what are the pros and cons of globalization essay

Globalization: The Pros and Cons Essay

There are multiple arguments for and against globalization, each referring to the difference in the impact it has on the economy of individual state and their societies. For example, Collins (2015) states that globalization improves access to goods and services for people. This is especially beneficial for people who live in developing states as they can access better quality products and services, as well as innovations.

However, globalization also affects the global supply chains and has substantial negative effects. Workers may lose their jobs to nations with inexpensive labor (Collins, 2015). The first objection to globalization is the one that comes up most often when NAFTA and other trade agreements are discussed in American politics. When the United States competes with less developed nations, its biggest advantage is its access to capital, while its biggest advantage is its access to inexpensive labor.

According to the cultural globalization hypothesis, a global culture causes the human experience to become more uniform. For instance, historically, various cultures had several calendars that were based on various factors, including solar, lunar, and others (Collins, 2015). Previously, different cultures had different concepts of time, but today, everyone adheres to the same calendars and time standards. Similar to how different units are now used to measure length, mass, and volume. Hence, cultural globalization benefits the development of nations and allows human experiences to be more uniform.

The article “A Mickey Mouse Approach to Globalization” allows one to see whether globalization will result in the formation of a monoculture or not. From the perspective of food, Outlook Web Desk (2022) states that when comparing BigMacs in China and America, the taste of the food is identical. However, the experience of the people is different, despite the globalization of the food culture. Thus, although globalization has made many things similar, such as foods, the native cultures of different nations still affect the experiences they have.

Collins, M. (2015). The pros and cons of globalization . Forbes . Web.

Outlook Web Desk. (2022). A Mickey Mouse approach to globalization . Web.

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An economist explains the pros and cons of globalization

Piling up: Global trade has increased, but has it been a positive or negative force? Image:  REUTERS/Tyrone Siu

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Every industrial revolution has driven a wave of globalization. The first wave was driven by innovations such as the steam engine and the industrial weaving machine; the second by the assembly line, the car and the plane; and the third by the digital revolution.

As we enter the fourth wave of globalization, driven by the digital revolution, there is renewed debate over whether it is a beneficial force: powering economic growth, and allowing the spread of ideas to improve people’s lives; or whether it erodes communities, and widens the gap between the elites and the rest of the world.

Globalization results in increased trade and lower prices. It heightens competition within domestic product, capital, and labour markets, as well as among countries adopting different trade and investment strategies.

But how do these impacts net out? What are the positive and negative effects of globalization? The below is an edited transcript of a conversation with Gita Gopinath, Chief Economist of the International Monetary Fund (IMF).

Overall, what are the advantages of globalization?

The advantages of globalization are actually much like the advantages of technological improvement. They have very similar effects: they raise output in countries, raise productivity, create more jobs, raise wages, and lower prices of products in the world economy.

What might be the advantages of globalization that someone would feel in their day-to-day life?

I think something that's not sufficiently appreciated about, for instance, international trade is that it reduces the prices of goods that they consume. So if you look at day-to-day things that you purchase, in terms of washing machines, or cars, or even clothing, because of international trade we've had a decline in prices of these goods, so they have become far more affordable for a lot of people in the world.

How have the benefits played out in advanced economies versus poorer ones over the last three decades?

Both advanced economies and developing economies have benefited overall in terms of having higher productivity, more job creation, and higher wages. As we've always known, and this is true again with technology, there are always some winners and losers. So there are communities and there are workers who lose out when there is more trade integration. That is what we're seeing right now in terms of discontent with international trade.

Who have been the biggest losers?

The biggest losers from international trade are always those whose skills have a cheaper competitor in a different market. So, in the case of the US, it's been those who work in the manufacturing sector because jobs in the manufacturing sector have been outsourced to countries where labour is far cheaper.

On the other hand, in developing countries, more capital-intensive goods get imported more cheaply from the outside. So if you're a manufacturer of a capital-intensive good in a developing country you tend to lose because of that competition.

This is how it is with international trade: production goes to wherever it is most efficient to produce. So, when people in any country are exposed to this kind of competition, some win and some lose.

Is it possible as an economist to come up with a verdict? Has this wave of globalized trade been a net positive or a net negative?

If you say, I'm going to look at it from a measure of overall effect on a country's income, on its purchasing power, on the prices that its people pay, overall I think the evidence that we have all points to it being a net positive.

Now, if you frame the question as, has international trade been good for the manufacturing worker in the US? Then the answer to that would be “not fully”; it's been very costly in terms of jobs and wages for them.

How optimistic are you that this next wave of globalization offers a better future?

I would make a couple of points. First, the previous waves of globalization have been quite successful in lifting a large number of people out of poverty and so we should appreciate that.

The second thing is that any form of globalization will generate winners and losers. So even if you have the perfect, most optimal international trade agreements, there will always be those who lose out because of competition, in the exact same way that people lose out whenever there's a new technology being developed.

And so if we want to make sure that the next wave of globalization is even more successful, it has to be complemented with good, sound domestic policies that help those who are getting left out.

How optimistic are you that the trade war between the US and China will be swiftly resolved?

It's absolutely essential that it be resolved, and it gets resolved in a way that's long lasting. The world economy has lived with the uncertainty about trade tensions for a while now and if there is any solution and there is a sense that the solution is only transitory and something can again get triggered in the future, I think that's very costly.

I'd say I'm mildly optimistic because I think leaders in the world are recognizing that these trade tensions are having a negative effect on their economies and so it would make sense to sit down and resolve it.

