The Pros and Cons of Globalization Essays - 1584 Words

1. Introduction The current integrated and interdependent world economy is the outcome of the process of Globalization. Various definitions of Globalization are available. As per Block (2004), in his research paper, has defined globalization as â€Å"Intensification of world-wide social relationships which link distant localities in such a way that local happenings are shaped by distant events and, in turn, distant events are shaped by local happenings.† The IMF (2008) claims that globalization is a result of advancement in technologies and modernization of the people. It is the result of growing incorporation of economies in the world, predominantly through the movement of labor, technology, knowledge, services, merchandise and investments†¦show more content†¦The second part Zhu (2009) has mentioned is about the globalizations of productions. This strategy is focused on cost saving concept. Here the organisation outsources the production and services typically from a location outs ide the parent country to take advantage of national differences in cost and quality. This is mainly due to availability of cheap labor, land, energy, high quality and less capital to invest on sourcing process. For example Boeing 777, leading commercial airline jet producer has eight suppliers in Japan, one in Singapore, three suppliers in Italy and so on. The effects of globalization have both advantages and disadvantages. The next section will describe few benefits and issues faced by the world due to globalization. 2. Advantages of globalization More economic opportunity for poor or developing countries: The world trade has taken a major shift in recent past with more developing countries coming into the front lane of trade. The United States of America which was leading the world’s economic activity by 40.3 percent of total Gross Domestic Product (GDP) in 1963 has declined its share to 19.7 percent in 2006, but still leading the world’s trade market (Zhu, 2009). The scenario is identical for other developed countries such as Germany, Japan, France and United Kingdom. This was apparently due to the faster economic growth by the countries particularly from Asia and South America. This phenomenon can beShow MoreRelatedPros and Cons of Globalization873 Words   |  4 PagesThe Pros People have been on the move, traded, migrated and colonized in the earlier times; while in the process they transformed both places that they traveled to and the places that they came from. The pro-globalization people say that it is not just good for the rich but it’s good for the poor, because back in the 1990’s, when globalization took off, about 200 million people got out of poverty in places like India and China. Globalization is the process by which economies of countries aroundRead MorePros and Cons of Globalization2741 Words   |  11 PagesPros and cons of globalization Department: International Management Lecturer: Prof. Dr. Henkel and Prof. Dr. Perlitz Name: Shi Zhun Student ID: 1223396 Date: 29/Oct/2008 Table of Contents Page Number 1. Summary...†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...3 2. Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦4 3. The definition of globalization†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...........4 4. Economic growth (pros and cons)†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..5 5. Worker (pros and cons)†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..7 6. Consumer (pros andRead MoreAnalysis of the Pros and Cons of Globalization1212 Words   |  5 PagesGlobalization Introduction The continued accelerating pace of change in globalization is forcing an entirely new level of emphasis on individualized, highly targeted marketing across the many regions and countries of the world. Global marketing today must contend with a wider array of constraints, both economic and cultural, that as ever been the case in the past (Gupta, 2003). These constraints fuel a high level of creativity and focus on how to overcome cultural and economic constraints throughRead MoreThe Pros And Cons Of Globalization803 Words   |  4 PagesThe term ‘globalisation’ is commonly used to describe a modernisation and capitalist expansion, that entails a variety of economic, cultural, social and political changes over the past 50 years, that have shaped the world today (Guttal, 2007, pp. 524). An important aspect of this concept, is the rapid increase in transnational movements of goods and services, and the weakening notion of national and geo-political borders. Not only has glo balisation created economic prosperity but also a large flowRead MoreThe Pros and Cons of Globalization Essays1386 Words   |  6 Pagesspread of cultures, trade, information and creating options, Globalization can be highly beneficial to everyone by bestowing great fortunes on us. This essay will highlight the positive and negative effects of globalisation, but also discuss solutions and evaluate them. Economists have used the term globalization since the 1980’s, although it was used in social sciences in the 1960’s. However, the principles and ideas of globalization have not spread to the twentieth century. Globalisation isRead MoreGlobalization, Pros and Cons for Developing Countries938 Words   |  4 Pagesterm â€Å"Globalization† for developing countries. Some social, economic and environmental issues are discussed in the paper. This Document addresses the advantages and disadvantages of the term â€Å"Globalization† for developing countries. Some social, economic and environmental issues are discussed in the paper. Hosein Rahmati Hosein Rahmati Globalization, Pros And Cons For Developing Countries January 2012 Globalization, Pros And Cons For Developing Countries January 2012 Globalization couldRead MoreThe Pros and Cons of Globalization Essay987 Words   |  4 Pages Globalization is the process by which states become interdependent on each other on all spheres of life. It is a process where countries go global by adapting universal characteristics involving human race. It is therefore the process of uniting people of the world into one unit with universal characteristics. This characteristics include; systems of education, politics, democracy, economy among many others. Through globalization economies, civilizations and societies become integrated into a globalisedRead MoreThe Pros and Cons of Globalization Essay1680 Words   |  7 PagesGlobalization. Everyday you hear it on the news, you read it in the newspaper, and you overhear people talking about it- and in every single instance the word globalization seems to have a different meaning. When I hear of globalization I think of the whole world coming close together in all phases. I tend to think that we as human beings are breaking down barriers that have been protected or guarded. For insta nce, I initially thought of the progress we are making in the communication aspect. SoRead MoreEssay on The Pros and Cons of Globalization900 Words   |  4 PagesGlobalization can be defined as the system of interaction among the countries of the world in order to develop the global economy. It also refers to the integration of economics and societies all over the world (http://hotbabefatchicks.hubpages.com/hub/Definition-of-Globalization). Globalization can be both advantageous and detrimental to developing countries. Some of its advantages are increased external finance, improved technology and political conformism. Disadvantages of globalization includeRead MoreThe Pros and Cons of Globalization Essay963 Words   |  4 Pages It is debated whether globalization is an advantage or disadvantage to our society. Everyday you hear it on the news, you read it in the newspaper, and you overhear people talking about it and in every single instance the word globalization seems to have a different meaning. Globalization is the process by which a business or company becomes international or starts to operate on an international level such like the rise of the so-called global economy. It can also bring the world closer through