1.
Introduction
“The
integration of states through increasing contact, communication, and trade, as
well as increased global awareness of such integration is known as Globalization”
(World Politics Trend and Transformation of Charles William Kegley). It is
a multifaceted phenomenon, encompassing a variety of often interrelated actions.
The world has become global village (A popular cosmopolitan perspective
describing the growth of awareness that all people share a common fate because the
world is becoming an integrated and interdependent whole: World Politics Trend
and Transformation of Charles William Kegley) in which trade is also
inextricably linked to two other important aspects of globalization: the
globalization of production and the globalization of labor. Understanding these
components of globalization, as well as their relationship with trade, is
important to understanding the complex world economy.
2.
Factors Leading To Globalization
i.
Internationalization
of trade and emergence of multinational corporation and their interest in
finding new markets
ii.
Fastest
growing population of the world and their increasing needs
iii.
Development
of fastest means of communication like satellite, ship, railways, airways,
motorways vehicles etc.
iv.
Advancement
in science and technology
v.
Investment
of countries in research and development and finding new horizon from nature
3.
Advantages Of Globalization
i.
Social and cultural
i.
Decrease
in poverty due to increase in employment opportunities of multinational corporations
through foreign direct investment
ii.
Improve
in living standards of human beings
iii.
Discourage
the negative evils and decrease in many social phobias
iv.
Women
empowerment and their role has been changed that is shifting from domestic to
market oriented economy and national development
v.
Increase
in international communication among states and nationalities which resulted into
cultural exchange, cultural diffusion in values, norms, infrastructure development
and interfaith and intercultural harmony and tolerance
vi.
Removal
of many psychological barriers which were the cause of social disintegration
previously
vii.
Accessibility
of information and cure of about all social
evils and issues became easier which resulted into social development
viii.
Development
of cultural due to increase in communication among same cultural persons and
exchanging their values throughout the globe.
ii.
Political
i.
Freedom
of speech and expression due to fastest means of communication which resulted
into sharing of ideas, thought and democratic values among citizens of the
world community which ultimately develop the international and nations
political system.
ii.
Discourage
the elements of autocracy, dictatorship or all forms of monarchy due to
democracy and liberation
iii.
Due to
enhancement in awareness among citizens and accountability of leaders in front
of public, more mature, competent, and qualified leadership would emerge
iv.
Removal
of misconception, misinformation, misinformation and fake propaganda amongst
states due to complex interdependencies and global internet communication network.
v.
Improvement
in international communication resulted into diplomatic success and removal of
inter and intrastate conflicts
iii.
Economic
i.
Due to
advancement in science and technology mechanization of economy becomes
possible. More technological advanced machinery are developed. Innovative products
are generated. Quality and quantity of products are increased. Low cost of production
leads to higher profits. That ultimately leads to social and national
development.
ii.
More
business opportunities at international markets due to foreign direct
investment of internationalization of trade and commerce
iii.
More
qualitative and customers oriented products are generated due to increase in
competition among companies and availability of options for customers.
4.
Disadvantages Of Globalization
i.
Social and cultural
i.
Destruction
of multicultural beauty of world and propagation of unified western cultural
values at global level particularly least develop and poor countries are
affected a lot and developing countries too need these values for development.
ii.
Increase
in social and psychological problems because survival of the fittest war is
going on all over the world. People forget moral, ethical and social values of humanity
that resulted intra religion conflicts or social war on civilization consciousness.
iii.
Liberal
vs traditional local cultural conflicts are increasing
iv.
Due to
mechanization of economy unemployment, child labor, and poverty is increasing. The
individual talent of a person is discouraged due to systematic hierarchy of production.
v.
Environmental
degradation, climatic change, global warming and pollution of water, air,
noise, land has become possible due to deforestation for industries and
transportation and electrification.
ii.
Political
i.
Due to
their high investment and finance of multinational corporations, these
companies are interfering in the internal and external affairs of the state which
resulted into declining the writ of the state and sovereignty of individual a
country.
ii.
There
are more chances of corruption and white collar crimes which become a challenge
for government administration. Even the involvement of many government
officials in the favor of these capabilities are found in many parts of the
world
iii.
More
propaganda campaign has been emerged against the government who challenge the
interest of these companies which some time leads to topple the government.
iv.
Due to
dominance of western economic liberal values, the spirit of nationalism,
patriotism and ideology has been damaged a lot.
v.
Inter
and intra state conflicts are increase in the world and even become more
dangerous due to easily availability of weapons. This may lead to unending
weapon race among the states and sometimes such conflicts are ignited by getting
more benefits from selling weapons.
iii.
Economic
i.
Destruction
of small and medium enterprises and local business due to foreign direct investment
and influence of multinational conrporations
ii.
Dependency
of economy of state on foreign investments, brands, MNCs and their policies
that mostly favors these companies not
to the state mostly.
iii.
Depletion
of natural resources due to over
production and over utilization of these resources
iv.
Terms
and conditions of these companies to do business in country strictly damage the
economy of that country.
5.
Strategies for Nation States to Overcome the Threats of
Globalization or to Convert Threats into Opportunities
i.
Encourage
the small and medium enterprises and local businesses by
i.
Tax relaxation
ii.
Decrease
import of foreign brands
iii.
Provide
subsidies in the shape of electricity, gas, land, water, and other factors of
production
iv.
Increase
the spirit of nationalism among citizens by promoting national brands and
discourage the brand consciousness attitude of foreign goods.
v.
Facilitate
local businessmen in investment opportunity and security of their investments.
ii.
Promote
and develop the service industry or tertiary sectors of economy
i.
Investment
in research and development in every field of life which resulted into
innovative technology.
ii.
Promote and develop the tourism in country by
providing security to tourist resorts and tourists.
iii.
Enhance
the image of the country by developing soft power elements for development
iv.
Develop
banking system, insurance industry, education sector, and trading business in country
iii.
Promote
and develop your own culture, history and tradition in highly positive manner
so that foreigners get benefits too
iv.
Encourage
the participation of both the genders in economic and national development
v.
Maximize
the free trade agreements with other states and liberalize the economy
vi.
Competent,
honest, and visionary leadership
vii.
Improve
the soft image of state by
i.
Engaging
the talents into international forum and competitions
ii.
Increase
cultural festivals, national and international sports events
iii.
Media
must play its positive role in promoting the soft image
iv.
Crush
the elements of corruption with iron hands so that investors get confidence
6.
Is Globalization A Cure Or Curse?
Critics often claim that globalization is westernization or Mcdonldization.
It is New form of colonization in which people are independent and represented by
name only. Their social, cultural, economical, and political even foreign
relationships are monitored and controlled by super powers or these multinational
corporations. Similarly forecasting leadership who convert these challenges
into opportunities matters a lot. Asian tigers nations are moderate and
developed but not westernized. They are advance in science and technology but didn’t
become western. Similarly the perception of state matters a lot that how to
perceive globalization but the ratio of such nations are negligible. Globalization
is a “double-edged. sword” But the bitter fact is that globalization benefitted
only to the nations who are already at top level of science, technology, mechanization
of industry, culturally and social mature, and who have multinational corporations
7.
Conclusion
. We must ensure that the global market is embedded in broadly
shared values and
practices that reflect global social needs, and that all the
world’s people share the benefits of globalization.
—Kofi Annan, former secretary-general of the United Nations
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