Globalization and Its Critics - Term Paper Example

Critically discuss the view that anti-globalization arguments seriously undervalue the benefits that globalization has delivered for all countries 02084 Name: Institution: Course: Date: Introduction Globalization is the integration of the world economies, ideas, and cultures resulting from liberalization of markets, efficient flow of information, and integration of economies. This has led to increased interdependence of economies and cultures. Although there is no clear definition of this concept, it has been used by those who oppose it to water down its benefits (Steger 2003). Globalization is associated with easy credit and rising leverage, as money moves easily across boundaries. Benefits of Globalization Globalization also allows for homogeneity and consistency in the implementation and application of laws between countries. This stimulates an even platform for all countries in their endeavours to import or export products to or from other countries. The policy allows sharing of trade and imports or exports without extra cost, i.e., there is reduced cost in terms of trading items between countries (George & Wilding 2002). This policy of globalization enhances relationship and understanding amongst countries globally. In addition, it has created an opportunity for the formation of formal and informal international institution such as World Bank, International Monetary Fund, etc. These have played a significant role in ensuring that there is equitable distribution of resources across the world. Therefore, developed countries are now taken into consideration in the global platform. This has played reduced poverty levels in the world and improved the employment rates. A very good example is the Asia-Pacific Economic Cooperation and the European Union. These two represent good examples of free trade and the path towards globalization. Currently, the world has experienced a lot of transformation as a result of globalization. The communication infrastructure has improved tremendously. Some of the remarkable changes in communication sector are the entry of internet and social media in the world. In addition, there is a great development of telecommunication sector in the world. People are now able to communicate with others who are located in different parts of the world. This factor has had a great transformation in the business sector. Entry of internet in the world has open up a platform for business to interact and market its products at very low costs (Germain 2000). The businesses are now able to get feedback from their clients an aspect that is enabling them to produce goods with features that are demanded in the market. This has played a crucial role in reducing loses that were incurred due to changes in consumption behaviours. Through social media which has been enabled by the entry of internet in the market, businesses have been able to advertise their products to the target market an aspect that has led to growth of businesses (Went 2000). These benefits trickle down to the country’s economies. For instance, multinational companies have outsourced their operations to developing countries such as China. Through taxation these countries have benefited immensely on taxes remitted by these corporations. Globalization has increased the level of interaction in the world. People in different parts of the world are now able to interact as a result of improved infrastructure and transport systems. This aspect has led to erosion of local cultures as people are adopting cultures from other parts of the world. For instance, local cultures had defined family roles with women given a role of taking care of the family. Increased globalization has seen a huge change in this culture. Currently, women are venturing into employment and political sector (Vaidya 2006). This is having a huge impact on the growth of the economy as research indicates that women are currently participating in the growth and development of modern economies (Boudreaux 2008). Also some ill-cultures which upheld women battering are being eradicated as more people are becoming enlightening. This is being replaced with universal human rights that agitate for gender equality and treatment of minority groups with dignity by the rest of the society. Improved communication infrastructure has made it possible for people in different parts of the worlds to share information with other people in the world. This has contributed largely to introduction of e-learning. This form of education has enabled a large number of employed people to get access to education and further their studies. In addition, it has enabled people to access high quality education irrespective of their physical education. This has played a very crucial role in improving the literacy levels in the world. In addition, countries have benefitted from the movement of people across the people. Initially, people were static. However, with globalization, people are able to move easily across the borders. Therefore, countries are able to benefit through foreign direct investments (Vaidya 2006). The money collected is being used to improve the current infrastructure and support various institutions of governance. According to libertarians, globalization is significant in raising the global economies (Weinstein 2005). Through the creation of trade blocks and existence of World Trade organization and other bodies that regulate the interactions between countries, the economies will benefit from a world-wide market for both the companies and consumers. This will improve the living standards of the people in various parts of the world. Anti-globalization arguments Those who are against globalization states that the improvement in communication infrastructure