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Globalization - Essay Example

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Summary
Globalization was an integration and interaction process among the people, industries/companies, and the governments of different nations across the globe. Investment and international trade was the key driving factors of globalization. It was further aided by information…
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Globalization

Download file to see previous pages... The environment was also affected by this in terms of waste materials from the production processes, carbon footprints that were associated with global warming and increase in hazardous wastes, which risked even the lives of people. National politics was also affected by this as the government was bent into luring potential investors into their Nation. In the developing and underdeveloped countries, this was very much pronounced as the foreign investors dictated the political states of these Nations before they could move in and invest or participate in trade on the same platform.
The prosperity of a Nation and its economic development relied very much on globalization. This enabled the Nation to participate in international trade platforms where it could generate foreign income for its nationals from exporting what it could produce in surplus. The nation also stood to enjoy access to goods and services that it could not produce by importing from other Nations, example being like the case of crude oil. The economy of a country could either be elevated or downsized depending on the difference between their imports and exports. Globalization also had a pronounced effect on peoples physical well being in communities across the globe. This was as a result of better living standards coming directly and indirectly from the salary and wages in the international trade, access to social amenities and improved infrastructure that came as a result of increased investment in a society.
Negative effects were also possible in cases where the incoming foreign companies compromised the society’s morals, cultural practices and the environmental cleanliness. Increase in the level of Technology and the current policies had led to increased trade, migration, and investment across the borders. Technology had played a very important role in the globalization. (Vallas, 2009, p.33) Development in information technology gave a platform for ...Download file to see next pagesRead More
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