globalization
globalization
Globalization
The term globalization referred to as stretching ,thickening, widening and deepening or interconnectedness of the world .As we all know that by the nineteenth century the process of globalization has immensely increased but it has to be our foremost priority to understand whether the globalization is good for us or not? Here are some global facts that will guide you to distinguish between good or bad:
Global income is more than $31 trillion a year, but 1.2 billion people of the world's population earn less than $1 a day.
80% of the global population earns only 20% of global income, and within many countries there is a large gap between rich and poor.
The 3 billion people living in the 24 developing countries that increased their integration into the world economy enjoyed an average 5% growth rate in income per capita, longer life expectancy and better schooling.
Two billion people, living in countries in sub-Saharan Africa, the Middle East, and the former Soviet Union, have been unable to increase their integration into the world economy, and their economies have contracted, poverty has risen, and education levels have risen less rapidly than in the more globalised countries.
Sea level rise, warming temperatures, uncertain effects on forest and agricultural systems, and increased variability and volatility in weather patterns are expected to have a significant and disproportionate impact in the developing world, where the world's poor remain most susceptible to the potential damages and uncertainties inherent in a changing climate.
The digital and information revolution has changed the way the world learns, communicates, does business and treats illnesses. In 2002, there were 364 people per 1000 using the internet in high income countries, while there were only 10 per 1000 in low income countries.
Keeping these facts in mind we must gone through the report produced by World Bank regarding the hazards of globalization for developing countries which in one way or other proves it unnecessary for developing world because There are social and economics cost to globalization .Trade liberalization rewards competitive industries and penalizes uncompetitive ones and it requires participating countries to undertake economic restructuring and reform while this will bring benefits in the long term there are dislocation costs to grapple within the immediate term and the social cost for those affected are high.
The increasing interdependence of countries in a globalised world makes themmore vulnerable to economic problemslike the Asian financial crisis of the late 1990's.
Theenvironment has been harmedas agricultural, forest, mining and fishing industries exploit inadequate environmental codes and corrupt behavior in developing countries. Agricultural seed companies are destroying the biodiversity of the planet, and depriving subsistence farmers of their livelihood.
The major economic powers have a major influence in the institutions of globalization, like the WTO, and this canwork against the interests of the developing world. The level of agricultural protection by rich countries has also been estimated to be around five times what they provide in aid to poor countries.
Trade liberalization andtechnological improvementschange the economy of a country,destroying traditional agricultural communitiesand allowing cheap imports of manufactured goods. This can lead to unemployment if not carefully managed, as work in the traditional sectors of the economy becomes scarce and people may not have the appropriate skills for the jobs which may be created.
Modern communicationshave spread an awareness of the differences between countries, andincreasedthedemand for migrationto richer countries. Richer countries have tightened the barriers against migrant workers, xenophobic fears have increased and people smugglers have exploited vulnerable people.
Globalised competition can force a 'race to the bottom' in wage rates and labor standards. It can also foster a'brain drain' of skilled workers, where highly educated and qualified professionals, such as doctors, engineers and IT specialists, migrate to developed countries to benefit from the higher wages and greater career and lifestyle prospects. This creates severe skilled labor shortages in developing countries
Indigenous and national culture and languages can beerodedby the modern globalised culture.
This is the matter of worry especially for Asian countries having rich cultures .
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