people, from point of view of middle-class people and from the point of view of low
service-class
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On the other hand the
critics of this concept say that globalization may harms and weakens the sovereignty of the
nation. From the point of view of the elite class, penthouse as it has been referred to in the
article, globalization is very good. It gives them an opportunity to expand in their terms of
businesses and investments. Also, the technological advancements promote their growth. From
the point of view of the middle ground, globalization has both impacts. It can prove to be a
boon as well as a bane. As far as outsourcing may concern, people may gain excessively or may
not earn much. The effects of globalization on this group of people may vary according to the
changing circumstances. From the view of the street i.e. the service class people, globalization
increases the competition between the people. To give an example, the author has discussed
the case of U.S. market. Here, the critics have time and again mentioned the loss of jobs that
occur due to increasing globalization and influence of foreign markets in a country.
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As a future of globalization, it can be said that deviation from the current situation can be very
minimum. The heavy outsourcing from foreign markets especially from U.S. markets have been
continuing since decades and still continue till date. Globalization has also been supported by
the politicians for their personal benefits too. Also, disappearing middle class and increasing
economic disparities are not much of a concern.
As a conclusion, it can be said that the positive impacts of globalization cannot be solely judged
from the benefits that it gives to the higher class people or the CEOs of the companies, in many
cases, the low-wage workers get effected in a negative way mainly because they lack
transferable skills and are not able to keep up with advancement in technologies. Until a better
solution could be thought of, the only possible solution to the problems of low-wage worker is
education, flexibility of skills and jobs and adaptability to the changing industrial atmosphere.
Also, the politicians and the elite workforce and the business leaders while realizing the value
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 politics. Inflation happens to a country, and in Jamaica, chaos was created due to that issue, the people became pugnacious and became rebellious. Economic globalization can bring many good opportunities, but it could also bring some sort of adverse outcomes to a country.
Concentration of wealth. Profits from successful enterprises end up in private, often foreign, hands instead of being available for the common good.
(Bilton et al 1996:5) The process of globalization has certainly had many changing effects to the world we live in; it has also changed the way many factors operate. Globalization is said "to have transformed the structure and scale of human relationships that social, cultural, political, and economic processes now operate at a global scale with a consequent reduction in the significance of other geographical scales. "(The Dictionary of human geography 2004:315) Globalization has had both positive and negative effects on a local, national, international and global level. Globalization often brings benefits at one level which cause negative effects at another, these results and the scale at which they manifest are often uncertain and unpredictable.
It is widely accepted that there are a lot of benefits globalization brought to our life. Firstly, advanced transportation system makes different places of the world closer. Considerable amount of exciting tourists can visit remote villages in the corner of the earth. Secondly, new telecommunication, such as internet and TV, makes people’s common life colorful. Fans in China who are interested in Manchester United can also share their joy with their counterparts in United Kingdom, when the team won a game. Moreover, we can buy the popular products of high quality made in other countries, such as automobiles of Volkswagen and furniture of IKEA. Finally, globalization can lead to cooperation in trade between different countries. Even though globalization can bring so many conveniences to us, we still worry about its severe negative aspects.
... policies. People will continue to suffer in silence because of the world’s greed. So, while we enjoy our cheaply made goods and over consume the planet into demise, we never know of choose not to know the pain that went into the productions of those goods. Globalization may be championed as a gateway to financial growth for all nations, but only certain nations benefit from it. Global trading and integration has a negative effect on undeveloped nations and developed nations in many ways including; political systems, sovereignty, economy, way of life and much more. Earlier in the essay I asked ‘do the pros outweigh the cons when it comes to globalization’ and from my research I don’t see any real benefit. I don’t believe we should eliminate global business, but better the already lacking regulations and probably increase the standard of living equally for the world.
Globalization can briefly be defined as ‘something’ that affects and changes the traditional arrangements of the state system. It is a term that directly implies change and therefore is a continuos process over a long period of time as compared to quickly changing into a wanted or desir...