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6 Pros and Cons of Globalization in Business to Consider

• 01 Apr 2021

Throughout history, commerce and business have been limited by certain geographic constraints. In its earliest days, trade happened between neighboring tribes and city-states. As humans domesticated the horse and other animals, the distances they could travel to trade increased. These distances increased further with the development of seafaring capabilities.

Although humans have been using ships for centuries to transport goods, cargo, people, and ideas around the world, it wasn’t until the development of the airplane that the blueprint of a “globalized economy” was laid. This was for a simple reason: You can travel greater distances faster than ever before.

The development of the internet accelerated this process even more, making it easier to communicate and collaborate with others. Today, your international co-worker, business partner, customer, or friend is only a few taps or clicks away.

Globalization has had numerous effects—both positive and negative—on business and society at large. Here’s an overview of the pros and cons of globalization in business.

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What Is Globalization?

Globalization is the increased flow of goods, services, capital, people, and ideas across international boundaries according to the online course Global Business , taught by Harvard Business School Professor Forest Reinhardt.

“We live in an age of globalization,” Reinhardt says in Global Business . “That is, national economies are even more tightly connected with one another than ever before.”

How Globalization Affects Daily Life

Globalization has had a significant impact on various aspects of daily life.

For example, it’s changed the way consumers shop for products and services. Today, 70 percent of Americans shop online. In 2022, there were 268 million digital buyers in the US and by 2025, this number is predicted to reach 285 million.

In addition, the globalized economy has opened up new job markets by making it more feasible to hire overseas workers. This has created a wide range of career opportunities for both job seekers and employers.

The emergence of remote work post-pandemic was also made possible by globalization. According to a survey from WFH Research , only seven percent of paid workdays in the US were remote in 2019. However, this number climbed to 29 percent by January 2024.

Check out the video below to learn more about globalization, and subscribe to our YouTube channel for more explainer content!

Advantages of Globalization

1. economic growth.

It’s widely believed that one of the benefits of globalization is greater economic growth for all parties. There are several reasons why this might be the case, including:

• Access to labor: Globalization gives all nations access to a wider labor pool. Developing nations with a shortage of knowledge workers might, for example, “import” labor to kickstart industry. Wealthier nations, on the other hand, might outsource low-skill work to developing nations with a lower cost of living to reduce the cost of goods sold and pass those savings on to the customer.
• Access to jobs: This point is directly related to labor. Through globalization, developing nations often gain access to jobs in the form of work that’s been outsourced by wealthier nations. While there are potential pitfalls to this (see “Disproportionate Growth” below), this work can significantly contribute to the local economy.
• Access to resources: One of the primary reasons nations trade is to gain access to resources they otherwise wouldn’t have. Without this flow of resources across borders, many modern luxuries would be impossible to manufacture or produce. Smartphones, for example, are dependent on rare earth metals found in limited areas around the world.
• The ability for nations to “specialize”: Global and regional cooperation allow nations to heavily lean into their economic strengths, knowing they can trade products for other resources. An example is a tropical nation that specializes in exporting a certain fruit. It’s been shown that when nations specialize in the production of goods or services in which they have an advantage, trade benefits both parties.

2. Increased Global Cooperation

For a globalized economy to exist, nations must be willing to put their differences aside and work together. Therefore, increased globalization has been linked to a reduction—though not an elimination—of conflict.

“Of course, as long as there have been nations, they've been connected with each other through the exchange of lethal force—through war and conquest—and this threat has never gone away,” Reinhardt says in Global Business . “The conventional wisdom has been that the increased intensity of these other flows—goods, services, capital, people, and so on—have reduced the probability that the world's nations will fall back into the catastrophe of war.”

3. Increased Cross-Border Investment

According to the course Global Business , globalization has led to an increase in cross-border investment. At the macroeconomic level, this international investment has been shown to enhance welfare on both sides of the equation.

The country that’s the source of the capital benefits because it can often earn a higher return abroad than domestically. The country that receives the inflow of capital benefits because that capital contributes to investment and, therefore, to productivity. Foreign investment also often comes with, or in the form of, technology, know-how, or access to distribution channels that can help the recipient nation.

Disadvantages of Globalization

1. increased competition.

When viewed as a whole, global free trade is beneficial to the entire system. Individual companies, organizations, and workers can be disadvantaged, however, by global competition. This is similar to how these parties might be disadvantaged by domestic competition: The pool has simply widened.

With this in mind, some firms, industries, and citizens may elect governments to pursue protectionist policies designed to buffer domestic firms or workers from foreign competition. Protectionism often takes the form of tariffs, quotas, or non-tariff barriers, such as quality or sanitation requirements that make it more difficult for a competing nation or business to justify doing business in the country. These efforts can often be detrimental to the overall economic performance of both parties.

“Although we live in an age of globalization, we also seem to be living in an age of anti-globalization,” Reinhardt says in Global Business . “Dissatisfaction with the results of freer trade, concern about foreign investment, and polarized views about immigration all seem to be playing important roles in rich-country politics in the United States and Europe. The threats in Western democracy to the post-war globalist consensus have never been stronger.”

2. Disproportionate Growth

Another issue of globalization is that it can introduce disproportionate growth both between and within nations. These effects must be carefully managed economically and morally.

Within countries, globalization often has the effect of increasing immigration. Macroeconomically, immigration increases gross domestic product (GDP), which can be an economic boon to the recipient nation. Immigration may, however, reduce GDP per capita in the short run if immigrants’ income is lower than the average income of those already living in the country.

