24 Pros And Cons Of Globalization

Conversely, opening the economy to trade and long-term capital flows need not make the poor worse off if appropriate domestic policies and institutions are in place–particularly to help shift production to more marketable goods and help workers enter new jobs. Those who are dubious of the benefits of globalization point out that poverty has remained stubbornly high in sub-Saharan Africa. Between 1981 and 2001 the fraction of Africans living below the international poverty line increased from 42 to 47 percent. But this deterioration appears to have less to do with globalization than with unstable or failed political regimes.If anything, such instability reduced their extent of globalization, as it scared off many foreign investors and traders. Volatile politics amplifies longer-term factors such as geographic isolation, disease, overdependence on a small number of export products, and the slow spread of the Green Revolution [see Can Extreme Poverty Be Eliminated?

For example, many of the largest and most successful corporations in the world are in effect truly multinational organizations, with offices and supply chains stretched right across the world. These companies would not be able to exist if not for the complex network of trade routes, international legal agreements, and telecommunications infrastructure that were made possible through globalization. Important political developments, such as the ongoing trade conflict between the United States and China, are also directly related to globalization. In essence, globalization is about the world becoming increasingly interconnected. Countries today are more connected than ever before, due to factors such as air travel, containerized sea shipping, international trade agreements and legal treaties, and the Internet.

But although the poorest are not, on the whole, getting poorer, no one has yet convincingly demonstrated that improvements in their condition are mainly the result of globalization. In fact, a substantial part of the decline in poverty had already happened by the mid-1980s, before the big strides in foreign trade or investment. Of the more than 400 million Chinese lifted above the international poverty line between 1981 and 2001, three fourths got there by 1987. Individual IFI governance and G20 governance fragmented across finance, health, education, migration, and anti-terrorism channels are no longer sufficient, as we are seeing in the global COVID-19 vaccination failure. This doesn’t mean eliminating IFI boards or downgrading the G20 finance channel. Rather it means building new workable governance structures that bring together all the actors needed to effectively address the different GPG challenges.

Feminist philosophers strive to accurately reflect the diverse interests, experience, and concerns of women throughout the world, and to take seriously differences in culture, history, and socio-economic and political circumstances. This has led some feminist theorists of globalization to distinguish their views from well-known feminists, such as Martha Nussbaum and Susan Okin, whom Ackerly and Attanasi refer to as “international feminists” by virtue of their methodological commitments. In their view, Nussbaum and Okin do not pay sufficient attention to the ways that justice and injustice are mediated by local conditions in their attempts to identify universal moral ideals. As a result, their theories tend to privilege Western perspectives and undermine their own commitment to reflecting women’s lived experience . Although political and economic globalization are interconnected and mutually reinforcing, they differ in significant ways.

Globalization is good because it provides the world with more efficient markets, increases competition leading to better goods, generates wealth in all parts of the world and builds and stabilizes security. Globalization is steadily growing as technology allows individuals within each country to communicate with people previously out of reach. Arjun Appadurai talks about the possible effect of ‘homogenization’ of culture, where dominant nations like the United States spread their cultures through television and movies, which leads to the dilution and loss of local and indigenous cultures. The growth of stock exchanges like the NYSE and FTSE as well as internationalization of financial markets has made it easier for people to transfer money internationally. Technological globalization refers to the spread of technology around the world.

As a reference for education in Indonesia, the 2013 curriculum emphasizes eighteen characteristics derived from native wisdom that must be incorporated into the teaching – learning activities. The present research aims to examine primary school teachers’ perspectives on incorporating a Balinese local value known as Tri Hita Karana into character education instruction. Simplistic antiglobalization slogans or sermons on the unqualified benefits of free trade do not serve the cause of alleviating world poverty. An appreciation of the complexity of the issues and an active interweaving of domestic and international policies would be decidedly more fruitful. Under the current international patent regime, global pharmaceutical companies do not have much incentive to do costly research on diseases such as malaria and tuberculosis that kill millions of people in poor countries every year. But research collaborations are emerging among donor agencies, the World Health Organization, groups such as Doctors Without Borders and private foundations such as the Bill & Melinda Gates Foundation.

globalisation problems

The pollution level can be increased due to an increase in industries and production. Despite the various pros and cons of globalization, this one remains the biggest global threat. It reduces the expenditure of government by creating opportunities for foreign investment. The idea that free trade maximizes benefits for all is one of the few tenets economists agree on.

There is a program — understaffed and poorly publicized — to help small producers, but the farmers I met didn’t know about it. In Chile, I met a man who works at a chicken-processing plant in a small town. The plant is owned by Chileans and processes chicken for the domestic market and for export to Europe, Asia and other countries in Latin America.

And in a closed economy, the ”state” car factory is often owned by the dictator’s son and the country’s forests can be chopped down by his golf partner. When there is no selection procedure, the introduction of other cultures as a result of globalization has the potential to diminish the culture of local populations. When a country has a good character basis, the selection process should be carried out.

globalisation problems

There is no definite solution; therefore we can only experiment, try out different methods of solving; unemployment, exploitation of workers, and poverty.

It’s a common perception that trade flows are driven by companies searching for low-cost labor. However, in value chains today, only 18% of the goods trade is based strictly on labor-cost arbitrage. But while it’s tempting to extrapolate the past effects of globalization into the future, such a leap may also be a mistake.

Furthermore, globalization leads to disappearing of many words and expressions from local language because many people use English and French words. In addition, great changes have taken place in the family life, young people trying to leave their families and live alone when they get 18 years old, and the extended family tends to become smaller than before . Economic globalization is how countries are coming together as one big global economy, making international trade easier.

  • In this regard, it is important to remember that the ancient silk road was the most prosperous platform from the 7th to the 9th centuries under its bipolar hegemony, with the Tang Dynasty to the east and the Sassanian Persian empire to the west.
  • I think goods must be certified compared with national policies in order to be sold in the western market; laws should be implemented in order for this to happen.
  • That’s because there is growing evidence that globalization itself is quietly transforming – and how it ultimately evolves may be markedly different from what most business leaders might expect.
  • To begin, immigration policies must include specific provisions that make it easier for careworkers to bring their children or return home on a regular basis.
  • Global care chains also contribute to a larger, neo-colonial process – a “global care drain,” in which care is systematically extracted from people in poor countries and transferred to individuals in affluent nations .

The international political system is comprised of sovereign states, which enjoy a monopoly on political power within their own territories. International treaties govern relations among states; however, states generally cannot legitimately intervene in the domestic affairs of other nations. Thus, when globalisation problems, such as famines, genocides, and civil wars arise, they are seen primarily as security issues for individual states, not matters of justice affecting the global community .

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