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Globalization and International Trade - Case Study Example

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This paper "Globalization and International Trade" discusses whether international trade is socially beneficial or not cannot be definitively stated, since different conclusions suggest themselves when the trade is examined from different perspectives…
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Globalization and International Trade
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Download file to see previous pages  According to Curran and Park, the increased networking due to globalization makes it “a process that is increasing international dialogue, empowering minorities and building progressive solidarity.” (Curran and Park, 2000:10).

In the countries of eastern Europe where deregulation and the introduction of capitalistic modes of private enterprise through the introduction of free trade have eroded the traditional socialistic framework that has existed in these countries. (Richards and French, 1996: 41). According to Thomas Friedman, globalization is the “inexorable integration of markets, nation-states, and technologies…..the spread of free-market capitalism to virtually every country in the world.” (Friedman, 2000: 7-8). Waters views it as a “social process” in which the limitations imposed by geography are receding (Waters, 1995:3). He sees a social transformation taking place, whereby the economic and class inequalities that existed between countries and created material and power exchanges are now steadily being replaced by relationships that are based upon common symbols and values, shared tastes and preferences – a cultural transformation of social life. (Waters 1995:124). In reference to international trade facilitated by globalization and the opening up of borders, Mittelman refers to globalization as a historical transformation - “a political response to the expansion of market power” resulting in a transformation “in the economy, of livelihoods and modes of existence” (Mittelman, 2000: 6) and McMichael corroborates this view, seeing the process of global integration taking place on the basis of “market rule on a global scale”(McMichael, 2000:149). Friedman (2000) has highlighted some of the advantages of globalization with previous inequities of economic status and class generated during the industrial era of modernism yielding to a dissolution of class and economic distinctions through the free flow of information and consumerism and opening up of trade boundaries. However, the question that must be considered is whether international trade which is facilitated by globalization is also beneficial from a social point of view? ...Download file to see next pages Read More
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