Additionally, as with competition, immigration can benefit the country as a whole while imposing costs on people who may want their government to restrict immigration to protect them from those costs. These sentiments are often tied to and motivated—at least in part—by racism and xenophobia.

“Meanwhile, outside the rich world, hundreds of millions of people remain mired in poverty,” Reinhardt says in Global Business. “We don't seem to be able to agree about whether this is because of too much globalization or not enough.”

3. Environmental Concerns

Increased globalization has been linked to various environmental challenges, many of which are serious, including:

• Deforestation and loss of biodiversity caused by economic specialization and infrastructure development
• Greenhouse gas emissions and other forms of pollution caused by increased transportation of goods
• The introduction of potentially invasive species into new environments

While such issues are governed by existing or proposed laws and regulations, businesses have made climate change concerns and sustainability a priority by, for example, embracing the tenets of the triple bottom line and the idea of corporate social responsibility .

Managing the Risks of Globalization

The world is never going to abandon globalization. While it’s true that individual countries and regions put policies and practices in place that limit globalization, such as tariffs, it’s here to stay. The good news is that businesses and professionals willing to prepare for globalization’s challenges by developing strong social impact skills have the potential to benefit immensely.

Whether you’re a business owner, member of executive leadership, or an employee, understanding the impacts of globalization and how to identify its opportunities and risks can help you become more effective in your role and drive value for your organization.

Taking a course like Global Business is one path toward developing international business skills and gaining an understanding of the macroeconomic, political , and social conditions that continue to impact globalization.

Are you interested in breaking into a global market? Sharpen your knowledge of the international business world with Global Business , one of our online business in society courses . If you aren't sure which course is the right fit, download our free course flowchart .

This post was updated on February 26, 2024. It was originally published on April 15, 2021.

About the Author

Economic Globalization – Pros and Cons (with Examples)

Economic globalization is one of 8 types of globalization . It refers to the ways in which global economies have become integrated through growing business, trade and financial interdependence.

Elements of economic globalization include:

• Rise of Multinational Corporations
• Movement of Manufacturing Industries to Developing Nations
• Growth of Financial Hub Cities in Developed Nations

While we usually refer to modern examples of economic globalization (as it is more extreme than ever), the globalization of our economies has been going on for centuries. An example of this is the rise of the tea trade from India to England facilitated by the East India Company that was founded in 1600.

There have been both positive and negative effects of the economic integration of the world’s economies. A positive is increased prosperity of the world overall. A negative is the widening gap between the rich and poor.

Economic Globalization

Definition & simple explanation.

Economic globalization is the element of globalization concerned with how our economies have become increasingly interconnected. As our world has become more interconnected (thanks to faster movement of goods and people as well as high-speed telecommunications), businesses have made the most of this to engage in cross-border commerce.

Economic integration includes the integration of:

• Goods – Including the production and sale of products and their parts across international borders.
• Services – Including increased movement of labor and the growth of international service providers such as call centers moving overseas.

This integration sped up toward the second half of the 20 th Century and its growth continues to this day.

Examples of Economic Globalization

Examples include:

1. Rise of Multinational Corporations Multinational corporations include Coca-Cola, McDonalds, Amazon and Google. Globalization of economies has often allowed multinational corporations to move to offshore tax havens and low-tax nations to minimize their tax responsibilities to society.

Multinational corporations have existed for centuries. The East India Company, for example, (established in 1600) used to trade teas and spices from Asia to Europe.

However, it has become increasingly easy for corporations to conduct international business thanks to tax treaties to help corporations avoid double taxation, free trade agreements such as NAFTA, and faster movement of goods and services.

Related Concept: McDonaldization

2. Internationalization of Capital Markets The growing ease with which companies (and individuals) can move money overseas has led to international capital markets. In short, this means companies overseas can fund businesses all around the world. This was labelled by Arjun Appadurai as ‘financescapes’.

Now, an entrepreneur can get cheap low-repayment funding from overseas to set up a business venture. Similarly, overseas buyers can flood a real estate market to buy up houses in international cities like Vancouver BC or Melbourne Australia. This can inflate housing prices for locals.

Similarly, Chinese industries have been quite aggressive in buying up farming land and industries around the world – which has led to some backlash from locals who feel as if local land should be owned by local people.

3. Movement of Manufacturing Overseas The past few decades have seen massive closing-down of manufacturing industries in developed nations. Those industries have been moved offshore, such as to Mexico, Vietnam and China, where labor regulations are sometimes less stringent and wages are lower.

Now, if you look at the label on your clothing or electronics, you’ll often see a “Made in China” label.

This has allowed us to get cheaper goods, but has led to backlash from activists who have seen entire industries for blue collar workers collapse in developed nations. Some could also claim the quality of the goods may be affected if manufactured in countries with lower quality standards.

4. Internationally Mobile Labor Forces White collar jobs in finance, engineering and related industries have benefited from globalisation. Those with in-demand skills can find work across the world before even stepping on an airplane and travel internationally for 12- to 36- month stints to conduct work overseas.

This concept of migration for work is not new. New world nations like the United States are built on movement of people seeking economic mobility. The major recent change has been the speed and ease with which this movement can happen for those with in-demand skills.

5. Rise of ‘Hub’ Cities As the globe’s economies have become increasingly intertwined, nations have developed expertise in specific industries. This is known as the development of ‘economies of scale’ and leads to improved productivity.