Globalization encourages worldwide business. Globalization is an efficient process by which all the nations of world will commonly try to set regular universal standards & regulations (both created & recommended) which will encourage business around different nations. Business around nations or elements crosswise over different fringes is called universal business. Economic globalization The expression "globalization" is generally utilized as a part of business rings and matters of trade and profit to depict the expanding internationalization of businesses for merchandise and administrations, the budgetary framework, companies and commercial ventures, innovation, and rivalry. In the globalized economy, partitions and national points of confinement have liberally diminished with the departure of tangles to market access.
Globalization is a new concept that was introduced to the world after the fall of the communist regime. Globalization has to its identity social, economic, and political reforms, .however the globalization that we are about to discuss is the term that combines the past socio-economic and political reforms and cross with them to the world where their are no boundaries, restrictions, and immobilization what Mittelman describes as ? cross-border flows of capital, knowledge, and consumer goods ? (Mittelman 1). For the world to become a one or a single entity it has to pass through a process of economic, and technological integration. The consequence of this unification is the aim of this research, positive and negative, although the negative aspects will be the dominating part.
Over the last couple of years, the world has become increasingly globalized. After the cold war, all parts of the world were attracted to the process of globalization. The effect of globalization is uneven in different parts of the world and globalization suggests a world full of persistent cultural interaction and exchange, contacts and connection, mixture and movement. Different people view globalization in different ways. Some people feel it has done more good than harm, while others believe it has done more harm than good. This essay will give a deep intuitive understanding of globalization, world systems, and how globalization has affected society, culture, economics, and politics.
Globalization on a broader scale, is an integration act, involving cultural, mental, political as well as economic aspects of a person, among countries. It is mostly limited to, economic integration, associated with movement of people, exchange of technology and information, trade as well as financial flows. . This is practice is clearly miles ahead, as demonstrated by the ever increasing capital flows in the world economy as well as the level of importance, the world economy has. As a result of globalization, tremendous pressure is on the nations to keep up with its demands and this has had a lot of consequences. Some pundits will tell you that these effects are only economic based,
Globalization’s history is extremely diversified and began during the beginning of civilization. Now we live in a world that is constantly evolving, demanding people to use resources in locations that are very difficult to obtain certain resources. This could make it completely impossible to operate in these specific parts of the world. However, globalization allows people across the world to acquire much needed resources. Globalization creates the opportunity for businesses to take advantage and exploit the ability to take part of their business to a different country. Nevertheless, globalization is part of today’s society and will be involved in virtually all situations.
Globalization is the connection of different parts of the world. Globalization results in the expansion of international, cultural, economic, and political activities. As people, ideas, knowledge, and goods move easily around the globe, the experiences of people around the world become more similar. (“Definition of Globalization“, n.d., ¶ 1)
Globalization is associated with bringing together world economies and cultures. Globalization is a controvertible conception. This allows powerful corporation change local enterprises and in the future make the gaps big between, rich people and poor people. The benefits of an international market to integrated where labour, ideas, capital and goods can be free and to promote the economic development all of the levels in the society. Globalization is a process to interact and integrate among companies, people and the governments of other nations. Globalization is process which international organization, corporations, individuals and communities has become more interconnected with politics, cultures and the earths environment. “It is characterized
Many negative and positive thoughts have been given to the process of globalization. The proponents of globalization rather see the benefits of globalization, while the opponents have based their opinions on the disadvantages of globalization.
Globalization is one of the main aspects in the 21st century. Globalization has brought the world closer; all the things that are happening nowadays are recognized globally even if they happened locally (Buckley). According to Nayef Al-Rodhan GCSP (Geneva Centre for Security Policy) globalization is not a single word or concept. It contains many other concepts within itself. Globalization is composed of different concepts like incorporation regarding the economics, transmitting information or understandings, stability within beliefs, and other concepts (Al-Rodhan p.3). This paper deals with the definition of Globalization, the advantages and disadvantages of globalization, and based on these information the views that to which extend the globalization is beneficial for majority of the world's population. The concept of globalization has changed the whole shape of the world. It has both its positive and negative impacts on people's life. However, by taking both the advantages and disadvantages into consideration we can find that to a large extend globalization is beneficial for majority of the world's population. With the help of globalization the works that were difficult in past is getting easier in today's environment. People are getting closer to each other, which is a product of globalization. Moreover, the knowledge and informations are being circulated in very good way which is a very good sign for having a good and prosperous life.