It has been completely understood and discussed by theorists, researchers, practitioners, educators etc. Regardless of the popularity given to this concept a number of areas are still left to be explored about globalization. The…
Download file to see previous pages...
addition a crucial debate is continuously rising on weighing the positive and negative impacts of globalization and exploring the people who are directly or indirectly influenced by the changes brought in by this concept.
Globalization is a comprehensive and broad topic and covers a huge list of important issues including economic, social, political, cultural, religious and moral etc. The definition of globalization is also defined in the light of all these perspectives. As it is defined by James Rosenau, a political scientist, as as "a label that is presently in vogue to account for peoples, activities, norms, ideas, goods, services, and currencies that are decreasingly confined to a particular geographic space and its local and established practices" (1997, p.360).
Most of the researchers bordered their research on the economic impacts of globalization. It is undoubtedly clear that globalization has impacted the overall economic situation of the current world. However, the social, political and other areas also require attention as globalization has affected the policies, education, culture and overall social structure of the states. The economic aspects of globalization are not limited to its effects on microenvironment but it has affected markets on a macro level. The microeconomic effects refer to the technological advancements and the impact at individual firm levels, whereas, the macroeconomic effects involve the collaborative analysis of markets for business purposes (Oman, 1994).
The list of positive aspects of globalization includes the excess availability of external finance. This excess amount of finance is helpful especially for the developing countries. The excess availability of excess finance from external sources is evidenced by the IMF, Direction of Trade Statistics Yearbook and World Bank, Global Development Finance, 1999. For instance the increase in capital flows is observed in the East Asia Pacific from 15.8 in 1980 to 36.3 1997.
...Download file to see next pagesRead More
Cite this document
(“The pros and cons of Globalization Essay Example | Topics and Well Written Essays - 3500 words”, n.d.)
Retrieved from https://studentshare.org/miscellaneous/1561516-the-pros-and-cons-of-globalization
(The Pros and Cons of Globalization Essay Example | Topics and Well Written Essays - 3500 Words)
“The Pros and Cons of Globalization Essay Example | Topics and Well Written Essays - 3500 Words”, n.d. https://studentshare.org/miscellaneous/1561516-the-pros-and-cons-of-globalization.
Is globalization beneficial for Canada? According to Thomas Friedman of New York Times, “globalization is the next great foreign policy debate. Yet as the debate expands, it gets more confusing”(Rodrik, p.19).When it appeared initially in the horizon, globalization created lot of concerns in the minds of many countries.
Indeed even in the face of obvious benefits, the 1999 Seattle, 2000 Prague, 2011 Quebec, 2002 Washington, and the growing number of protests against the World Trade Organization, the World Bank, the International Monetary Fund’s policies are but stark reminders of missing links.
People have started considering themselves not only citizens of their countries but global citizens, impacted by the global happenings. The internet and the economy have played the leading role in bringing people closer (“Wise Geek” par. 1). Globalization has removed the distances of time.
With this phenomenon, trade in various countries has been liberalized and businesses as well as investment funds moved across domestic markets to the international markets ("Investopedia").
According to economists, this term has come into common usage since the 1980s in light of the technological advances that have facilitated the convenience and speed of conducting international transactions in terms of trade and financial flows ("Globalization: Threat or Opportunity" 2000).
Globalization believes that human being should have greater access to vast number of goods ranging from cheap labour in third world countries to bigger overseas investments.
The two decades of 180s and 1990s the liberalization swept the world economy. The 1980s democratization changed the landscape of the business and trade and industry, connecting every country in the world through globalization.
According to the paper, globalization is viewed by most economists, as a necessary and unavoidable key to future world economic development. Its opponents have denounced the process as it seems to increase the current inequalities that exist within and between nations, threatens the employment and living standards of individuals.
The author of the essay comments on the advantages and disadvantages of globalization. Namely, it is stated that the pro-globalization forces view the structural arrangement that corresponds to power distribution in the three concentric circles. According to Emanuel Wallerstein, these power circles are comprised of core, semi-periphery, and periphery.
he technologies that further globalization and its benefits, prescribes ways to success as well as the issues of those who are against globalization and those brought up by pro-globalization. The relationship of globalization is strongly linked to international businesses
national flow of resources, such as states, non-governmental organizations (NGOs), corporations as well as labor unions, have been playing significant roles in moderating or pacing up the globalization trends (Shani, 2003). As these institutions have been operating in the
9 Pages(2250 words)Essay
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Essay on topic The pros and cons of Globalization for FREE!