logo
user
  • Sign in
  • Sign up

The Impact of Globalization on Global Development

4 Pages

0 Downloads

Words: 1204

Date added: 18-12-17


rated 4.4/5 based on 20 customer reviews.

Type:

Level: high-school

Category:

open document save to my library

Globalization

Globalization is one of the broadest concepts with a high degree in diversity and different dimension. It is a process of interaction and integration among all people from all background and has been driven by information and technology. The past present and probably the future view globalization as the growth in the sizes of al he systems that is the social, political and economic systems together with the increase in the complexity of interconnectedness of the societal links. The totality of societal changes gives an overview of globalization processes in that it combines all aspects of life being crowned by technological advancement. Different researchers agree that the contemporary world is characterized by new and intensive processes of globalization with a high level of interconnectedness among the political, economic and social processes. Having been a concept that attracts a lot of analysists, globalization has different impacts that are either agreed upon or disagreed, arguing that globalization is bad while others see it as a positive aspect in life that has lifted countries and societies permanently. In particular, this essay discusses if globalization is good or bad.

To begin with, globalization has impacted a lot in the society through its historical transformation. Industrialization is one of the greatest's tested transformation that globalization has brought. The core drive of globalization is technology which has given a normal, increasing amount of widening and deepening connection in the cultural, economic, political events that are driven by new technology worldwide. The developing counties, for example, have received high levels of growth through direct foreign investments which have seen a free market and industrial as well as growth I economic rate. Capitalism is also one of the aspects that globalization has expended its importance in different continents and states and here competition has been embraced increasing the growth rate and performance of various industries (Rodrik, Dani pg79). Historically this has the increasing technology has therefore as an aspect of globalization been one of the positive impacts that have been receiving together with the effects of advanced information and technology. Information and sharing of communication through the internet have also enhanced a global village primarily in the business environment and social, cultural interconnectedness. Individual and corporate societies can easily share information that improves the performance of their organizations and firms through social networking. Thus, I believe that all can buy the idea that globalization is inevitable and its impacts are positive.

Another good thing that globalization has brought in is the global demand and achievement of democracy and participation. Before the 19th century, there was global colonialization and high rate of slavery and civil war. This was followed by the global spread of social movements, citizen groups and Non-governmental organization that capacitated the citizens and the society of their democratic rights. As such, there was increased participation, and movements spread information where everyone participated leading to a global democratic society. Through media, writings and the internet, an individual can easily share their different opinions concerning the political and democratically happening of the current society (Brown pg2). Such organization like the UN among others have high influence in their member countries, and the integration has enhanced an increased political stability especially in countries that have been characterized by prolonged civil war.

Globalization has promoted diversity, understanding and tolerance. Here different cultures and people can appreciate the diversity of other cultures (Scherer pg3). Globalization has enhanced and encouraged sharing of ideas lifestyles and experiences. Today we can understand the practices of different cultures and borrow them as well. Globalization promotes diversity, in that technology, internet and holding of events, today is easy where different cultural practices are held, and this creates unity tolerance and communities can easily embrace each other. Also, globalization promotes awareness. Raising of awareness in all parts of the world is no longer expensive. There are national media stations, social media as well as the internet where people from all walks of life can easily access information.

Moreover, in value and volume, trade has sustainably grown over the past fifty years. The global growth rate has increased by 7.4 percent which has been indicated as a positive growth rate in trade. This has been received in the areas of trade based on political and economic areas. Foreign Direct Investment has rapidly been growing with the industrialized countries registering a higher rate. Such countries as Japan, European Union and the United States accounts for the highest global inward foreign globally investment. Bilateral and multilateral relationships geared by globalization have seen the reduction of tariffs on manufactured goods and expanding the production of the good in different counties different from the home countries (Rodrik, Dani pg195). Technological advancements also have lowered the communication costs and the shipping costs which is an advantage to nations and thus reporting improved global trade and economy.

Despite the positive impacts that globalization has brought in hand, it can also be termed as bad. This is because the world is increasingly becoming unequal as the distribution of opportunities has become unequal due to technological changes. The gap in income is earning n the society is increasingly widening in that the rich become richer while the poor continue becoming poor. This is associated with such factors as a foreign direct investment which increases profit and capital t those countries that own the means of production and have the capacity to invest and transfer their production and manufacturing industries to other countries without application of tariffs. Employment is also a challenge that has been experienced resulting from the high rate of globalization. Technology has reduced the amount of human labor that is needed to apply in the labor markets which therefore widen the gap of unemployment (Blommaert pg20).

Technology through the introduction of machines and computers laid off employees in industries where most individuals relied on for their livelihood. Machine and computers require only one individual to operate them and also analyze data in cases of companies, and this has highly affected the society negatively especially the youths. Globalization as such has been argued as a bad thing in the society.

On a finishing note, globalization is inevitable in the contemporary world, and many arguments are for and against globalization. Globalization has helped highlight the world's most pressing needs and issues together with reinforcing the importance of global sustainable development. Its benefits as outlined in the essay outweigh its negative aspects and in my opinion globalization one of the aspects that nations should be proud of as it benefited all nations worldwide. Despite globalization, it has also caused challenges and nations, therefore, should work towards combating them.

Work cited

Brown, Garrett Wallace. ""Globalization is what we make of it: Contemporary globalization theory and the future construction of global interconnection."" Political studies review 6.1 (2008): 42-53. Retrieved n 11/9/2017 from http://journals.sagepub.com/doi/abs/10.1111/j.1478-9299.2007.00144.

Blommaert, Jan. The sociolinguistics of globalization. Cambridge University Press, 2010.

Rodrik, Dani. One economics, many recipes: globalization, institutions, and economic growth. Princeton University Press, 2008.

Scherer, Andreas Georg, Guido Palazzo, and Dirk Matten. ""Introduction to the special issue: Globalization as a challenge for business responsibilities."" Business Ethics Quarterly 19.3 (2009): 327-347. Retrieved on 11/19/2017 from https://www.cambridge.org/core/journals/business-ethics-quarterly/article/introduction-to-the-special-issue-globalization-as-a-challenge-for-business-responsibilities/AC817A40B9AE17D284708EAE624C9432

Read full document← View the full, formatted essay now!
Is it not the essay you were looking for?Get a custom essay exampleAny topic, any type available
banner
x
We use cookies to give you the best experience possible. By continuing we'll assume you're on board with our cookie policy. That's Fine