Free Essay Dedicated to Globalization

Published: 2022-03-23 07:44:53
Free Essay Dedicated to Globalization
Type of paper:  Essay
Categories: Globalization
Pages: 7
Wordcount: 1788 words
15 min read
143 views

Globalization is the process of interrelation and integration either among people, international organizations and the states of different countries or the movement of goods, people or services. Globalization is driven by international trade and investment, and is mostly facilitated by advancement on the levels technology (Stallings, 2000). It can also be used to depict the interlinking of different nations for political, economic or educational equity. The interlinking between countries helps them to view themselves as part of the world and not as a separate nation. Globalization aims to increase trade among countries by opening up of global economic trade centers around the globe.

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However, globalization has both positive and negative impacts on the participating nations (Goldberg, & Pavcnik, 2007). A country can also be categorized as developing if it has a low average annual income per person and the largest portion of its population depends on the agricultural sector for household income. Argentina, Ukraine, Thailand, Mexico, China, Kenya, Nigeria, Rwanda, Ghana, and the Philippines are an example of developing nations in the world (Thirlwall, 2003).Technological innovation and entrepreneurship are the major key drivers of globalization. The impacts of globalization differ from one nation to the other. However, there are more benefits which result from globalization as compared to the negative impacts in developing countries. This paper will focus on the impacts of globalization on China and Ghana as an example of developing countries.

Positive Impacts of Globalization

Globalization implies that nations loosen their import and export restrictions to allow the easier exchange of goods and services across the bounders. It is through globalization where nation which has an excess supply of a particular good, can export it to the nation with a deficit thus benefiting both the trading nations. Furthermore, nations around the world have to adhere to the rules set by the World Trade Organization (WTO) to ensure that the terms and conditions of trade are adhered to by all the member countries. There are other bodies which have been set to oversee that all countries follow the agreed principles and policies of free trade as well as the nondiscriminatory policies

Globalization and the Standards Of Living

Globalization has facilitated to the improvement in the standard of living for people in the developing nations. One of the main goals of globalization is the reduction of poverty through the creation of new job opportunities, social amenities, improvement of infrastructures such as roads, and improving on the education sector. When foreign investors open up businesses in these countries, infrastructures such as roads will improve to enable them to transport their goods to the market, thus improving the lives of the local in the locality. Globalization also focuses on the improvement of the health sectors by introducing modern equipment in hospitals which are fast and more efficient as compared to the previous equipment. For example, in China, the mortality rates have declined with the life expectancy of people doubling by the year 1999. Moreover, adult illiteracy rates in these two countries have declined over the years as a result of globalization (He, Wei, & Xie, 2008).

Globalization and Economic Growth

Globalization has contributed to an enhanced economic growth among the developing nations. This is as a result of increase on the level of international trade among nations which is usually facilitated by the removal of trade barriers between countries, which gives investors from developed nations an opportunity to start-up business hence the creation of more jobs leading to an increase on the household income leading to an enhanced economic growth. The economy of China and Ghana has improved as a result of globalization over the years

Globalization on Unemployment

Role in the reduction of unemployment. Through globalization, the reduction in trade barriers, tax exemptions and lowering of trade tariffs, investors from the most developed countries relocate to the developing countries to invest in the unexplored markets due to the availability of ready markets. This helps create new job opportunities in the developing countries thus reducing the high level of unemployment in these countries. For example, in both countries, foreign investors have created employment opportunities to the host countries thus reducing the unemployment levels in the economy.

Globalization and Technological Advancement

There have been massive advanced of technology over the years as a result of globalization. This has been attributed to foreign investors introduces the technology used in their home countries thus giving the citizens a chance to learn and adapt to the new and advanced one. Also by this investor training their employees in the local countries they invest in, they ensure that the local have knowledge in modern technology. Globalization has resulted in the transfer of technological knowledge from the most industrialized nations to the developing countries.

Increased Global Competition

Additionally, globalization has contributed to global competition which in the long run contributes to competition in the local markets. This ensures that goods produced are of high quality and prices for the goods are fair to the customers maintaining high-efficiency levels in the economy. It also aids in the improvement of innovative capabilities as well as creative abilities.

