Globalization has made our world a much smaller place. With
the increasing communication capabilities, the connection between people from
all around the globe is getting much closer. Undoubtedly, globalization has
helped demolish those walls that separate us, in addition also strengthened
people’s connection.
Here is a quote from General Electric chairmen Jack Welch
(2000) in Goldberg (2011) that boasts about globalization. “Globalization has
changed us into a company that searches the world, not just to sell or to
source, but to find intellectual capital - the world's best talents and
greatest ideas.”
Globalization has brought plenty of changes in many aspects,
especially in sectors like politics, social, technological, and even economics.
Thanks to globalization, free trade has
become very accessible these days. Consumers can get imported product because
of a chain of international markets that can freely trade with each other. This
in turn helps in increasing the rate of production.
Besides, globalization has made us flat. This means that globalization
allows the exchange of information between countries. Countries can disseminate
and exchange information across borders without regards to distance, time or
geography. Globalization may help in improving global telecommunications and
transport links, making people even more connected at different places.
Moreover, globalization allows the expansion of business to
other countries. For example, a company that manufactures communication devices
in one country has the opportunity to open a factory in another country. It can
generate more working opportunities to local people besides expanding original
business. Economic growth of that country will increase with the foreign
investments.
However, with the emergence of globalization, the rate of
unemployment may increase. Companies tend to hire migrant workers because of
their cheap labor. This can help the company to cut cost in terms of wages
because foreign workers are cheaper than local workers, resulting in the increasing
number of unemployment among locals. According to May (2016), Abbott Labs had
replaced 180 local information-technology workers to foreign workers in March
2016. This mass layoff caused plenty of unemployed workers in the job market.
A consequence of globalization is the increased
competitiveness in the marketplace. Globalization is a huge game of survival of
the fittest. On one hand, positive competition is good because it can motivate business
growth. However, on the other side of the coin, small companies might be
pressured to shutdown due to the cost needed to compete with bigger companies.
In short, globalization has the potential
to improve quality of life around the world. It makes this world a better place
to live in, but there is also a trade-off we must be willing to make for
nothing comes for free in this world.
References
May, C. March 8, 2016. Outsourced
Abbott Labs employee: “Not a level playing field in this game called
globalization’’. Retrieved from www.breitbart.com/big-government/2016/03/08/outsourced-professional-at-abbott-labs-my-trust-level-in-government-right-now-is-pretty-low/
Goldberg, E. July 4, 2011. How will
the United States deal with the fissures created by globalization and
meritocracy? Retrieved from http://www.theglobalist.com/americas-enduring-advantages/
By Chin Jia Ning (40867)
By Chin Jia Ning (40867)
In my opinion, I personally think that globalisation is a good development for the rich- either country or epilepsy, but not for the poor. Globalisation in some sense have mould a scenario where the rich will getting richer, but somehow the poor will getting poorer. The main reason I said so because I found out that even globalisation have make human life easy as in everything are machine operated and followed by the latest technology that directly yield to the increase of production, there have make people life suffer also as standard living of the society have increase. For sure, the price of goods and services increase as well, but not for the employee's wages. The increase margin in price for goods and services is not a problem for the rich, but how about the poor ? Yet, globalisation also have high potential to lead to unemployment. Poor people might do everything in order to survive in that time, perhaps they might commit to crime.
ReplyDeleteTo me, there is no right or wrong to globalisation. In order for a country to progress, it needs to be able to adapt to the ever-changing world, globalisation included. This is why I whole-heartedly agree to your statement that "globalisation is a huge game of survival of the fittest". The strong nations emerge victorious whereas the weaker nations get booted out. Globalisation is an unavoidable phenomena, it's either you adapt to it or you lose out, but that's a small price to pay for progress.
ReplyDeleteI think globalization has made the world a more convenient place to live in. Although it has its set of drawbacks, I think that the benefits of globalization vastly outweigh the disadvantages. Without globalization, knowledge would not be as accessible as it is today. This is true especially in your paragraph about how globalization has made the world flat-- access to knowledge has been made so much easier. Besides, one benefit of globalization that I appreciate is the mobility that comes along with it. We are able to travel all around the world with ease now, and that, in turn, can expand our worldview. Consequences of globalization such as unemployment and market competition is inevitable, but it is a consequence that can be avoided by creating more opportunities. This is why I am in favour of globalization.
ReplyDeleteGlobalization has been a blessing and a burden for all of us. I can only hope and pray that the whole world will one day truly benefit from the hardships that globalization has caused. Globalization has made things such as transportation and communication easier and faster. Because of globalization, those who are in need and suffering in weaker nations are able to receive help from stronger nations through charities and funding. It changes the lives and fate of many people. Globalization is progress and the world needs to move forward to make the world a better place for our children's children.
ReplyDeleteIn my opinion, globalisation plays a significant role in creating wealth for the developing countries. It is unquestionable that globalisation stimulates the global economics in a short time and contributes to the development of countries, in terms of business trade and dissemination of knowledge. It is at the same time increasing the economics gap between the richest countries and the poorest ones, however. Other than the economics gap created, globalisation is good to the development of a country, especially in the field of economics.
ReplyDeleteFortunately, or unfortunately, globalization is simply good and bad and inevitable. Of course we do hope for the good will exceed the bad, however the existence of both is inevitable. What can we do is just accept it and continue to move forward.
ReplyDeleteIt is undeniable that globalization is unavoidable. In my point of view, globalization brings more benefits than harms to human. I think that globalization is essential for those undeveloped and developing countries. One of the reasons is that the economy of a country could be stimulated due to free-trade is allowed. This indirectly helps the country to develop economically. Other than that, globalization also allow exchange of information and technologies between countries. Thanks to the dissemination of the information and technologies, those countries that involved in the exchange would develop much more better than before. Despite there are also some harmful effects brought by globalization, I personally agree that globalization is beneficial for human in terms of development and progression.
ReplyDelete