One consequence of this is that there are now hub cities around the world focused on particular industries. London is known as a finance hub, Los Angeles for technology (see also: technological globalization ), and Seattle for aviation.

6. Worldwide Booms and Busts A globalized economy means that each economy around the world is dependant on the success of others. Thus, a recession in one nation may have a flow-on effect and cause a recession in others. The Great Depression and the Global Financial Crisis are two examples where economic problems in one part of the world (such as the United States) can lead to economic woes all around the world.

Advantages of Economic Globalization

1. Cheaper Goods Multinational corporations can move their manufacturing industries overseas to nations where the cost of production is low.

2. Economies of Scale (Efficiency) Larger (multi-national) corporations can produce products in bulk. This can create economies of scale, which means the cost of goods goes down as the number of goods you produce goes up. For example, Wal-Mart can often get goods to market a lot cheaper than your local corner store.

3. Increased Prosperity Proponents of globalization say that it has increased overall prosperity in the world. When manufacturing industries move overseas, those people in those developing nations get jobs and can be lifted out of relative poverty, while people in the developed world get cheaper goods. This is the ‘rising tide lifts all boats’ argument. Critics disagree – and that’s discussed in the ‘disadvantages’ section below.

4. Cheap Money Entrepreneurs can get financed from international financiers (such as Chinese investors) at low interest rates. The large pool of potential investors in a global market means you can seek out very cheap money. It forces downward pressure on interest rates and makes it easier for you to borrow money to start a business.

Disadvantages of Economic Globalization

1. Loss of Manufacturing Jobs in Developed Nations Globalization inevitably leads to the movement of industries to achieve economies of scale. Manufacturing industries have been the biggest losers in recent decades. The NAFTA agreement, for example, led many US-based manufacturers to relocate to Mexico.

Widespread political backlash to loss of protected industries is evident around the world. Detractors argue for a return to nationalist and protectionist policies. One prime example is Brexit – the exit of the UK from the European Union – which was in part due to the loss of the fishing industry during the UK’s participation in the EU trade bloc.

> See Also: Political Globalization

2. Exploitation of Developing Nations Goods are cheaper to produce in developing nations because they often have lower wages and worker protections. The cheap goods that come out the other end – and end up on our doorstep – are often produced in sweatshops for extremely low wages with few days off, rest breaks, or safety standards.

Here, there is a debate between the fact developing nations are asking for these jobs (the countries often have high unemployment) and the fact we have to be responsible consumers who don’t exploit nations that do not have worker protections.

3. International Interdependence Critics of globalization say that it’s led nations to be overly dependent on international supply chains. This was evident, for example, during the Covid-19 pandemic, when many developed nations were unable to produce vaccines. All their vaccine production facilities had moved overseas for cheaper labor.

Similarly, during war time, all nations need to be able to produce food and weapons within the nation to sustain them throughout the war. Many nations are unlikely to be able to do this today.

4. Tax Evasion The internationalization of the economy has allowed many companies to move offshore to avoid taxes. Some smaller nations the need tax revenue offer low-tax incentives for large corporations to move to their low-tax nations. Larger nations try to match these tax decreases, creating a global ‘race to the bottom’. The net effect of this is to lower corporate tax rates worldwide, leaving nations with less tax revenue to spend on social services.

5. Climate Change and Environmental Impacts An international economy could have significant bad effects on the environment. Goods have much greater distance to move, leading to greater carbon footprints for products. Some may also argue that products are also lower quality, meaning they get trashed sooner – leading to greater amounts of landfill. Lastly, multinational companies can avoid environmental responsibilities by operating in nations with relaxed environmental laws – again leading to ecological damage.

Related: Cultural Globalization Pros and Cons

Economic globalization has been occurring for centuries, but has grown significantly in recent years thanks to trade liberalization and increasing speed of communication and travel. We now live in an integrated global economy that is heavily interdependent.

There are some great advantages of economic globalization such as cheaper goods, economies of scale, and the spread of valuable consumer goods around the world. But there are also some significant downsides also, such as potential for exploitation of labor in developing nations and the loss of working-class jobs in developed nations.

Cavanagh, J. (2004). Alternatives to economic globalization: A better world is possible . New York: Berrett-Koehler Publishers.

Gallagher, K. P. (2009). Economic globalization and the environment.  Annual Review of Environment and Resources ,  34 , 279-304.

Sachs, J. D. (2020).  The Ages of Globalization: Geography, Technology, and Institutions . United States: Columbia University Press.

Sen, S., & Barry, C. M. (2020). Economic globalization and the economic policy positions of parties .  Party Politics ,  26 (2), 154-164.

Steger, M. B. (2017).  Globalization: A very short introduction  (Vol. 86). England: Oxford University Press.

Ying, Y. H., Chang, K., & Lee, C. H. (2014). The impact of globalization on economic growth .  Romanian Journal of Economic Forecasting ,  17 (2), 25-34.

Chris Drew (PhD)

Dr. Chris Drew is the founder of the Helpful Professor. He holds a PhD in education and has published over 20 articles in scholarly journals. He is the former editor of the Journal of Learning Development in Higher Education. [Image Descriptor: Photo of Chris]

• Chris Drew (PhD) https://helpfulprofessor.com/author/chris-drew-phd/ 5 Top Tips for Succeeding at University
• Chris Drew (PhD) https://helpfulprofessor.com/author/chris-drew-phd/ 50 Durable Goods Examples
• Chris Drew (PhD) https://helpfulprofessor.com/author/chris-drew-phd/ 100 Consumer Goods Examples
• Chris Drew (PhD) https://helpfulprofessor.com/author/chris-drew-phd/ 30 Globalization Pros and Cons

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The pros and cons of globalization.

