Globalization - Free Paper Example

Introduction

The globalization concept has generated many controversial issues and debates since the collapse of communism (Sternin, 2014). The current arguments of whether globalization exists also point out important factors that displace a nation and show how important it is in localism and regionalism. Globalization might have several definitions, but it means something different to different people (Sternin, 2014). The paper will argue why globalization is more beneficial in world development.

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Globalization and Enhancement of the World

The undisputable factor about globalization is that it is a multidisciplinary, complex, and prismatic topic that can be examined in angles that comprise economic, ideological, cultural, and positive factors (Brundenius & Weeks, 2011). Globalization is referred to and accepted as the speeding, widening, and deepening of the world interconnectedness in the contemporary social, cultural, and financial aspects (Brundenius & Weeks, 2011). However, the most accepted definition is that today globalization is the connector of communities and cultures to form development from one country to another.

Worldwide Interdependence and Globalization

Globalization is a phenomenon that has a variety of trends and tendencies in the cultural, social, and economic spheres (Rijgersberg, 2010). The unpredictable and dynamic facts about globalization are that it pushes forward the world interdependence such as global social networks, technological innovation, entrepreneurship, and the liberalization of investment and trade. The most influential force is the economic dimension and how it drives both the political and social aspects (Rijgersberg, 2010). For instance, the European and African cultures found their ways due to the colonization era triggered by the European industries' revolution (Rijgersberg, 2010).

Worldwide Development

Globalization has created a way for world development by allowing nations to integrate faster into the global economy to reduce poverty levels and increase economic growth (Radetzki, 2011). In developing countries, globalization has made some countries to achieve independence. For instance, after the Second World War, Ghana gained its independence and created the history of the Gold Coast (Radetzki, 2011). The same situation that took place miles away affected Ghana's social, economic, and social position. The same thing happened to Rwanda, Nigeria, and various developing countries due to the world events that positively impacted their ability to acquire self-rulership (Radetzki, 2011).

Negative Impact of Globalization on Developing Countries

Even though globalization has enhanced and facilitated the economic and cultural growth of the developing countries, it has also made some countries poor (Incekara & Savrul, 2013). Even though it is difficult to assess the areas affected, research has revealed that the rate of poverty increased by 14 million, 8 million, and 82 million in Central Asia and Europe, Carrebian and Latin America, and sub-Saharan Africa, respectively (Incekara & Savrul, 2013). A closer look at the numbers and it's easy to say that globalization is not the primary cause of poverty in the developing countries but also factors like weak reforms, low economic policies, and bad governance.

Employment Structure and Globalization

Today, most developing countries' employment structure has changed due to capitalism and globalization (Shane, 2014). Before globalization took place, the primary source of occupation in the developing countries was agriculture (Shane, 2014). However, after the foreign corporations' occurrence, there was a sectorial shift in the labor force that drafted the production of crops in the fields.

Conclusion

Globalization has many benefits and gains, but because of a few influencing factors, especially the structure and nature of the developing nations and how they are also affected negatively despite the advantages. While the impact challenges the developing countries, every nation needed economic development and growth. To end this, everyone must understand that globalization has formulated rational reforms and policies to make nations grow and do business together, thus generating job opportunities and inter-relational connections.

References

Brundenius, C., & Weeks, J. (2011). Globalization and third-world socialism. Globalization and Third-World Socialism, 3-17.
https://doi.org/10.1057/9780333977361_1

Incekara, A., & Savrul, M. (2013). Impact of globalization on entrepreneurship in developing countries. International Conference on Eurasian Economies 2013.
https://doi.org/10.36880/c04.00734

Radetzki, M. (2011). Has political risk scared mineral investment away from the deposits in developing countries? World Development, 10(1), 39-48.
https://doi.org/10.1016/0305-750x(82)90078-x

Rijgersberg, R. W. (2010). Globalization, interdependence, and the internet. Information Technology and Law Series, 49-67.
https://doi.org/10.1007/978-90-6704-653-4_3

Shane, P. M. (2014). Developing authoritarian capitalism: The global capitalist fantasy of authoritarian modernization. Authoritarian Capitalism in the Age of Globalization, 71-98.
https://doi.org/10.4337/9781784713157.00010

Sternin, J. (2014). Positive deviance: A new paradigm for addressing today's problems today. Globalization and Corporate Citizenship: The Alternative Gaze A Collection of Seminal Essays, 9-15. https://doi.org/10.9774/gleaf.9781783535026_3.