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Globalization Spread The Happiness - Essay Example

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“Globalization is a process through which events, decisions and activities in one part of the world can come to have a significant consequence for individuals and communities in quite distant parts of the globe” (Reich, p.5). Globalization is still a controversial concept or…
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Globalization Spread The Happiness
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Download file to see previous pages ame time it should be noted that globalization has caused more problems in America than in any other countries in the form of economic crisis or recession. At the same time heavily populated countries like India, China, Brazil, Russia, Mexico etc have developed a lot after the introduction of globalization. In fact China is the number one exploiter of globalization at present even though it was reluctant in introducing globalization principles in its territories at the beginning. Supporters of globalization are of the view that globalization benefits the world through the promotion of such ideals as human rights, democracy, and freedom and that it enhances the prosperity of the world through free trade, free investment and better technology.  This paper argues that globalization brings happiness in the world and its drawbacks are negligible considering its advantages. Even though there are many reasons for supporting globalization, this paper limits its focus only to the economic, political and cultural benefits of globalization.
Holst (2007) has pointed out that “economic interpretations of globalization cantered around three forms of capital; financial, productive and commercial (Holst). Moreover, Dharam Ghai (1997) has pointed out that “free market and private enterprise were the principal mechanisms for promoting economic activities in the sphere of economic globalization” (Ghai, p.1). Cross cultural business have been increased a lot as a result of globalization. Imports and exports between different countries were also increased because of the liberalized rules implemented in many countries as part of globalization. Earlier, it was difficult for a company to establish a business unit in overseas countries. However, at present, many countries started to liberalize their rules for attracting foreign direct investment because of the late awareness that external capital is necessary to the economic development of a country.
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