Name Institution Course Instructor Date Globalization Globalization has been a subject of debate for a long time. The proponents of globalization have stated their plausible reasons to support it. Conversely, the opponents of globalization have advanced their perceived fears, which may result from international connectedness…
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He argues that the pace of global competiveness and closeness is swift. The book portrays a scenario where untimely flattening of the opponents of globalization is inevitable. William (2009:340-344) shares his sentiments in his book ’The contemporary world History’. He feels that the forces of fragmentation are too strong to allow globalization to gain a stable footing. Critical analysis of the thoughts of the two writers tempts an individual to take a position. Although William presents steep challenges to globalization, the basis of his arguments and speculation are on uncertainties. The past global trends have shown that, globalization has received a positive attention all over the world. Although some nations may not appear in public to support globalization, researches have shown that it remain a hot subject in their boardroom meetings. This shows that globalization is live and soon the world will be a global village. Thomas explicitly lays out the benefits of globalization. However, he does not overlook the possible challenges that globalization might be faced with. This makes Thomas’s convictions correct, more sensible, and real in the current world. The Dell Theory of Conflict Prevention which Thomas subscribes to affirms that there cannot be disagreement between countries, which share a common interest. He emphasizes that globalization is the sole solution of the most conflicts in the world. In essence, Thomas signifies that the nations that embrace globalization have reaped benefits and not enmity. Globalization is the only safe platform to enrich cultural, economic, technological, and political ties while appreciating diversity. Thomas points out that there are still impediments to globalization. He argues that overcoming anti-global forces must be at the heart of its proponents. Freidman (580-604) highlights some of the issues which include poor education systems, weak economic powers, diseases and bad infrastructure. Compromised education system negatively affects globalization. This is evident in the third world countries where only the privileged in the society acquire quality education and skills. This creates inequality and widens the gap between the haves and the have-nots. It incapacitates societies and they do not harness the positives of globalization. Diseases continue to affect the developing countries. Poor health systems and bad policies pose many challenges to the efforts of different countries. The prominent diseases include malaria, HIV AIDS, Tuberculosis, and polio. These ailments slow down growth at community levels. It constrains their financial powers. Weak purchasing power adversely impinges the entire economic power of individual nation. Thomas acknowledges that infrastructure is critical for countries to realize globalization. Miserable transport and primitive communication system strains the efforts of different regions to globalize. Basic services and goods fail to reach their target destination in good time. This discourages both domestic and foreign investors in any given country. Globalization promises to streamline this sector through sharing of ideas and competent human resources among member countries. This will lead to increase of trade links to an extent far greater than ever before. Moreover, there will be strengthening of the worst performing economies to achieve development. Friedman (580-604) expresses his
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The term globalisation arouses strong emotions among its supporters as well as its opponents, which is evident from the two above-mentioned diametrically opposite statements. While the supporters perceive globalization as equivalent to economic freedom that brings in improved standards of living and greater degrees of transparency, the opponents associate it with exploitation of the developing and underdeveloped economies, cultural homogenisation and widespread destruction of environment (McGrew, 2010).
In the present world where communication technologies and networking has changed tremendously and still changing very fast, forced businesses to change accordingly. The complexity and multidimensionality of the international business environment forced to the development of some frameworks trying to classify its components.
A major example of the impact of globalization is the recent integration n of capital markets throughout the world. Globalization is not a new theory, people before us were quite aware about its existence, but in recent years, globalization has spread at a faster pace and its affects have intensified.
Consumers are able to access an ever-growing basket of goods and services. Countries, companies and individuals are increasingly beginning to take into account what is happening across the world, rather than in only the country in which they are based. In short, globalization is affecting a vast section of the society, whether people realize it or not.
One of the today’s main issues: the North versus the South. Developed Countries against developing countries. We often see this problem as a confrontation between two parties: one which has everything and the other one which wishes to be part of the wealth distribution. One of the driving forces of the struggle is globalization.
Since globalization covers numerous domains, assertion can be justified that economic integration, in the first place, rose from post World War-2 period. Leading factors for this economic internationalization include increased
Goods and services produced in one part of the world are increasingly available in all parts of the world. International travel is more frequent, for business as well as leisure. International communication is commonplace and now as cheap as local communication.
First and foremost what is globalization and what are its impact on the world economy will be talked about. The after-effects and the shortcomings of globalization will be narrated briefly.
Globalization does not merely take place upon country states, or communal self-governing parties inside them, and so, it does not, in any uncomplicated way, inflict economic regulation or neo-liberal strategy schedules on communal-democratic governments (Clift, n.d., p.471).
The 20th-century arrival of mass circulation newspapers and magazines, film, and television further enhanced a growing consciousness of a rapidly shrinking world. Globalization transforms economic system of the world brining new opportunities to less developed countries; it changes cultural and political spheres popularizing democratic values and principles and promulgating western style of life.
Alternatively, globalization refers to the increased interconnection worldwide due to increased cultural exchange and trade (Herzog, 2014). Due to globalization, larger companies have now become multinational corporations. Some of the
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