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Globalization - Good or Bad - Essay Example

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A CRITICAL REVIEW OF GLOBALIZATION: GOOD OR BAD The article is about merits and demerits of globalization. On the whole the author has supported globalization and put an emphasis on the merits of globalization like on one place the author states that it is the globalization that has helped to overcome the acute poverty and income inequalities prevailing in the world since last two decades…
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Globalization - Good or Bad

Download file to see previous pages... One needs to tell them poverty prevails mostly in those countries which have formulated policies discouraging the globalization. In the above statements author tends to prove that it is only the lack of globalization in terms of trade that has caused poverty. The author has neglected many other factors like availability of natural resources, knowledge and technological development. Likewise we can take an example of trade between Somalia and USA. In such a trade USA definitely would be the one gaining more benefits. What Somalia has to trade with USA? Therefore trade is beneficial where exchange takes place and both the parties are in a win-win situation. On another place writer states that “it is generally believed that developed and rich countries have forced the under developed countries to withdraw their trade barriers. While they themselves have kept their own barriers intact making it impossible for underdeveloped countries to trade with, in actual international trading policies are similar for all”. While commenting like above the author has adopted a very bookish approach and put the reality behind the curtains. The fact cannot be denied that the developed and rich countries have influence over the policies of poor and underdeveloped countries. Furthermore it is stated in the article that “the trade barriers kept by underdeveloped countries against each others are the most significant hindrances to their development”. Above statement seems to be justified because imposing trade barriers against one another makes it difficult for all the underdeveloped countries to trade with each other. Such a policy needs a revision by the governments of those countries. International bodies like World Bank, IMF, and uno may also intervene in this regard. Moreover, the writer has criticized the leaders of some underdeveloped countries who justify the barriers by the developed countries and keep relaxing their own trade barriers. The above criticism also seems to be justified because by this only developed countries get benefit. In the last lines of second paragraph article states that with such an international trade everyone would benefit but the more interesting fact is that what these some ships will do when more than 2 trillion dollars of donation to Africa and Asia by USA and Europe could not do anything. The world needs to think about these last lines and should work on it collectively, if it really is interested in elimination of poverty. On one place the author has supported the bringing of foreign direct investment in developing countries. For this article states that, It is generally believed that if unnecessary protections set by the government are removed and corporations like multinationals are invited to invest in the country and act freely, this would not only strengthens the economy but also the social and environmental developments in the country. It is therefore most of the countries formulate especial and relaxing policies for foreign direct investment. Above words are based on the reality and reflects the practical approach of the author. Furthermore article discusses the analysis by different analysts about the operations of multinationals in the country. For this it is stated that many people argue that labour class especially in ...Download file to see next pagesRead More
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