What is Globalization

What is Globalization?

Article 1: Globalization: Pros and Cons

   In their article Globalization: Pros and Cons, Miranda, Bustamante, and Makowski seek to find out the benefits and costs of globalization. They point out the fact that globalization dates back to the era of the Industrial Revolution in Europe and the United States. Even though the development of globalization experienced a hiatus between the two world wars, it resumed its spread across all parts of the world after the Second World through the funding offered by such organizations as World Trade Organization (WTO), International Monetary Fund (IMF), and The World Bank.

Globalization has been discovered to have diverse effects on different issues across the world and politics is one of the key areas. Globalization has a profound influence on the political procedures or political integration that is currently taking place in the international arena. Globalization has influenced how varied entities have discovered some social goods and evils from different parts of the globe that have been affecting other parts in the world. For instance, human rights organizations have gained recognition for furthering social good in all parts of the world.

Globalization has also been identified as having profound effects on issues such as environment and migration, where globalization has played a critical role in making sure that the concept of raising environmental awareness among different parts in the world through different international environmental organizations is achieved. With regard to migration, globalization has improved international interactions among different people in the world and this has been crucial in making sure that people migrate to different parts of the world from their home countries.

Globalization has been discovered to be beneficial to businesses because they gain technology which improves their efficiency. Outsourcing has also been identified as a cost cutting technique for businesses. Competition has also been beneficial because businesses that offer superior goods are more likely to thrive in the international market. However, there are some setbacks that are linked to globalization. For example, outsourcing has denied many people job opportunities while competition has been very detrimental for local companies when feted against well established multinational corporations.

Article 2: Globalization and the Environment

The presentation for Multinational Crop. & Trade, globalization and the Environment, highlights the advantages and disadvantages of globalization. This article is inclined towards the impact of globalization on the environment. The article reveals that globalization is neither bad or nor good yet its effects and impacts can be controlled and influenced. Nevertheless, the effects of globalization cannot be essentially changed. The article defines globalization as the expansion of business enterprises across borders and the penetration of international market.

The three main aspects of globalization are Global Domestic Product (GDP), Industrialization, and the Human Development Index. The article further shows the fact that the expansion of business operation is founded on socioeconomic, political, and natural environmental developments. The article refers to the three in the general aspects of the environment, which is further defined as the condition that surround an individual, and as the conditions that subsequently affect the progress, health, and growth of the society.

Globalization has had a positive impact on the developed economies and this has been gained from improved technology which improves the health of people. Furthermore, globalization has also improved communications and access to cheaper resources. It has resulted in the enhancement of the business procedures through incorporation of technology. However, globalization has been found to negatively affect the developed economies because of the tendency of developing rapidly and massively which causes natural environmental disasters. Loss of jobs to the emerging economies due to globalization has also been identified as a major negative effect on the developed economies.

The emerging economies have also gained some benefits from globalization, and these include technology and other developments that aid in fighting disease, and steering projects that give the local people access to clean water. Globalization also provides the global corporations access to the emerging markets, hence providing the residents of these countries with job opportunities, as well as giving the emerging economies an additional source of revenue. There are some demerits that come with globalization in the emerging economies. For example, the multinationals have gotten involved in exploiting the of resources of such economies for selfish gains and these resources include human capital and natural resources.

 Pros and Cons of Globalization

According to the first article, Globalization has played a crucial role in ensuring that different regions of the world gain access to information that is important to empowerment and environmental protection. Institutions like the IMF, WTO, and the World Bank have also played a key role in making sure that there is uniform development across different countries of the globe. The transfer of knowledge and technology is yet another important benefit, which has enhanced the international development.

However, the first article also points out some negative aspects of globalization. One of such negative effects is the fact that multinationals have exploited this opportunity to benefit from the international market in an unfair manner. Exploitation of the natural resources within the developing economies by multinationals has caused a significant degradation of the environment in the exploited developing economies.

The second article highlights the pros and cons with regard to the environment. One of the advantages of globalization is that it offers different communities in the developing communities an access to better services. The article also highlights the fact that globalization has also realized the international initiatives to protect the environment. The article exemplifies the Doha Development Agenda and The Doha Declaration which are initiatives that have been critical in safeguarding the environment especially within the emerging markets in the world.

The article also points out a number of negative effects of globalization. For example, it points to the fact that multinationals have been carrying out exploitation in their use of human capital and natural environment within the emerging markets. The article gives the example of cheap labor and child labor to depict the link between globalization and the resultant exploitation of human capital.

Questions Formulated

Article 1:

  1. What is the role of World Trade Organization, International Monetary Fund and the World Bank in developing the concept of globalization?
  2. How has globalization negatively affected business in the developing economies of the world?

Article 2

  1. What are the three primary components of globalization?
  2. What environmental benefits has globalization offered the emerging economies in the world?