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A story in the Washington Post said “20 years ago globalization was pitched as a strategy that would raise all boats in poor and rich countries alike. In the U.S. and Europe consumers would have their pick of inexpensive items made by people thousands of miles away whose pay was much lower than theirs. And in time trade barriers would drop to support even more multinationals expansion and economic gains while geo political cooperation would flourish.”

There is no question that globalization has been a good thing for many developing countries who now have access to our markets and can export cheap goods. Globalization has also been good for Multi-national corporations and Wall Street. But globalization has not been good for working people (blue or white collar) and has led to the continuing deindustrialization of America.

Globalization is a complicated issue. It is necessary to evaluate the pros and cons before drawing any conclusions.

Supporters of globalization argue that it has the potential to make this world a better place to live in and solve some of the deep-seated problems like unemployment and poverty.

1. Free trade is supposed to reduce barriers such as tariffs, value added taxes, subsidies, and other barriers between nations. This is not true. There are still many barriers to free trade. The Washington Post story says “the problem is that the big G20 countries added more than 1,200 restrictive export and import measures since 2008

2. The proponents say globalization represents free trade which promotes global economic growth; creates jobs, makes companies more competitive, and lowers prices for consumers.

3. Competition between countries is supposed to drive prices down. In many cases this is not working because countries manipulate their currency to get a price advantage.

4. It also provides poor countries, through infusions of foreign capital and technology, with the chance to develop economically and by spreading prosperity, creates the conditions in which democracy and respect for human rights may flourish. This is an ethereal goal which hasn’t been achieved in most countries

5. According to supporters globalization and democracy should go hand in hand. It should be pure business with no colonialist designs.

6. There is now a worldwide market for companies and consumers who have access to products of different countries. True

7. Gradually there is a world power that is being created instead of compartmentalized power sectors. Politics is merging and decisions that are being taken are actually beneficial for people all over the world. This is simply a romanticized view of what is actually happening. True

8. There is more influx of information between two countries, which do not have anything in common between them. True

9. There is cultural intermingling and each country is learning more about other cultures. True

10. Since we share financial interests, corporations and governments are trying to sort out ecological problems for each other. – True, they are talking more than trying.

11. Socially we have become more open and tolerant towards each other and people who live in the other part of the world are not considered aliens. True in many cases.

12. Most people see speedy travel, mass communications and quick dissemination of information through the Internet as benefits of globalization. True

13. Labor can move from country to country to market their skills. True, but this can cause problems with the existing labor and downward pressure on wages.

14. Sharing technology with developing nations will help them progress. True for small countries but stealing our technologies and IP have become a big problem with our larger competitors like China.

15. Transnational companies investing in installing plants in other countries provide employment for the people in those countries often getting them out of poverty. True

16. Globalization has given countries the ability to agree to free trade agreements like NAFTA, South Korea Korus, and The TPP. True but these agreements have cost the U.S. many jobs and always increase our trade deficit

• The general complaint about globalization is that it has made the rich richer while making the non-rich poorer. “It is wonderful for managers, owners and investors, but hell on workers and nature.”

• Globalization is supposed to be about free trade where all barriers are eliminated but there are still many barriers. For instance161 countries have value added taxes (VATs) on imports which are as high as 21.6% in Europe. The U.S. does not have VAT.

• The biggest problem for developed countries is that jobs are lost and transferred to lower cost countries.” According to conservative estimates by Robert Scott of the Economic Policy Institute, granting China most favored nation status drained away 3.2 million jobs, including 2.4 million manufacturing jobs. He pegs the net losses due to our trade deficit with Japan ($78.3 billion in 2013) at 896,000 jobs, as well as an additional 682,900 jobs from the Mexico –U.S. trade-deficit run-up from 1994 through 2010.”

• Workers in developed countries like the US face pay-cut demands from employers who threaten to export jobs. This has created a culture of fear for many middle class workers who have little leverage in this global game

• Large multi-national corporations have the ability to exploit tax havens in other countries to avoid paying taxes.

• Multinational corporations are accused of social injustice, unfair working conditions (including slave labor wages, living and working conditions), as well as lack of concern for environment, mismanagement of natural resources, and ecological damage.

• Multinational corporations, which were previously restricted to commercial activities, are increasingly influencing political decisions. Many think there is a threat of corporations ruling the world because they are gaining power, due to globalization.

• Building products overseas in countries like China puts our technologies at risk of being copied or stolen, which is in fact happening rapidly

• The anti-globalists also claim that globalization is not working for the majority of the world. “During the most recent period of rapid growth in global trade and investment, 1960 to 1998, inequality worsened both internationally and within countries. The UN Development Program reports that the richest 20 percent of the world's population consume 86 percent of the world's resources while the poorest 80 percent consume just 14 percent. “

• Some experts think that globalization is also leading to the incursion of communicable diseases. Deadly diseases like HIV/AIDS are being spread by travelers to the remotest corners of the globe.

• Globalization has led to exploitation of labor. Prisoners and child workers are used to work in inhumane conditions. Safety standards are ignored to produce cheap goods. There is also an increase in human trafficking.

