Globalization as understood and explained by corporations - Essay Example

Compare and contrast globalization 1. Compare and contrast globalization as understood and explained by corporations and other supporters on the political right with globalization as understood by anti-globalization opponents and critics on the political left. Globalization is defined as a global or universal phenomenon of political, economic, cultural and technological exchanges that come up as a result of contemporary communication, legal infrastructure and political willingness to open links across borders to enable international finance and trade. In general terms, it is a term that stands for the close ties between people and states of the world culturally, economically and politically. On the other hand, antiglobolization is a term used to refer to the critics of globalization in ideological aspects. They argue that globalization is a concept invented to favor the elite. In their views factors such as global migration from one country to another have led to increased security lapses. They have also attributed globalization to environmental degradation which has resulted to the sprouting of slums in developing states. According to globalization school of thought critics, globalization has resulted to uneven distribution of the wealthy which in turn has led to selective economic booms globally which is the main cause of informal settlements. To counter One another’s assertions in regard to the merits and demerits of globalization, both the critics and the proponents have fronted several arguments in relation to the economic, political and social aspects of globalization. Aspects of the economy that are majorly associated with globalization include investment, trade, and migration. This enables traders to easily access goods and even services in a more broad way than it used to be in the past years. Proponents of globalization argue that these new and expanded global opportunities boosts the global economy as different kinds of exchanges taking place between states encourages positive global competition thus simultaneous global economic growth. On the other hand, critics have argued that free trade posses danger to domestic industries. In addition, the concept of globalization has led to the defragmentation of the environment and job loss. They assert that by countries accepting to get into foreign and regional financial schemes, they automatically lose their financial sovereignty and in turn embraces foreign policies may be contrary to the unique needs of its citizens. The other view is that multinational corporations may acquire excessive power in a particular country which may in return compromise the needs of the citizens in general. Proponents perceive that, globalization has played a key role especially in political sphere an argument which has received major backing from globalization nationalists. For example, they have a uniting factor in the view that International institutions such as World Trade Organization have positively influenced political ties among member states. Dividing the two sides in the middle is the issue and the role of technology in globalization. Proponents have identified with the remarkable positive contributions predisposed by technology such as faster access to information and more jobs created such us the online jobs. On the flip side, critics have expressed deep reservations on the security lapses that technology has exposed most countries to as a result of technology .They have also expressed concerns on global moral decadence that has been wide spread as a result of globalization through technology. 2. What explains the very different effects that globalization and world economic recession have had on U.S. households as compared to the effects that globalization and world economic recession have had on individual European households? Currently, America is facing serious economic challenges and possibly the worst recession of all times. Though recession hit almost all parts of the world, the United States is yet to dust itself of from the effects of its economic challenges. European states such as Finland and pars of Asia are gradually coming up as the capitalist’s titans. To highlight Chanda’s assertion, Americas economic woos has been attributed to dwindling education system and political lack of political will among the existing political extrimists.He has also attributed this kind of economic eventuality to worn out infrastructure. Mandelson fronts the argument that it is the duty of the government to strike a balance between social protection and competition. This point contradicts the United States approach which makes it be more affected by economic recession and also be a victim of globalization. This scenario is necessitated by the fact that the United States government ahs put much concentration on competition and neglected social protection compared to other European states such as Germany, Finland and Britain.Mandelson also echoes earlier that Chanda highlighted on political consensus and call it collective action. In the united States conservatives and Democrats are all pulling in different directions a factor which encourages uncontrolled desire to acquire resources and maximize profits instead of pulling together to come up with a collective action towards globalization challenges and economic recession. The United States has also not been exonerated from the consequences of unchecked globalization. Cases of human trafficking are still on the rise just the same way hard drugs trade is still rampant in Mexico and arm shipment prevalent in Russia.Mandelson asserts that globalization has made former capitalistic power houses such as the United states to lose in capitalism while countries such as china have steadily risen up to take the places of the likes of America. Indiana is cited as one of the best examples losing greatly in capitalism. Unemployment and the biting recession have made China benefit from transportation of jobs from America. This in return affects domestic jobs in America which translates to decline in wages. This aspect considered again increases the problem of recession to America as a result of globalization. Conservatives in America fight government policies that can regulate globalization oparations.Mende asserts that they continue to associate with regulations that are lagging behind technologically. Any attempts to introduce regulations such as the Consumer Protection agency is highly opposed by the conservatives. Contrary to other countries such as Britain and Germany that control market through established market regulations, the United States conservatives suppress such moves and advocate for a free non regulated market. They belief that the market should regulate itself a factor which has also led to the united states economic set back in recent years. 3. What is the greatest positive consequence of globalization? What is the greatest negative consequence of globalization? How in your view can the effects of globalization in a particular like the economy, security, trade, commerce, crime, etc. be better managed? Though characterized by intense criticisms, globalization has some positive aspects which, if explored, can be beneficial to the entire states of the world. For example, international corporations among States towards a common objective such as the establishment of the International Criminal Court. If the objectives of the court such as the proposed sustainable plan to manage resources found in the environment such as clean air are embraced, most of environmental challenges would be overcome through collective effort. According to Yaleglobal centre, globalization is the day to day occurrence in most boardrooms where most of the jobs emanate from the boardroom itself.Globolization has empowered countries such as china Korea and Japan to display exemplary performance in capitalism an attribute that was mostly associated to America, Britain and Germany .On the contrary, globalization has led to some negative occurrences too and this is what resulted to antiglobilization movement. Open market systems have greatly contributed to social evils such as drug trade, human trafficking and shipments of arms in various states. On the same note, globalization has intensified competition in the global arena which has resulted to unease and worldwide competition there by threatening global security. Security issues and sovereignty of states have also been compromised as a result of globalization. This is because it is very difficult to come up with global regulations that every country is willing to obey in order to foster security. From personal opinion, effects of globalization, if they are to be confronted, require political will than any other input. The states that make up continents and the entire world should focus on the foundations of globalization challenges and how the can be surmounted. For example, in economic aspect, states need to satisfy its domestic needs first before embracing foreign policies that may conflict with the interest of its citizens. In terms of global security, every country should make an effort to protect its borders and adjust migration regulations to be more security focused. Crimes such as human trafficking and drug trade from one country to another requires adequate corporation among affected countries if the vice is to be overcome. Lastly, the course of vices mainly emerges from economic challenges such as unemployment. Governments of respective states should immediately intervene to address the challenges faced by its citizens. They should create viable opportunities that offer fair competitive atmosphere for all the citizens. The positive aspects of globalization should also be strengthened to foster trust and co existence among the different states of the world. In conclusion, globalization is not disadvantageous in totality .Critiques of globalization should also come up with relevant solutions to address the challenges since it is an inevitable eventuality. Bibliography Barber, Benjamin. McWorld vs. Jihad. New York: Oxford University Press. Mancur, Oslon. Collective Action. New York: Kindle Books, 1965. Ostrom,Vincent. Theory without practice is fantasy, but practice without theory is blind. Bloomington: Indiana University Press, n,d. Smith, Adam. The Wealth of Nations. New York: CreateSpace, 2011. Read More