21 February 2011
Globalization: The Key to be united as one Globalization increases free trade between the nations. It refers to the increasing flow of the communications, and allows vital information to be shared between individuals and corporations around the world. Many people view globalization in different ways. Some view it as a process that is beneficial, a key to future world economic development. Some view it with opposition, even fear, believing that it increases differences between nations and threatens employment and living standards. Globalization offers big opportunities for truly worldwide development but it is not progressing evenly. The World Bank announced that “the developing world economy is growing much faster than the global average, all this means is that these developing countries are catching up to first world nations”. (Rich and Montanez-Muhinda) Globalization connects the people economically, technologically, politically, culturally and environmentally resulting in an essential tool for development. Economically, globalization has opened doors for trades. Globalization has embraced trading of various products from country to country, therefore, improving the world's economy. A product of a certain country can be exposed throughout the world. Not only the manufacturers and retailers take advantage of it, but also consumers are benefited through globalization. It gives them variety of good quality products for economical prices. Supporters of free trade also point out the advantages of globalization for example, lower prices of products and more employment. According to Michael D. Intriligator: globalization affects the employment of labor and other inputs into the production process. In addition, it affects investment, both in physical capital and in human capital. (7)
Technologically, the information revolution has resulted in massive improvements in communication, through faxes, cell phones, email, and the Internet. “The advent of internet, along with worldwide shipping courtesy of Federal Express, United Parcel Service, DHL and others has further enabled people in developing nations to create websites that promote local culture and products”. (Pearson) These technological improvements have connected the World making it seem like distances are shorter between one another and improving relations. The worldwide communication is both quick and easy. There also exist people that view globalization as being inevitable and a key to our economic future. It has the potential of making societies richer through trade, and creates knowledge and understanding to people around the world.
If Country X can produce Product Y cheaply and Country A can produce product B cheaply, they ought to be able to freely trade these two goods the same way that states within the U.S. can trade goods and services freely. This idea, called comparative advantage, is the basis for many international models. (Rich and Montanez-Muhinda)
Globalization has advances our world and makes us a more united nation. Globalization has impacts in the political arena as well. The nature and degree of globalization’s impact on national and international politics is fractional. “Changes in political structure and practices resulting from economic globalization are only a partial explanation of changes in world politics in the late twentieth and early twenty-first centuries”. (Social Science Research Council) Globalization has a rapid trend of moving goods, services, finance and labor freely. It is making the economic orientation of the modern nation-state obsolete.
Culturally, globalization opens doors on this matter so that people or countries can have an exchange of culture, language, points of view and knowledge. It spreads multiculturalism and access to cultural diversity among human beings. Different kinds of food, clothes, languages, and other cultural related things are promoted when talking about…