Pros and Cons of Globalization - Essay Example

Globalization Roll No: Teacher: 16th December 2008 Globalization Globalization can be defined as a phenomenon that circulates around the concept of the world in form of a globe. Globalization has converted the world from divided pieces into a whole globe. With the help of globalization, there is a feeling of connectedness (Steger 2003). It appears that all the people of the world are connected to each other through the word of globalization but the concept of globalization also informs about many disadvantageousness that has come up as a result of globalization. The whole world does not consider the concept of globalization as a positive concept. There are many pros and cons of globalization that are very significant in terms of proper knowledge about the concept of the word globalization. It is quite clear that with the concept of globalization, the world has shrunk. We can access to people far away from us because of this concept. There are computers, internet and websites that link people to each other and can be considered as supporting the concept of globalization. Globalization has helped to spread ideas. We can share our ideas not in one region or to people of one region but to different people of different regions. This can be considered as an advantage of globalization as people from the globe can access each other within no time and can share their views. Because of globalization, the living standard of people is improved. Again this is an advantage of globalization. Because of intercommunication between people of different lands, the living standards of life have become better (Steger 2003). People can communicate about their standard of living to other people due to which, there can be attention towards development in other lands and people can be diverted to move towards technological development and better standards of lives. In addition, because of globalization, the companies, industries and manufacturers are no more restricted to one land or country, they can provide their products all over the world due to which, living standard has a boost. The globalization process is focused on the inflation of the country. All the countries of the world are involved in a race to generate money and to make better the living standards of their people (Bhagwati 2004). The increasing rate of inflation informs about the progress of a country and the country becomes well off day by day. Globalization takes the concept of financial success to the doors of the people of the world. Some countries are able to be successful with the concept of globalization out of which, China is one while on the other hand, many countries are unable to enjoy the benefits offered by globalization. The growth of China indicates that China has well managed the concept of globalization. China enjoys a global market and supplies its products all over the world with the help of free trade. The concept of free trade is also attached to the concept of globalization. With free trade, the economies of the world are allowed to prosper better than ever. China has taken positive use of the benefits offered by the concept of globalization. China has found the right way to balance globalization with its economy and many other countries are unable to reach the position of China. The Chinese government has taken consideration that with the changing world, there should be changes in China as well while other countries have not identified the need to change. China has also made use of free trade to give advancement and success to its industry by identifying the needs of various different societies. In addition, the country has a growing economy because of the efforts done by the Chinese people along with their government. China has developed strong relations with many countries of the world that are able to support and promote the products of China all over the world. Due to the concept of globalization, many poor countries are helped by rich countries in terms of financial support. There has been development of private industries for the benefit of the residents of a poor country. With globalization, there was much awareness of the problems faced by poor countries of the world (Steger 2003). Because of enhanced communication and linkage of people with one another, there is much and much access to information related to the development of a country. With globalization, the think tanks of rich countries can also support poor countries by accommodating them with accurate and authentic knowledge and plans related to development and success in various industries. Globalization is seen as a most advantageous feature by the industrialists, companies’ management and manufacturers because with the concept of globalization, the industries and companies got a chance for enhancement, expansion and betterment of the industries and companies. With the concept of globalization, the companies and industries get a global access due to which, they were able to earn as much as was not possible before (Bhagwati 2004). With globalization, the companies, organization and industries are no more restricted to one land, region or nation, they can have global access to the customers and consumers and they can produce not for one community or nation but for people belonging to multiple cultures. The businesses of the world were able to expand and prosper because of the concept of globalization. There is development of websites for online selling of products due to which, people from all over the world can access products globally. Online websites have made the business more easily and in hand (Bhagwati 2004). The consumers from all over the world can get products and services online and through the fastest mode of servicing. Due to globalization, the countries are able to get more and more profits on the basis of this concept and companies, industries, manufacturers, organizations and businesses are thankful to the concept of globalization because it has facilitated them with success and growing profits and financial status. Businesses are operating now not as belonging to one country or region but on worldwide basis. Along with the advantageousness of the concept of globalization, there are also many disadvantageous features of the concept. The poor countries of the world are blackmailed because of the concept of globalization. The richer countries of the world implemented various trade conditions on poor countries (Chossudovsky 2003). These conditions were not of negligible kind but they were quite troublesome because poorer countries of the world already face a falling economy and because of the implementations imposed by richer countries, the poorer countries were abused and were unable to come to a developed status. It is seen that globalization has affected rich countries to become richer and poor countries to become poorer. Poor countries were not facilitated by the concept of globalization because of their lack of power and control (Chossudovsky 2003). The concept of globalization is enjoyed by those countries only that have power and control. The rich countries have taken cheaper labor from poor countries in order to gain more profit and revenue. The people belonging to poor nations are not facilitated with enough accommodating facilities as are offered to the people of rich countries. There was no opening up of market for poor countries due to which, the poor countries were left behind in the race of economy and financial success offered by globalization (Stiglitz 2002). Due to not offering of markets for poor countries, the poor countries were not able to introduce their products, brands and production to the rich countries due to which, they were unable to make their status better as compared to before. Due to the concept of globalization, a democratic deficit was created because the countries were no more autonomous but under control of the super powers. Each and every step that was to be taken was needed to be accepted by the super powers and in case of their rejection, there was no autonomy for the states to take their own actions according to their needs. Globalization offered unequal attitudes towards the people of the world. Everyone is not considered equal and not everyone is treated the same way. There have been much better and accommodating facilities for people belonging to rich countries and for poor countries, there are substandard products and facilities (Chossudovsky 2003). Products are also generated according to the status of country which is a clear indication that the entire world is not considered equal. 40 % of the world population is living under 2 $ per day, which also indicates that the poverty has increased as a result of globalization. Poor countries have become poorer while rich countries have become richer (Stiglitz 2002). In poor countries, there haven’t been more trades, barriers are large, and tariffs reductions are insignificant. All these conditions are troublesome for the poor countries that are facing at the hands of globalization. Globalization has caused big problems to unstable countries for example in many different matters, taxes, imports, exports, wages, the rights of the citizens and the abuse of democracy, all can be regarded as such matters that are to destabilize a country as a whole and all these aspects are troublesome for the poor countries as they are being controlled by powerful and rich countries of the world. Works Cited Bhagwati, Jagdish. In Defense of Globalization. Oxford, New York: Oxford University Press, 2004. Chossudovsky, Michel. The globalization of poverty and the new world order. 2nd ed. Imprint Shanty Bay, Ontario: Global Outlook, 2003. Steger, Manfred. Globalization: A Very Short Introduction. Oxford, New York: Oxford University Press, 2003. Stiglitz, Joseph E. Globalization and Its Discontents. New York: W.W. Norton, 2002. Read More