Globalization The numerous advances in technology haves resulted in the world becoming a much smaller place than ever before. The ability for goods and/or information to reach a destination anywhere on Earth in a relatively short period of time can be attributed to these technological advances. Additionally, there is increased trade and outsourcing among nations which basically results in these nations working like partners because they are working together in order to better their situation. Globalization has advantages as well as disadvantages.
It is viewed as a cause for increasing problems and also as a way of balancing things with one another. Globalization is all around, can be seen everywhere, and effects everyone. Globalization is a continuous process through which different societies, economies, traditions, and cultures integrate with each other on a global scale. This is made possible through the various means of communication and the interchange of ideas. Globalization goes all the way back to the Silk Road. It ran across central Asia, connecting China and Europe.
Don’t waste your time!
Order your assignment!
The Silk Road made it possible and easier for the exchange of goods between the two which would have been virtually impossible otherwise due to the great distance between them. (Mann) The extreme advances in technology, travel, and telecommunications over the past 30 years are responsible for the recent huge increase in globalization. The period from 1980 through the present is the most remarkable period of globalization to date due, in part, to the elimination of hindering causes which was made possible by the improvement of telecommunications, transportation, and technology.
Some other periods of increased globalization occurred between 1945 and 1980, when there was a huge increase in international trade after World War II and 1870 and 1914, which sparked World War l. There are several advantages of globalization. One is increased free trade between nations which, in turn, increases liquid capital allowing investors in developed countries to invest in other developing countries. Money flows easily across local and national economies which sets the world economy into a virtuous cycle of income and employment growth. Moratoriums) Outsourcing increases resulting in corporations having greater flexibility to operate across borders. Increases in communication, through global mass media, unites the world by allowing critical information to be shared almost immediately between people and businesses worldwide. The vast improvements in travel have made it possible to transport people and goods anywhere in the world quickly and efficiently.
Perhaps one of the most notable advantages is the world-wide awareness of the importance of environmentally protecting the Earth for the future good of all people everywhere. (Nonzero) Globalization is responsible for the efficiencies and opportunities that open rackets create. It allows businesses to communicate efficiently and effectively with their partners, supplies, and customers and manage their supplies, inventories and distribution network better. It allows local producers to sell their products in distant markets with the same ease and speed as in their home country. Moratoriums) it cuts labor costs and increases profits, outsourcing had led to many American corporations, and those in other industrialized and developed countries, to turn to cheap labor in outside countries. Many of these workers are found in China. China as no child labor laws making labor from Chinese workers inexpensive. Work is performed quicker and cheaper and many Jobs are lost to the Chinese. Another disadvantage is when there is a downturn in an economy.
Financial hardship in one economy greatly affects other economies as well since they are intertwined and rely on the sustainability of each other. (Mann) Globalization also brings news risks and uncertainties through the high degree of integration of domestic and local markets, intensification of competition, high degree of imitation, price and profit swings, and equines and product destruction. It causes corporations to face unstable and unpredictable demand which can result in their products becoming commodities and leaving them little or no pricing power. Moratoriums) There are some economists that view globalization as being the cause of the current woes facing the middle class in the United States today. They also put blame on technological change and culture, which are directly related to globalization. (Freehand) The state of New York, for example, has seen both the advantages and disadvantages of globalization. Outsourcing has been responsible for the loss of Jobs in rural areas and the city. Manufacturing has decreased dramatically resulting in fewer Jobs, especially for immigrants. In turn, it makes it harder and harder for people to support their families.
On the other hand, increased improvements in telecommunications and travel have made it possible for businesses to operate in the suburbs where operating costs are lower. (Meghan) The United States has suffered through one of the worst financial crisis the world has been in recent years. Many believe that globalization is responsible because it is expansible for the loss of American Jobs through outsourcing. Outsourcing is a major cause of concern in the United States. While it decreases costs and increases profits, the result is a loss of Jobs.
Jobs that could be held by the American people are being done by those in other countries because labor is cheaper and quicker due to the lack of the strict labor laws in the United States. (Septet) When an economy faces economic and employment decline, there are simultaneous currency devaluations by national and local communities. There is also a rise in trade barriers which can result in trade wars. Today’s global economy is a very intricate and conflicting collection of global markets, national development strategies, and competitive corporate strategies.
Globalization is a past revolution in the economy and cultural diversity. It is the idea of bringing the world together to act as one, huge country. It affects the entire world and all people and the economic status of a country in many ways. It has also weakened the position of poor countries and exposed poor people to harmful competition. (Norris) In order to fully understand the idea of globalization, it is important to understand owe different cultures work. National cultures are related to how a business operates and competes with a market and system.
Traditionally, in international business the term “culture” is defined as national cultures exclusively and has emphasized the who criticize this reference and contend that researching this idea may be difficult to do since it looks to categorize cultures by different dimensions to focus on the international business that goes on within that group. This type of research is too broad with the complex cultures. It assumes that the culture and social structures do to change and disregards the numerous aspects of country. Norris) With all of its disadvantages, globalization is essential in today’s world and for the world’s future. It is the integration of economies and cultures. Globalization gives all countries a fair playing field. It gives countries and people a chance to express their feeling toward a certain subject and/or issue for the world to see and know about and to have something done about it. It is a great opportunity to learn about the workings of different cultures and broaden our horizons. Globalization has been occurring for thousands of years and will continue for thousands more.
It is our responsibility to ensure that the disadvantages are kept at a minimum and that new ways to circumvent globalization disadvantages are explored and implemented. The world no longer seems to be as big as it once was. Globalization is the reason. Works Cited Eggshell, Lynda, “Assisted Suicide Bill Clears its First Hurdle; Doctors in State Could Give Patients Lethal Prescriptions. ” 13 April. 2005. Gale Students Resources in World. ” 01 Mar. 2005; n, page. World Right- to- Die Newsletter. 14 Feb.. 2012. Jack Savoring. ” 2011. Gale Student Resources in Context.