has led to increased crime rate e.g. cybercrime. This has affected online business as more people are in fear of attacks. In addition, online theft has increased as the number of fraudsters targeting e-commerce has increased tremendously. They argue that countries are losing a lot of money being spent on fighting cyber-crime and other terrorist related activities. They state that some of these vices were not in existence when countries were dealing with their own challenges (Ritzer 2010). Increased level of globalization which is resulting from integration of economies is affecting the market conditions an aspect that is affecting the volatility of national currencies (Ervin & Smith 2008). The unification of currencies for example by European countries is exposing other countries’ currencies and weakening them. This has been experienced in euro crisis and during great depression in United States (Boudreaux 2008). In addition, other economies such as Spain and Greece are suffering as a result of globalization. In addition, interdependence of economies has given some currencies an upper hand in the market. This has played a role in weaken other currencies in other countries. Globalization is also leading to negative cultural values in different countries. Due to increased exchange of information, many young people are being exposed to western cultures; an aspect is changing their behaviors (Vaidya 2006). This has seen majority of these young people being indulged in drug abuse and early sex. This has seen the number of unwanted pregnancies and HIV/Aids infections increased (Bhagwati 2004). In addition, exchanged of information have made some youth to engage in crime as they try to look for money to sustain their new adopted cultures. The cosmopolitan areas are experiencing a culture that is heighted by disorder and disjuncture. As cultural forms and contents continue to become subject to earth-scalping, consumers are undergoing rapid changes in terms of need, identity and ideology. Markets have become subject to intense political, economic and social regulation (Macmillan Jones 2010). Consumption patterns tend to have considerations that address foreign and local expectations. Fast food industry has been known to introduce institutional formulae that cut across cultural locations. McDonald’s is present in different markets. However, the fast-food chain undergoes transformation on what it offered to meet the expectation of the local market. Some studies indicate that the rise of global consumer culture does not necessary indicate that consumers shall have uniform tastes and preferences (Ray 2007). Global brands are used to set standards of quality and service delivery across the world. The rising purchasing power of consumers in most cosmopolitan area has pushed for increased purchases on related goods. However, the move is perceived to be a status symbol (Baldwin & Winters 2007). Multinationals represent quality in many markets across the world. They are also known to offer competitive prices. Studies show that consumer’s across the world look forward to a global cosmopolitanism. This means that global brands are likely to capitalize of this theory to urge different consumers in cosmopolitan areas to join the cultural bandwagon. The marketing strategies of multinationals and global brands are to develop global myths that are supposed to link individual independence to modernity and self-actualization (Marković 2012). The Coca-Cola brand is known to hide the American identity. The company attempts to look local and patriotic to appeal to the domestic market. The cosmopolitan companies’ well-being greatly depends on the global companies. Conclusion The anti-globalization movement feels that globalization has major negative impacts on the world at large. They associate it with global warming, terrorism, cyber-related crimes, and other challenges that are affecting the world today. However, globalization has played a significant role in enhancing equity and promoting democracy in the world. In addition, it has enhanced the level of governance in the world. Therefore, the benefits being accrued from globalization surpasses the few challenges that come with it. Therefore, the world needs to work towards looking for the solutions to few challenges, an aspect that would play a significant role in enabling the world to attain sustainable development. References Baldwin, R. E., & Winters, L. A. 2007. Challenges to Globalization: Analyzing the Economics. Chicago: University of Chicago Press. Bhagwati, J. N. 2004. In defense of globalization. New York: Oxford University Press. Boudreaux, D. J. 2008. Globalization. Westport, CT: Greenwood Press. Ervin, J., & Smith, Z. A. 2008. Globalization: A reference handbook. Santa Barbara, CA: ABC-CLIO. George, V., & Wilding, P. 2002. Globalization and human welfare. Houndmills, Basingstoke: Palgrave. Germain, R. D. 2000. Globalization and Its Critics: Perspectives from Political Economy. London: Palgrave Macmillan Jones, A. 2010. Globalization: Key thinkers. Cambridge, UK: Polity. Marković, M. R. 2012. Impact of globalization on organizational culture, behavior and gender role. Charlotte: Information Age Pub. Ray, L. J. 2007. Globalization and everyday life. London: Routledge. Ritzer, G. 2010. Globalization: A basic text. Malden, MA: Wiley-Blackwell. Steger, M. B. 2003. Globalization: A very short introduction. Oxford: Oxford University Press. Vaidya, A. 2006. Globalization: Encyclopedia of trade, labor and politics. Santa Barbara, CA: ABC-CLIO. Weinstein, M. M. 2005. Globalization: Whats new. New York: Columbia University Press. Went, R. 2000. Globalization: Neoliberal challenge, radical responses. London: Pluto Press with the International Institute for Research and Education (IIRE. Read More