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Recommended: Effects of globalization on the environment
Globalization promises a lot for the future of the world, however the same sections it’s suppose to benefit, it seems to have a reverse affect. It is understood that with every decision there is an opportunity cost, but is that decision worth making if it worsens the very thing it is suppose to benefit? The example provided above about America and the reverse affects of outsourcing is a perfect example of the paradox that globalization presents
Jamaica & Globalization
Jamaica is a great case study to use to show how globalization—specifically economic globalization—negatively affects developing countries. Jamaica, with hesitation opened its doors to the foreign market, to help its debt crisis, and with much help from the IMF and multinational corporations, their local and national economies were destroyed, their debt increased, they became self-reliant on foreign aid and business, social conditions worsened and the country was left destitute, with no way to overcome its problems.
After watching the movie “Life and Debt” in class, my perception of globalization was tweaked. How could a process that promised much good for the world, and has so far, delivered on such, too contradict itself? The movie exposed the truth about Jamaica’s economic and political situations, which suffered after WWII and the 1973 world convulsion; and later under the abusive hand of globalization accompanied by the lack of help from allies and the IMF. The oil embargo of 1973, by OPEC—which served to target the U.S and their foreign policy in the Middle East, specifically their alliance with Israel—had negative implications for the global oil markets. Oil prices soared, affecting many countries and devastating many others, like developing country Jama...
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...d Social Science Online. Center for Promoting Ideas. Web. 25 Mar. 2014.
Gruenwald, Oskar. "The Globalization Paradox." Journal of Interdisciplinary Studies 20 (2008): 1-20. Social Sciences Full Text. Web. 27 Mar. 2014.
Jones, Shirley J., and Sandra A. Austin. "Globalization and Africa." Globalization, Social Justice, and the Helping Professions. Albany: State U of New York, 2011. 119-29. Print.
Life and Debt. Dir. Michael Manley, Bob Marley, Stephanie Black, and Jamaica Kincaid. Perf. Michael Manley, Horst Kohler. Tuff Gong Pictures, 2009. DVD.
Robinson, William I. "Latin America in the New Global Capitalism." NACLA 1 June 2012: 13-18. Social Sciences Full Text. Web. 27 Mar. 2014.
Thorbecke, Erik, and Machiko Nissanke. "The Impact of Globalization on the Poor in Latin America." Economía 9.1 (2009): 153-86. Social Sciences Full Text. Web. 27 Mar. 2014.
Mignolo, W. D. (2005). The Idea of Latin America (pp. 1-94). Malden, MA: Blackwell Publishing.
Mignolo, W. D. (2005). The Idea of Latin America (pp. 1-94). Malden, MA: Blackwell Publishing.
The political power has had enormous affect to the Latin American economy. Most of the countries in the Latin America remained colonies for over a long period of time; therefore, they were controlled by the Europeans power. These colonies never thought of development of the Latin American countries, rather all wealth from the colonies was taken out to the home country. This situation is similar to other colonized continents such as Asia and Africa. Almost every colonized country in the world is still in the process of development. These countries were never benefited economically from the colonizers. Therefore, the historic imperialism is still harming countries in the Latin America as well as they are still underdeveloped. According to Marxist theory “The colonies were used as places to invest surplus capital and sell goods from the colonizing countries and as sources of cheap raw materials and cheap labor.”(P165) Therefore, the investors will always get high benefits from their investment; however, the raw materials will get low prices for it. Hence, still Latin American countries face various problems due to the excessive use of natural resources and due to late from the Europeans
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.
Latin America is a rich land with poor people because the leaders of countries have failed to recognize how to effectively create a functioning independent nation. The last few chapters of the book focus on economic development of Latin American countries. The strategies for economic development include import-substitution industrialization, the socialist alternative, and
...a of Latin America: The Age of Globalization 3 (2010). Modern World History Online. Web. 11 May 2014.
The Globalization Reader. 2011. Fourth Edition. Frank J. Lechner and John Boli, eds. Malden MA: Blackwell Publishing.
There is still a lot of poverty in Latin America today, one main reason being because of the large population. A United States’ citizen’s income is 7 times the income of a Latin American. The global economic relationships include the U.S. and Latin America. The trade relations between the United States and Latin America is greater than any other countries. “The reality is a dictatorship of one group over the other, always for the benefit of the developed capitalist countries” (Galeano, 237).
When the term “Globalization” is discussed, most academics, scholars, professionals and intellectuals attempt to define and interpret it in a summarized fashion. My main concern with this approach is that one cannot and should not define a process that altered decades of history and continues to, in less than 30 words. Global Shift is a book with remarkable insight. Peter Dicken rather than attempting to define the commonly misused word, explains Globalization in a clear and logical fashion, which interconnects numerous views. Dicken takes full advantage of his position to write and identify the imperative changes of political, economic, social, and technological dimensions of globalization.
The documentary Life and Debt portrays a true example of the impact economic globalization can have on a developing country. When most Americans think about Jamaica, we think about the beautiful beaches, warm weather, and friendly people that make it a fabulous vacation spot. This movie shows the place in a different light, by showing a pressuring problem of debt. The everyday survival of many Jamaicans is based on the economic decisions of the United States and other powerful foreign countries.
Sunkel, Osvaldo. National Development Policy and External Dependence in Latin America. In: The Journal of Development Studies, Vol. 6, no. 1, October 1969.
After the cold war, word ‘globalization’ was commonly used at a time of unprecedented interconnectedness when advanced nations experienced a ruthless development by exploiting energy resources and stressing culture forms in developing countries. To identify the definition of ‘globalization’, it is significant to clarify its appearance as well as implication.
Globalization results in several grievous consequences in developing countries. First of all, As Buckley has written (1998), tourism causes the traditional culture hard to live and ultimately lost their identities. For instance, Prague, which is the most popular tourist attraction in Czech Republic, witnesses the city has reversed from the old age of communism to commercialism nowadays which is of more American value. In addition, Buckley also declared (1998) that global business activity can also cause negative effects on developing countries in different aspects. Environmentally, more and more factories invested by foreign corporations have already resulted in air pollution and deterioration of ecological environment in some areas in China. Economically, global business activity causes a result that the gap between rich and poor countries is widened rapidly, because power and wealth are gradually concentrated in rich countries through global trade (Buckley, 1998).
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’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.