Globalization and Urbanization

Globalization has led to the rise of urbanization in all the cities in the member countries. Through globalization that there is infrastructural development as many foreign investors start-up businesses in the major towns of these developing countries, which leads to the rise of demand of more infrastructure leading to urbanization. Business opportunities will rise creating opportunities for entrepreneurs to startup businesses in the urban areas. Thus the populations will rise as more people migrate from the rural areas to work for the emerging firms in the cities.

Improvement in the Education System

The education sector has improved due to the introduction of the modern education system which makes education easily accessible and enhances the interaction among the students all over the world. The introduction of the online education system has enabled students to take their studies in the comfort of their homes or any other place. Students can also access learning materials online and interact with their tutors through the platform such as e-learning. It is also through globalization that developing countries have been able to reform from the informal to the formal education system which yields more benefits to the nations and exposes students to better skills. Globalization has also enabled exchange programs where students from higher institutions can study in any university o their choice anywhere in the world.

Ease in outsourcing of human capital. Globalization has led to advancement in the level of technology enabling nations with less human capital outsource from other countries by the use of the internet. An example is the freelance writing where developed countries through globalization can outsource writers from the developing nation through the internet to accomplish tasks demanded by the client.

Improved Trade between Nations

Through the removal of trade restrictions and trade barriers, trade between nations have improved as it has become easy for foreigners to access documents for trade in the countries desired. Also, there are initiatives given by the respective government to attract investors such as subsidies and tax exemptions. For example, Ghana can export cocoa to other nations easily due to the removal of trade restrictions. The government of Kenya has contacted the Chinese government for road constructions in the country. It is through globalization that developing countries have access to new markets around the world (Bertucci & Alberti, 2001). The removal of trade barriers has aided in the transfer of technology, labor and foreign capital from developed countries to the developing nations. China was able to sell most of its products to other continents such as African countries thus ensuring their excess products that are not consumed in their local economy are exported to other new markets. According to Bertucci and Alberta (2001), the inflow of direct foreign investment has continually increased to the developing nations in the year 1988 and 1989. China and Ghana are some of the beneficiaries of these investments among other developing nations

Innovation

Globalization has lead to increased innovation. This is evidenced in the banking system where there is an introduction of paperless money and credit cards such that people do not need to carry cash around. Also, through the introduction of the online banking system has enabled people to carry out business transactions from any location, unlike the past where one was supposed to follow numerous procedures.

Negative Impacts of Globalization

Despite the numerous benefits developing countries leaps from globalization, there are some negative impacts globalization has brought forward. Discussed below are some the disadvantages associated with globalization. According to Kofi Annan (2000), globalization has contributed to increasing poverty levels in these nations. Only a few countries have enjoyed the benefits of globalization. Globalization has widened the gap between the developed and developing nations, with the developed nations leaping more benefits.

Climate change

Global warming has been attributed to globalization. With the opening of numerous industries, water, and air pollution have become a major problem to most of the developing nations due to lack of proper waste disposal. Factories releasing harmful gases into the air cause air pollution which has contributed to adverse climate changes in many continents around the world contributing to adverse changes in the weather pattern as well as calamities such as drought and famine leading the loss of human and animal lives. Shortage of water has caused conflicts among firms due to lack of enough water to run their industries. Companies which dispose their waste materials into the rivers and other water bodies have to lead to loss of marine lives which are a source of tourist attraction in some countries. For example, in Ghana, air pollution has contributed to the shortage of rainfall in the country as compared to the past where there was sufficient rainfall (Aryeetey et al., 2001).

The introduction of modern equipment which are fast, by the transfer of advanced technology from developed countries. People have lost their jobs as most employers prefer to employ the new technology which is faster and more efficient as compared to human capital leading to rising unemployment levels. The rise in the unemployment reduces the household income which in turn affects the per capita income of the entire country. This affects people's lives negatively as their standards of living will lower an increase in the dependency level on employed family members in the nation. Additionally, there will be a rise in the level of criminal activities around the nation as the unemployed will turn to activities such as theft and fraud to sustain their lives.

Globalization has contributes reduced human interaction due to the introduction of modern communication gadgets such as mobile phones and laptops. In the past, people would travel from differ...

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