• Social welfare schemes or “safety nets” are under great pressure in developed countries because of deficits, job losses, and other economic ramifications of globalization.

Globalization is an economic tsunami that is sweeping the planet. We can’t stop it but there are many things we can do to slow it down and make it more equitable.

What is missing?

Leadership – We need politicians who are willing to confront the cheaters. One of our biggest problems is that 7 of our trading partners manipulate their currencies to gain unfair price advantage which increases their exports and decreases their imports. This is illegal under WTO rules so there is a sound legal basis to put some kind of tax on their exports until they quit cheating.

Balanced Trade – Most of our trading partners can balance their trade budgets and even run a surplus. We have not made any effort to balance our trade budget and have run a deficit for more than 30 years resulting in an $11 trillion deficit. The trade deficit is the single biggest job killer in our economy, particularly manufacturing jobs. We need the government to develop a plan to begin to balance our trade deficit even though this is not a political priority in either party.

Trade Agreements – Both the NAFTA and the South Korean Korus trade agreements might have been good for Wall Street and the multi-national corporations but they eliminated jobs in America and expanded our trade deficit. The upcoming Trans Pacific Trade Agreement will do the same thing and Congress should not fast track this bad agreement for a dozen reasons.

Enforcing the rules – China ignores trade rules and WTO laws with reckless abandon. Besides currency manipulation they subsidize their state owned companies to target our markets, and provide funding to their state owned companies that dump their products in America. They also steal our technologies, sell counterfeit versions of our products, and impose tariffs and other barriers anytime they want - as we do nothing to stop them. China does not deserve to be on our most favored nation list and we need to tax their exports to us until they stop these illegal activities.

What is good for third world countries, like Kenya, or countries with tremendous growth, like China, has not been good for American workers. Globalization is deindustrializing America as we continue to outsource both manufacturing blue collar and white collar jobs. Supporters of globalization have made the case that it is good because it has brought low priced imported goods, but they have not matched the decline of wages in the middle class and will not offset the loss of many family wage jobs

Globalization is like being overwhelmed by a snow avalanche. You can’t stop it – you can only swim in the snow and hope to stay on top. I would like to make the argument that the US should try a lot harder to swim in the snow and stay on top. We can’t stop globalization but there are many policies and strategies we can use to make it more equitable. We can enforce the trade laws, force the competition to play by the same rules, and stop giving our competitors the tools (technology and R& D) to ultimately win the global war.

Mike Collins is the author of Saving American Manufacturing. His website is www.mpcmgt.com.

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Effects of globalisation

Globalisation essay- sample, essay samples to readout, evaluating the pros and cons of globalisation essay.

Coined in the latter part of the 1980s, Globalisation as a term was introduced by Theodore Levitt. The term has since then revolutionised the global business environment. With this term, people around the world have been able to do business with each other. Moreover, the global business scenario's implication has brought in various opportunities for the world's people. It has increased the exchange of goods and services in the global environment. This has more importantly boosted the ease in communication between the different worlds, cultures, and societies. Not to forget, Corporate Social Responsibility is yet another advantage of globalisation, which has helped companies realise their duty towards the environment. 

Globalisation, in simple terms, can be defined as the process which has enabled the easy and fast movement of goods and services across the globe. It also includes the exchange of talent, technology, capital, and cultural practices across the borders.

Globalisation is one of the major developments that the world has witnessed in recent decades. It has not only uplifted the living standards of the people but has also brought in numerous opportunities for them. Also, there is a list of major factors affecting international business , mostly due to globalisation. However, here is a list of effects globalisation has made on the world and its economies:

Increased job opportunities: The exchange of human resources overseas has given wings to the job options. People now travel from less developed to developing or developed countries in pursuit of better jobs. Moreover, the remunerations paid to the talents are also at par and enjoyed by the employees.

Improved financial conditions: Globalisation has impacted greatly on the finances of individuals and families across the globe. With better jobs and business growth in hand, people have got the opportunity to flourish their financial conditions. People from developing countries have gained momentum in terms of better lifestyles and spending capabilities.

Multiplying business growths:  The blooming cycle of good jobs, high pay scale, upscale lifestyles, higher spendings has given a boost to the business industry as well. The business class in the countries has also experienced a greater chance of establishment and growth. In fact, many new business ventures have been incorporated in recent years. This is much because of the enhanced opportunities created due to the concept of globalisation. When people see better opportunities in the world around them, they feel safe investing their money. These finances then help them flourish in the future, which further leads to a much bigger and influential cycle of advancement and interdependency.

Higher quality of life: With all these changes happening simultaneously, the world's people now witness a comparatively better quality of life. This covers the varied aspects of human development and safety. In fact, education, hospitality, medicine, civil services all these sectors have seen a considerable upward shift in their service quality.

Increased competition levels: With globalisation, the world has become a single stage, where the best talents are indulging in healthy competition with each other. This leads to not only improved quality of work but greater enthusiasm in people to perform even better. These positive changes lead to the evolution of a more efficient and competent world.

International standards of work: With the incorporation of the MNC culture into practise, better working norms have been introduced in countries across the globe. No more workers are being treated as labourers and the office jobs are now much refined and respected in society. Also, people now see it as a mode of earning name and fame in their career. Being associated with top brands or multinational companies is now believed to be a matter of honor. All of this has boosted the confidence level of the people and has even made people love their professional life.

Pros and Cons of Globalisation in a developing country

1. enhancement of trade opportunities.

