Essay on Globalization

Introduction

Since the fall of Communism, Globalization, both famous and controversial, has been one of the issues most highly contested. ‘There are intense globalization arguments, including if there exists, what is of relevance now than in the past, If the state is replaced and if it is of more importance than regionalism (Stallings 2000). This implies different things for many individuals, and in most situations, it is still a foggy and mis defined idea. Everyone thinks that globalization and the established and emerging economies are complicated processes with broad implications.

This poster is prepared to present a case study of the concept of globalization. The case study examines the concept of globalization in detail in the view of worldwide interdependence and development. The presented case study also examines the different impacts of globalization on world trade, economy, and global competition.

In critical consideration, globalization is both an interdisciplinary and complex issue in a more profound sense. This definition is assessed from various viewpoints, including the most common, economic, and social, cultural, philosophical, and governmental views. “A name that is now in vogue to account for peoples, behaviors, cultures, ideas, goods, activities, and economies that are becoming less confined to a physical location and its localized and existing practices,” says James Rosenau, a famous political scientist (Stallings 2000).

Global Interdependence

Globalization is unpredictable and changing, but not wholly unpredictable. Four key elements have been identified as the fundamental causes of global interconnectivity.

Investment, business and commerce, technological breakthroughs, and worldwide social networks are some of these causes. (Bertucci & Alberti 2001). Many think that the driving engines of globalization are entrepreneurship and technology development. However, they do not explain themselves on the route to further economic integration. Authorities have played a major role in promoting the rising connectivity between different activities at the regional and global levels by developing business rules and processes (Alberti &Bertucci 2001). The economic component of this is strongest as it drives social and political elements (Ibrahim 2006). Because of colonialism that began with the industrial revolution in Europe.

Global Development

Globalization has paved the door for international cooperation. Still, growth isn’t uniform because certain nations adapt quicker than the others, as their faster economic development and lower poverty rates are visible (Lawal 2006). In other words, globalization does not benefit all members of the globalized world uniformly. It helps members of developed nations more, whereas emerging countries are perceived to be at a loss. However, one can see both sides of the coin regarding the effects of this on both the under developed and developing countries as it consist both positive and negative repercussions. Events hundreds of kilometers away can affect a country’s economic, social, and political situations. Capitalism and socialism in the Soviet Union also assisted towards the independence of Ghana.

The growth of the life’s level also is an advantage of globalization for emerging countries. By stepping up foreign money flows from developed and developing countries, economic globalization aims to decrease poverty. This funding to help developing countries improve their education, health, social affairs, and transport allows people to improve their living conditions. Poverty for developing nations is one of the most severe effects of globalization. Poverty has been linked to globalization. According to Kofi Annan, Globalization is currently benefiting just a tiny number of countries. According to studies, the number of people in poverty has grown in Latin America, Sub-Saharan Africa, Central Asia, Europe, and the Caribbean in Fourteen, Eighty-two and eight million correspondingly (Impact of Globalization 2004).

Impact on World Trade 

As a consequence of the beneficial effect of globalization, there is a “growing inclination towards trade in industrial components” (Mubiru 2003). The partial transfer of numerous manufacturers from affluent countries to new sites in developing countries reduced trade barriers in many developing nations. This might be due to tax incentives, lower tariffs, or greater proximity to low-cost workers and consumers given by many developing countries to attract international investors. As a result, the impoverished host nations will gain a plethora of benefits. Creating additional jobs would increase employment opportunities for indigenous people. Foreign businesses may also bring new technologies into the country. There are more significant opportunities for local employees to be taught due to the transfer of new technologies from affluent nations. It has been noted that the establishment of distribution networks is often a byproduct of manufacturing subsidiaries (Mubiru 2003). Sometimes, whole areas are imposed at once, resulting in benefits that reach beyond national borders.

Impact on health

In terms of the capacity to protect, prevent, control and kill these diseases, internationally and in particular in poor nations, the epidemiology of infectious conditions has been severely impactful given the global aspect of health and disease globalization. One method to do this is to expand worldwide technical capabilities, resulting to greater emissions. Consequently, increased spread of bacteria transmitted by mosquitoes. Human and animal comportament like the swimming pools are likely to be contaminated by the Schistosome bacteria. Over the years, substantial advances in international commerce have pushed Western diets to be added to most developing nations’ traditionally natural diets. Promiscuity among young people and adults led to the progressive integration of the Modern life through globalization.

Conclusion

Globalization is a complex process with far-reaching implications for impoverished countries, as this poster has illustrated. In addition, the effects of other variables, notably in structure and character of the most emerging countries, are influenced by globalization. This creates significant problems for emerging nations in terms of economic growth. Industrialized global leaders need to recognize the prime responsibility of their immediate societies. To achieve their different economic objectives, governments must thus develop suitable reforms and policies that drive trade liberalization and globalization in general. It is not a realistic strategy to slower the globalization process. This should be done for the growing country to compete effectively in a wider nexus of globalization.

References

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