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Globalization - Essay Example

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Name: Course: Professor: Date: Globalization Globalization is used to describe the spread of production, communication and technological connectivity across the globe. It involves the interweaving of cultural and economic activities. Globalization can also be defined as a collective effort by the International Monetary Fund, the World Bank and other economic organizations in their effort to come up with a free market for goods and services…
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Download file to see previous pages In essence, globalization is designed in a way that is potentially damaging to developing nations. In fact it is structured in a manner that lifts wealth and knowledge from poor economies to economically and politically stable economies. In regards to economic and cultural growth it is evident that significant growth over a number of has been noticed. It is important to note that the contemporary situation is fundamental to the earlier events. This is accelerated by the speed, complexity and magnitude of communication networks that are involved. Due to this, the volume of trade, size of interaction and risks associated with globalization has virtually gone high giving globalization unimagined force. In fact, within the accelerated interconnection of world economies, deep seated political challenges have been experienced by poor nations pushing them to more overdependence on foreign aid from giant economies such as the United States of America. From such economies, poor nations tend rely for capital as well as technical assistance. Further, there has been transference in control of economy from the nation or state towards multinational corporations according to Naomi Klein (Klein 56). In addition to this shift, there has been a rise and globalization of brands. This is an indication that large corporations are not only interested in developing and marketing brands among different countries but also within their producing nations. It is important to note that multinational corporations such as the Coca Cola Company and Nike Inc. among others are fabricated companies under control of a few individuals. Leading economists argue that globalization aims at diffusing philosophies, practices and expertise among cooperating states. They consider such practices as something beyond internationalization or universalization. Moreover, it is neither modernization nor westernization but a global intensification of social relationships linking detached localities in a manner that what takes place within is subject to control by events taking place several kilometers from that location. In this way, we are made to comprehend layout and localness in different way other than the normal understanding. It also involves postponement of dissimilar relations based on ideologies, economic state, military power and political alignment across nations in the world. It is vital to note that after the Second World War, globalization was a subject of diffusion of ideologies such as liberalism and socialism. This founded capitalism manner of production as well as distant range of military striking among a few strong states. In the early decades, reform movements were focused on fighting global injustices as opposed to the contemporary movements who focus is amassment of wealth for the benefit of a few individuals. For example, within the last few decades, a new brand of economy emerged around the globe that can be likened to a new brand of capitalism. It is characterized by efficiency and keenness which is a function of knowledge creation and information processing. These firms and their territories are linked together in production, management and distribution networks whose key activities are global. The movement is a non-Zapatista because it seems to be fighting injustices for a few nations. Therefore, ...Download file to see next pagesRead More
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