This is one of the biggest pros of globalization. It has brought immense enhancement in global trade opportunities. Now, people are not only limited to selling and purchasing goods from the local market. They have huge access to foreign brands, products, and services available to them right within their countries. Not only this, business organizations can export their goods to foreign markets and enjoy access to bigger markets. Further, globalization has also provided people with access to goods at lower prices. For example, Chinese electronics are generally cheaper and China exports them to different countries where people get to buy them at lower prices. This way, developing countries have got the opportunity to export their products to international markets.

2. Globalization has increased employment opportunities

In developing countries: To help their people rise from poverty, developing countries need to create employment opportunities for them. Globalization is playing an important role in helping developing countries with this purpose. This is because, with globalization, MNCs have entered the markets in developing countries. They employ labour for construction and hire their employees from the respective developing countries. This way, they create multifarious employment opportunities in developing countries.

3. Globalization provides access to foreign cultures

Different regions of the globe have different cultures associated with them. Their culture inspires their way of living, eating practices, their art forms, and everything else. So, people living in different regions follow different cultural practices. For example, ‘Namaste’ is an important cultural practice followed in India for greeting purposes. Whereas, in countries like the United States, people greet each other with a firm handshake. But, as globalization is spreading its wings, people of different regions are getting to know about different regions' cultures. This awareness introduces them to new practices related to things such as food, clothing, and artwork. As a result, they get to try new things while living in their native place only.

4. Globalization gives rise to global technological advancements

Globalization is giving rise to global technological advancements. If some new technology gets developed in a particular region or country of the world, it no longer stays limited there only. Due to the expansion of trade, it travels to other regions of the world soon, and different countries adopt it. For example, Mobile banking is slowly spreading its wings in different countries of the world. As a result, developing countries are getting equal access to technology advancements as the developed ones.

5. Globalization has promoted the global hiring of talented individuals

Globalization has provided new horizons concerning the recruitment of talented individuals. Companies are now hiring not only individuals from the same countries but also internationally. They don’t mind whether the individual is from a developing country or a developed one; all they need is talent. Thus, globalization has promoted the global hiring of talented individuals.

1. Globalization is posing a threat to cultural diversity

As discussed above, with globalization, people of different cultures are getting access to foreign cultures. They are learning about the cultural practices followed by different cultures and also adapting to the ones which they like. For example, Indians have started wearing more of western clothes over time. But, such adaptation of practices between cultures is posing a threat to local native cultures. The prevalence of new practices may make people forget their old cultural practices with the passage of time. As a result, cultural homogeneity may take place which may rob countries of their respective vintage cultures.

2. Globalization has increased the environmental threats

The environment is already in danger. Pollution, Global Warming, unpredictable climate change , Ozone Layer Depletion are examples of environmental problems that the world is currently going through. In response to this, several countries of the world have formed strict environmental laws. Thus, to operate in such countries, business organizations have to abide by the respective environmental laws. This usually makes business organizations bear some extra costs and also requires them to follow sustainable practices which require more time and effort. As a result, they prefer to set themselves up in places where there are no strict environmental laws. So, they continue to operate in a way, which poses a continuous threat to the environment. This way, globalization has increased the environmental threats

3. Globalization has brought a rise in corruption

This is one of the biggest cons of globalization. It has brought a rise in cases of corruption. According to Henley Business School's research, 85% of the managers have admitted that they had to resort to some bribery when doing business with developing countries in general. Further, after engaging in corruption for once, it gets easier for business organizations to engage in such practices in the future. Thus, we can say that globalization is making corruption spread among different countries.

4. Globalization has increased the threat of disease transfer

With globalization, people started traveling from one region of the globe to another. This has increased the threat of disease transfer from one region to another. For example, the pandemic initial outbreak of the pandemic, COVID-19 took place in the seafood market in Wuhan, China. Then, it slowly started spreading in the whole country and with the passage of time, the infection spread in almost every country of the world. This happened because of people traveling to or from China to other countries. Along with this, Chinese food and other goods also played a key role in spreading the infection to different parts of the world, as COVID-19 thrived even on goods and objects. This way, globalization has brought a significant rise in the threat of disease transfer across the globe.

5. Globalization is more beneficial for already developed countries

According to studies, globalization is more beneficial for already developed countries. This is because MNCs from developed countries enter developing countries' markets and give tough competition to the local producers. Due to their attraction towards international products, people prefer making purchases from MNCs. As a result, they make huge profits, whereas local producers suffer a loss in their income. This way, Globalization is more beneficial for already developed countries rather than the developed ones.

Pros and Cons of Globalisation in a developed country

Globalization has a positive side for developed countries, which improves the economic growth and development of these economies. The process of globalization helps in solving various deep-seated problems of the economy. Following are the main benefits of globalization in the context of developed economies.

Comparative advantage: The core benefit of globalization is a comparative advantage as globalization helps countries to produce goods and services at lower opportunity costs than the other countries. The developed country may benefit from producing or procuring various goods at low costs by exporting the same from other countries, which directly provides a comparative advantage to the developed country. For instance, the United States has achieved the comparative advantage of producing semiconductors.

Easy access to goods and services: Globalization also provides easy access to various goods and services at low cost to many individuals by ensuring imports and exports of goods with greater ease, which also helps reduce the volatility of output and consumption of goods. Consumers also get a wider choice in various goods and services at low prices. Thus, globalization is an important factor that improves easy access to various goods and services at reduced prices. For instance, information from the United Nations Development Program highlights that G20 nations use around 86 % of their resources.

