GLOBALIZATION (MERITS AND DEMERITS)

Globalization (Merits And Demerits)

Globalization (Merits And Demerits)

Thesis Statement

For China, globalization is often seen as a double-edged sword that brings both opportunities and challenges but United States of America is seriously and increasingly falling behind when competing economically in the global market

Introduction

Globalization is the process by which the economies of countries around the world become increasingly integrated over time. This integration occurs as technological advances expedite the trade of goods and services, the flow of capital, and the migration of people across international borders. The term has been used in this context since the 1980s, when computer technology first began making it easier and faster to conduct business internationally. (Henry, 2000, pp 125-26) Globalization can also refer to the efforts of businesses to expand their operations to new countries and markets.

However, proponents of globalization may argue that it has provided people with all the tools necessary for connecting people - the internet, mobile phones, the media etc. (Richard, 2006, Pp. 11-17) It has therefore made it easier for bonds to be forger among people with international networking and the sharing of ideas between nations and people. Technically, globalization has connected the world, making it easier for people, societies and countries to communicate with each other.

Cons and Pros of Globalization

Yet one has to realize that while technology advances, people, and human nature remains stagnant and unchanging. Human traits like greed, selfishness and dishonesty still exist. Differing opinions and beliefs still exist. People still continue to make decisions for their own benefit, without the consideration of other people. (Smith and Baylis, 2007, Pp 53-54) Therefore, in bringing people closer together, or connecting them superficially, globalization at the same time, connects these undesirable human traits, these contrasting views and convictions and these often conflicting goals and aims. (William, 2003, P.34)Therefore, it is inevitable that globalization tends to distance people instead of connecting them.

Merits

Economically, spreads jobs and employment to countries with high unemployment due to lack of economic development. This helps poorer countries develop economies they might not otherwise be able to develop. It brings the cost of products down by bring the cost of labor down by having people with lower income needs, hence lower salary needs than people in more developed countries. (Henry, 2000, pp 125-26) Politically, it brings more nations into the decision-making process on international issues. This probably leads to better understanding of philosophies by people of different cultures.

Demerit

It puts people in developed countries out of work because they have higher income, hence higher salary needs and cannot compete with others in other countries. This creates higher unemployment that government taxes might have to help out. This harms the economies of more developed countries bringing down standards of living. (Berberoghlu, 2008, Pp 79-80) Politically, it could force nations to take actions that are not in their best interests for the benefit of other nations, thereby depriving a measure of sovereignty that individual countries expect.

Arguments

For China, globalization is often seen as a double-edged sword that brings opportunities ...