Globalization occurs when countries get rid of their barriers to make a pathway where ideas, beliefs, and culture can cross borders. Globalization is not limited to affecting the economy only; it also has an effect on many other aspect of life, such as cultural, social, psychological issues. Though some view globalization as the means for a hopeful future, others see is as a potential disaster for the world’s economy. Thus, because Globalization is a controversial issue I believe that it is important to highlight both its pros and cons.
There are many pros to the benefits that globalization would have. With globalization there would be a universal market that would allow companies from all over the world to trade products with one another, which would allow people a wider range of options. Currently there is enough money in the world to feed every man, women and child, however, resources are unfairly distributed; developing countries are often the ones who feel the burden of this fact. Globalization would greatly help developing countries because there would be a more equal flow of money. Also, there would be an increase in the production sector that would allow manufacturers a greater variety of options. Inflation would be less likely to occur because competition is known to keep prices lower. Also it would be reassuring to know that no one country “remains the single power head; instead there are compartmentalized power sectors.” Globalization would help communication between different countries, which would hopefully minimize conflict, and prejudice. Communication would also give countries an opportunity to experience other cultures. Diversity would be much more prevalent.
Though the pros of globalization seem to outshine the cons, the cons should still be mentioned. Many Europeans are losing their jobs because of globalization. This is happening because jobs are going to people in the Asia countries because all expenses are cheaper, for example, production and employment rates are less expensive which creates a more efficient system. When countries transfer the quality of their products to other countries they are increasing their chances of being qualitatively deprived. Also, many experts believe that globalization is the cause for many of the diseases as well as social erosion in countries. Many people find it frightening to think that corporations could potentially rule the world if globalization continues. Lastly some argue that rich countries take advantage of poor countries where there are lower wages.
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The cons you list on here do not quite seem to apply directly to globalization alone. The interaction of globalization and sovereignty is the true culprit in the exploitation and uneven distribution of labor. If sovereignty were not the world order, ideally, there would be no difference in the cost of labor throughout the world. I believe that when globalization truly kicks in, these cons will disappear along with sovereignty.
ReplyDeleteAs far as people losing jobs to people overseas, this should not be problematic. Had they maintained their jobs, they would be increasing the cost of living domestically with their inefficient, effectively lowering everyone's standard of living.
ReplyDeleteThat being said, my statement assumes a truly free marketplace. The real problems in this case are discrepancies of law, which place countries at different levels on the economic playing field. Globalization tends toward the elimination of these discrepancies.
It seems that everyone sees that globalization has pros and cons, but that is typical of any movement across the world. Not every idea is going to apply or benefit everyone involved. In class we were asked about the loss of a language. At the time, I didn't think it was a big deal, but now I see it as a major loss to society. However, this loss of a language is necessary in some cases because we see the benefits of globalization as a bigger deal than the loss of certain aspects in a society.
ReplyDeleteLeann,
ReplyDeleteThe pros you are talking about might not really be pros. Say, globalization seemingly makes it possible for resources and money to be distributed fairly, however,the existence of organizations like the TNC will always focus on their won benefits as developed nations. Thus, there might be larger gaps between developed and developing countries as the former have more reasons to take advantage of the latter.
Also,inflation might still occur because it's not simply determined by the price of goods and service.There are many more factors such as the demand for money. Actually inflation is now happening in the US although it's the most globalized country.