StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Why Does Globalization Generate Winners and Losers - Essay Example

Cite this document
Summary
"Why Does Globalization Generate Winners and Losers" paper notes that globalization is based on the premise that is meant to promote free trade as well as liberalize investment among countries. It seems that the rich nations end up benefiting more than their partners in the less developed world.  …
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER95.6% of users find it useful
Why Does Globalization Generate Winners and Losers
Read Text Preview

Extract of sample "Why Does Globalization Generate Winners and Losers"

The concept of globalization can be attributed to the liberalization of trade where the barriers which used to exist among nations were removed and different countries can now engage in free trade. However, globalization has been criticized by some sections because it is responsible for generating winners and losers. Against this background, this essay seeks to critically analyze the extent to which globalization can be said to be causing more harm than good to the other countries. The essay starts by defining the concept and goes on to analyze the factors that make globalization unfavorable to the other countries.      Basically, globalization can be defined as the economic activity taking place across the national boundaries (Buckman 2004). Globalization is a result of the internationalization of financial markets which aims to promote free trade as well as a direct investment among member states across the world. The advent of globalization has resulted in the liberalization of trade where the geographical barriers that used to block this kind of trade have been removed. This has resulted in people from different geographical regions becoming more connected. There are key players that drive globalization and these include the multinational corporations, World Trade Organisation (WTO), World Bank and the International Monetary Fund (IMF) (Rodrick 2001).  Governments in different countries also play a pivotal role with regards to the concept of globalization as they are the overall authority which would be responsible for the regulation of the operations of the multinational companies. The WTO also plays a pivotal role in that it facilitates the platform through which international trade agreements are negotiated and enforced among member states. On the other hand, the World Bank and the IMF are major actors in that they provide with the needed financial assistance in the form of loans as well as technical assistance to the governments or multinational corporations that wish to invest in other different countries. However, whilst the concept of globalization is noble in that it liberalized trade among nations, it can be noted that it is not the case the rich and powerful nations are in most cases on top of the situation where they are the ones who are seen carrying investment to lesser developed countries.  This emanates from the view that the large financial institutions that should sponsor the activities of globalization such as the World Bank and IMF are controlled by the powerful and developed western nations. These developed nations have all the financial assistance they need at their disposal and they are the ones seen investing in poor and less developed countries whereas the less developed countries are not able to invest in developed countries. Thus, the flow of the wealth is often seen as one-sided and there is no equality in terms of sharing of the wealth (Bond 2002). The wealth is seen flowing from poor countries back to the developed countries hence these nations will be winners while the poor countries will be losers. The developed countries aim at extracting wealth, especially in rich mineral resources areas while the local people of the host country will have little to show for the investment carried out at their doorstep by the foreigners. The investors often get a huge chunk of the revenue generated from the investment carried in other countries. The local people are losers in this case as they suffer the fate of being used as cheap labor whereby they will be given very little pay that does not correspond with the amount of work they will be doing. Globalization has often been criticized for the unfair redistribution of wealth that has been obtained in poor countries. The less developed countries in most cases do not have equal powers compared to their counterparts from the developed nations. For example, many African countries are very rich in terms of the natural resources they possess but unfortunately, most of these countries are very poor and are dependent on aid from the rich nations. Instead of equitably distributing wealth, the developed countries want to take a leading role in providing aid to the poor countries so as to maintain the gap that exists between the two. On the other hand, globalization can be said to bring more harm than good especially in developing countries whereby it can be seen that powerful nations seek to impose their cultural values as superior over the others. As a result, there has been a sharp decline in the cultural values of people from the developing world. Rodrick (2001) refers to this situation as the Americanisation of the world culture. The majority of local cultures are facing extinction as a result of acculturation. Local people are exposed to new cultural values from the dominant nations that would not be compatible with their own culture which causes the disintegration of the social and moral fabric. It ought to be taken into consideration that each society has got its own cultural values and they ought to be protected. Every person has got a culture and all the people across the globe do have values that are shaped by their culture. In some cases, developed countries like the US have a tendency of setting the standards of democracy and the political framework in weaker nations where they will be operating. This amounts to sponsoring conflict and there is more political instability especially in Africa where America has influence over the system of governance in the countries it has the interest, in particular, the rich oil nations. Over and above, it can be noted that globalization is based on the premise that is meant to promote free trade as well as liberalize investment among different countries. However, it seems that the rich and powerful nations end up benefiting more than their trading partners in the less developed world. The developing nations are also taking advantage of this dispensation to assert their values over the weaker nations. From this argument, it can be noted that globalization plays a big role in creating winners and losers.   References Bond P.(2002) Fanon’s Warning: A civil reader on the new partnership for Africa’s Development, Africa World Press. Buckman G (2004), Globalisation: Tame it or scrap it, Zed Books, New York. Isaak R.A. (2005), How the rich get richer and the poor get left further behind: The globalisation gap, Prentice Hall. Rodrick A. (2001), Take it Personally: How Globalisation affects you and powerful ways to challenge it , HarperCollins Publishers, UK. Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(Why does globalisation generate winners and losers Essay - 1, n.d.)
Why does globalisation generate winners and losers Essay - 1. https://studentshare.org/miscellaneous/1748679-why-does-globalisation-generate-winners-and-losers
(Why Does Globalisation Generate Winners and Losers Essay - 1)
Why Does Globalisation Generate Winners and Losers Essay - 1. https://studentshare.org/miscellaneous/1748679-why-does-globalisation-generate-winners-and-losers.
“Why Does Globalisation Generate Winners and Losers Essay - 1”. https://studentshare.org/miscellaneous/1748679-why-does-globalisation-generate-winners-and-losers.
  • Cited: 0 times

