….a strategy of liberalization that contributed toeconomic growth in developed and developing countries. A Presentation by Srijit & Devashish
What is Globalization?Globalization is the process of increased interconnectednessamong countries most notably in the areas ofeconomics, politics, and culture. It is the global distribution of theproduction of goods and services, through reduction of barriersto international trade such as tariffs, export fees, and importquotas.
The Four Aspects of Globalization Globalisation as Globalisation as westernisation or Globalisation as Globalisation as liberalisation: Removingmodernisation: the social universalization: Spreading deterritorialization: government-imposed structures of modernity various objects and reconfiguration of restrictions in order to (capitalism, rationalism, experiences to people at all geography, so that social create an open, borderlessetc.) are spread the world corners of the earth. space is no longer wholly world economyover, normally destroying mapped in terms ofpre-existent cultures and territorial places, territorial local self-determination distances and territorial borders
Is Globalization a good thing? Positive Aspects of Globalization As more money is poured in to developing countries, there is a greater chance for the people in those countries to economically succeed and increase their standard of living. Global competition encourages creativity and innovation and keeps prices for commodities/services in check. Developing countries are able to reap the benefits of current technology without undergoing many of the growing pains associated with development of these technologies. Governments are able to better work together towards common goals now that there is an advantage in cooperation, an improved ability to interact and coordinate, and a global awareness of issues. There is a greater access to foreign culture in the form of movies, music, food, clothing, and more. In short, the world has more choices.
Is Globalization a good thing? Negative Aspects of Globalization Outsourcing, while it provides jobs to a population in one country, takes away those jobs from another country, leaving many without opportunities. Although different cultures from around the world are able to interact, they begin to meld, and the contours and individuality of each begin to fade. There may be a greater chance of disease spreading worldwide, as well as invasive species that could prove devastating in non-native ecosystems. There is little international regulation, an unfortunate fact that could have dire consequences for the safety of people and the environment. Large Western-driven organizations such as the International Monetary Fund and the World Bank make it easy for a developing country to obtain a loan. However, a Western-focus is often applied to a non-Western situation, resulting in failed progress.
Some of the effects of Globalization Brain Drain: Working Conditions: BPO’s: Opportunities in rich In some developing In rich countries, business countries attract skilled countries labor policies process outsourcing has workers from poor provide less protection than been a double-edged sword; countries, leading to brain in developed countries. One it enabled cheaper servicesdrains. For example, nurses example is the use but displaced some service-from poorer countries come of sweatshops by sector jobs. However, in to the US to work. This manufacturers. Clothing lower-cost locations such phenomenon cost Africa makers such as The Gap and as India, the outsourcing over $4.1 billion for the Nike were accused of industry is the primary employment of 150,000 contracting with factories engine of the country’s expatriate professionals that used child labor in development over the next annually. violation of local and US few decades… law.
Some of the effects of Globalization Environmental: Ecological: Health: Environmental challenges The advent of global Starting in Asia, the Black such as climate environmental challenges Death killed at least one- change, cross-boundary that might be solved with third of Europes population water and air pollution and international cooperation in the 14th century. Even over-fishing of the include climate change, worse devastation was ocean, require trans- cross-boundary water and inflicted on the American national/global solutions. air pollution. Since many supercontinent by EuropeanSince factories in developing factories are built in arrivals. 90% of the countries increased global developing countries with populations of theoutput and experienced less less environmental civilizations of the "New environmental regulation, globalism and World" such as the Aztec & regulation, globalism free trade may increase Maya were killed by small substantially increased pollution and impact on pox brought by European pollution. precious fresh water. colonization.
Globalization in IndiaIndia had the distinction of being the worlds largest economy inthe beginning of the Christian era, as it accounted for about32.9% share of world GDP# and about 32.5% of the worldpopulation. The goods produced in India had long been exportedto far off destinations across the world. Therefore, the concept ofglobalization is hardly new to India. #GDP: Gross domestic product (GDP) refers to the market value of all final goods and services produced within a country in a given period. GDP per capita is often considered an indicator of a countrys standard of living.
ConclusionAs globalization has progressed, living conditions (particularlywhen measured by indicators of well being) have improved significantly in virtually all countries. However, the strongest gains have been made by the advanced countries and only some of the countries of the developing countries.The fact that the income gap between high-income and low- income has grown wider is a matter for concern. And the number of the world’s citizens in abject poverty is deeply disturbing.
Closing Remarks The international community should endeavor—by strengthening the international financial system, through trade and through aid—to help the poorest countriesintegrate into the world economy, grow more rapidly, and reduce poverty.