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Globalization as a Catalyst for Inaquality, Volatility and Division - Essay Example

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GLOBALIZATION AS A CATALYST FOR INEQUALITY, VOLATILITY AND DIVISION Name Instructor Institution Institution Introduction Globalization and whether it is beneficial ort detrimental is a controversial issue that has been debated and will certainly continue to be debated for a long time to come…
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Globalization as a Catalyst for Inaquality, Volatility and Division
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"Globalization as a Catalyst for Inaquality, Volatility and Division"

Download file to see previous pages Globalization is on the other hand blamed for the increase in the rich poor gap, environmental pollution and the threat to respect for human rights. The interconnectedness of the many countries of the world is multifaceted and multifarious. Some of the problems of globalization derive from economics while others do not. It is important to note though that whatever the cause of globalization, it has an impact on the reality of human life across the globe. Culture Clash Increasing globalization has led to the clash of many cultures across the globe which has proved to be detrimental in some instances. Trade agreements and international corporations are known to lead to a degradation of the environment, and diminish state sovereignty. The more developed countries have a culture of continuing growth which they wrongly assume the other countries have whereas they do not (Buckman, 2004:32). Many of the developing countries of the world contain an abundance of labor whereas the countries of the West have technological knowhow. An increase in globalization leads to multinationals spreading to developing countries. Since there is a large population in developing countries, demand for work is high which lead to increasing low wages and worker welfare. Globalization has led to the invention of technological inventions such as the internet and TV. These technological inventions are capable of eroding or destroying the culture of people. Since most of these technological inventions such as TV and radio are more oriented to Western lifestyles and culture, they would increase the instance of Western values and culture being adopted by other people around the globe at the expense of the erosion of their own local cultures. While popular opinion may not rate culture and identity very highly in terms of influencing economic conditions, a deeper study of culture shows the reverse is actually true. Globalization has led to the spread of Western economic systems wherein paid employment is becoming the norm all over the world. Some cultures especially in the developing world depended upon subsistence farming for their economic sustenance (Velmeyer, 2004: 76-87). Globalization has made many able bodied people to leave the farms and go to town to look for paid employment which has resulted to increasing cases of food shortages as a result of lack of Agricultural labor. Trade Liberalization Globalization has led to increase trade linearization and the removing of trade barriers. While trade linearization has been hailed as a good thing by economic experts, it presents some challenges which have resulted to feuds in the international community. Trade liberalization has been seen by many in the developing world as increasing poverty and inequality in these countries rather than helping them attain economic independence and wealth. This has been compounded by the International bodies such as IMF and Worlds Bank. Most of the international bodies such as World Bank and the WTO have been accused of only making rules that favor the most developed countries. A good example is the refusal by the developed rich countries of Europe and the USA to offer incentives to developing countries through preferential trade agreements preferring to give aid instead. International bodies have also been accused of interfering in the internal affairs of countries in which they offer financial aid. For instance the World Bank in 1990 froze aid to Kenya until the Kenya ...Download file to see next pagesRead More
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