CHECK THESE SAMPLES OF Why Does Globalization Generate Winners and Losers

Why does globalisation generate winners and losers

However, globalisation has been criticised by some sections because it is responsible for generating winners and losers.... The wealth is seen flowing from poor countries back to the developed countries hence these nations will be winners while the poor countries will be losers.... The local people are losers in this case as they suffer the fate of being used as cheap labour whereby they will be given very little pay that does not correspond with the amount of work they will be doing....
3 Pages (750 words) Essay

The Effects of Globilisation

Globalization is The Process According to the expert analysis globalization is the procedure by which businesses generate value by leveraging their resources and ability across borders, as well as includes the organization of cross-border manufacturing and marketing strategies* Globalization is the rising integration of economies and societies around the globe.... If we analysed the term "globalization" has acquired substantial affecting force.... According to the global experts there are so many questions concerning globalization like when did it commence, who supports, who alongside it or does technology effects globalization We will scrutinize these questions and attempt to find the greatest answers....
11 Pages (2750 words) Essay

Emerging market not mergers and acquisition

The transformation of the present international economy can be observed in the dimensions of financial, social, educational and political sectors in an intense and ineffaceable way.... Never before, in the history of economic system, the pace of structural change had become more… The new economy is composed of a series of interactive forces that comprise trade liberalisation and globalisation1....
17 Pages (4250 words) Essay

The Effects of Globilization

The author of this essay "The Effects of globalization" casts light on globalization effects upon technology and organization.... If we analyzed the term "globalization" has acquired substantial affecting force.... nbsp; Let's take a quick tour of globalization is a broadly used and hotly discussed subject which has numerous definitions.... However, globalization is too complex to be described with a single definition....
11 Pages (2750 words) Essay

Globalization: A Force behind the Worlds Crises

The "globalization: A Force Behind the World's Crises" paper states that with capitalist mindsets driving the disproportionate allocation of resources globally, revenue, and interest seem to be the trending terms, yet sinking the disadvantaged by taking away even the very little in their custody.... hellip; Perhaps the most far-reaching effect of globalization on culture is the commercialization of unique cultural identities around the world.... 3), Falk (1999) argues that globalization is largely a fashioned economic phenomenon with inbuilt, inescapable, benign socio-cultural consequences....
10 Pages (2500 words) Coursework

Globalization and Poverty: Winners and Losers

Moreover, it is almost impossible to identify winners and losers of globalization process as individuals of the same region are affected in a different manner.... The discussion also suggests that globalization does not lead to the clear identification of winners.... This paper will discuss the short as well as long-term impacts of globalization, reveal the details of its process itself and its relations to the issue of poverty.... hellip; globalization is a much-argued topic in present times....
12 Pages (3000 words) Research Paper

Is Globalisation Producing More Losers Than Winners

The author of the "Is Globalisation Producing More losers Than Winners" paper examines the situation concerning globalization producing more winners or losers and tries to understand what globalization entails and what nations hope to gain from it to become winners.... nbsp; At the same time, we also have to examine policies that can lead to the poor application of globalization that creates losers.... In essence, it can be shown that globalization itself does very little to create losers or winners since it is the complete set of policies used by a country that can lead it to be a successor lead it towards failure....
14 Pages (3500 words) Case Study

Globalization: North-South Political, Social and Economic Relationship

The purpose of this discussion "globalization: North-South Political, Social and Economic Relationship" is to provide the reader with a more informed understanding of the implications on trade liberation and poverty reduction in the southern states and the global crisis in the developing nations.... hellip; The globalization concept is a dominant affair across the world.... However, there is more to the context in the globalization indicators than the financial barriers that are linked to increased migration, trade, and investment....
13 Pages (3250 words) Coursework
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us