The Pros And Cons Of Globalization
The definition of globalization has changed and evolved over the years
. Today, it is used to describe a continuous process wherein societies, cultures, and economies are integrated by means of global communication and exchange network.The term is also often used to represent changes in political, technological, and sociocultural environments. Since globalization has had such a widespread impact, it is but natural that people have perceived it in many different ways. Specifically, there are those who vouch for its long-term positive effects, and then, there are those who underline its negative influence.
Pros of Globalization: One of the most positive effects of globalization, beginning after WWII, is its impact on trade. With an increase in free trade, the prosperity and wealth of nations as well as their interdependence on one another has increased.
This, in turn, has considerably reduced the chances of war, speaking specifically from an economic point of view. Some of the direct effects of free trade include the establishment of free trade zones (these zones levy minimal or no tariffs), reduction in transportation costs, elimination, or at least, reduction in capital controls, establishment of subsidiaries by global corporations, and standardization and universal recognition of intellectual property laws.
On a cultural front, globalization has lead to what is referred to as homogenization. With developments in information and communication technology, the world has become a smaller place. As a result, traditional diversity is reduced, and a new multicultural identity is born. This has further lead to the creation of what is known as 'world culture.' With all boundaries lost, access to other cultures is easier, and people believe that this can help in the promotion of peace and harmony among different cultures and ethnicities. Globalization has also helped in promoting international tourism.
Further, there has been a standardization of not only cultural identity but also cultural likes and dislikes, with entertainment and pop culture being freely accessible to anyone, anywhere. Socially, globalization has helped non-governmental organizations by improving their reach into different nations. Globalization has also impacted legal and human rights.
Last, but not the least, globalization has also had a positive influence on the industrial sector, political climate, information and communication sector, and the environment.
Cons of Globalization: Globalization has resulted in the formation of several anti-globalization bodies, seeking to bring about awareness regarding its negative effects. Globalization has resulted in the spread of infectious diseases. With advancements in travel and transportation, people are no longer restricted in their worldwide movement.
Another concern is that while globalization has helped the economies of developing countries by increasing competitions and production in worldwide markets, it has, unfortunately, had a negative effect not only on the environment but also on prices and demand, especially for oil. Economically, critics argue that globalization is a disadvantage for poorer nations. While globalization does encourage free trade, it negatively affects national markets. Also, the exploitation of cheaper foreign labor has been widely criticized.
Moreover, apart from the initial problem of exploited foreign workers, the shift in outsourcing has also resulted in the loss of employment among those in the domestic manufacturing sector. In addition, the weakening of labor unions and lowering of wages has also been regarded as a negative impact.
Globalization has also resulted in the exploitation and increase of child labor. Lastly, globalization is said to have negatively affected national identity, uniqueness, and traditions.
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