Through free trade and investment opportunities, the expansion:  provides market expansion opportunities to domestic firms through free trade and reduced trade barriers, ensuring economic growth and development. Further, Globalization causes increased competition between the firms. It provides domestic firms an opportunity to export various products and services in the wider market, further improving economic welfare and development. Also, the developing countries often face difficulty competing with the developed countries and get harmed by the tariff protection, ensuring that globalization and free trade benefit developed countries.

The spread of information technology and better economic growth: Globalization also helps spread information and technology between countries through a better influx of information and technology. Also, (Zhang & London, 2011) has provided that developed countries directly get benefited through globalization through better education, technology, finance, and management.

The free movement of labor: Increased labour migration is one of the main benefits of globalization as globalization helps to reduce labour shortage in economies and provides sufficient human capital to fill important positions. This also helps developed countries to improve their productivity and economic growth. For instance, the UK is a highly developed economy that needs to hire nurses from the far east in order to fill the shortage of nurses in the country and to improve the quality of healthcare services.

Some praise the concept of globalization, and some protest this phenomenon on various grounds such as job loss and social injustice. Thus, the process of globalization has its own disadvantages, which are discussed in the points as follows:

Loss of jobs:  is one of the main disadvantages of globalization as free trade of resources, money, and individuals provides an opportunity to organizations in developed to hire employees at low prices from developing countries which directly causes loss of employment by the individuals in the developed countries. Although globalization helps increase return on capital in developed countries such as the US, it also causes decreased return to labor. The low-skill jobs in the US may also disappear due to globalization and employees' availability at low prices from developing countries. In addition to this, the technological advancement associated with globalization also results in decreased employment in the country. Moreover, US employees may also face problems with pay cuts from employers by threatening the export of jobs.

Social inequities: The occurrence of social inequities is another major challenge of globalisation. Large companies, wealthy people, politicians, and lobbyists may manipulate scenarios and set their own rules, regulations, and laws. Further, they may hoard the global resources for themselves, which may give rise to social inequities at the global scale or in the developed country itself.

Poor industrial growth: Globalisation may also cause poor industrial growth. It may also lead to the closure of the companies in the developed countries due to the availability of goods at low prices from other countries. For instance, the small US cement companies may struggle to compete in the US market and may get shut down due to the import of cement at low prices from developing countries. This also may cause higher unemployment and loss of productivity in the economy.

Increase in wage rates:  It is another main disadvantage of globalization that may also impact companies' profitability in developed countries (Collins, 2015). Moreover, companies in developed countries such as the US may enjoy a comparative advantage for effective software development practices. However, this may cause a rise in the wages of software engineers in the country, which may directly impact the revenue of software development and software companies in the US.

Tax avoidance: Globalization also increases the chance of tax competition and avoidance in developed countries as large companies in the developed economy may set up their offices in regions with low corporate taxes to funnel through profits through lower tax payments. For instance, multinational companies such as Apple and Google (US-based companies) may establish their offices or subsidiaries in developing countries such as Luxembourg, where there is a shallow corporate tax rate to save their taxes. This way, the companies may pay meager taxes in the US.

The students of different colleges of the globe get several assignments or case studies on globalization's effects. Many students find it tough to gather the concepts and write them in an assignment form. Therefore, to help such students, an initiative called Assignment help has been taken by Assignment help4me  to provide free access to globalisation essays. Besides, the subsequent sample essay shall help the students to frame their own for their next college assignment. Also, it gives an idea of how the assignments should be presented and how they can score high grades in their daily routine assignments.

Globalisation- The boon or bane?

Growth, development, and improvement may seem synonymous with each other. But in actuality, these terms are highly interdependent. It can be taken about the progress of either a human being or even the entire nation or in interrelation to both. If a human being gets the opportunity of growth, he develops new mediums for improvement, and thus, the entire society experiences positive change and expansion. One such surge in the lives of human beings and the world's businesses began when society experienced the implication of globalisation. It not only empowered the developing nations to grow infinitely but also refined the sources of employment. On the other hand, globalisation has also led to some deeper challenges for the developed nations. This article discusses both the scenarios and tries to evaluate which one has a stronger impact.

Thesis statement: International trade and the expansion of local businesses globally have brought in great positive changes in the business environment. However, it has also proven to be disadvantageous for many communities or nations. This article evaluates the two sides and checks if Globalisation has proven to be a boon or bane for the world. It also checks on the following points:

How has globalisation been advantageous for the world?

For which types of nations, Globalisation has created challenging situations?

Firstly, the export and import trade on a global level has benefited many markets. Essentially, the developing nations have been able to conquer the business in the overseas markets because of their competitive advantage. With the concept of globalisation in practice, many small and big regional companies started expanding and exploring options in the international market. With the businesses surging high, a great peak has been witnessed in the GDP and the economic growth of developing nations like India, China, Bangladesh. These have been regarded to export high-quality products at favorable prices. Also, the popularity of the goods keeps increasing as it spans its wings across multifarious nations. With the increase in demand, the respective countries win over the battle of unemployment.

Probing further, high employment opportunities are the definite advantageous results of globalisation. It has brought in money back home, which has further created multiple job openings. With the ideology of multinational companies, the brands started to set up their factories and offices in developing nations. This ultimately weaved in greater openings for the new talent. Adding on, poverty and unemployment have seen a downward graph due to the expansion of businesses.

Furthermore, one very crucial aspect that has gained importance over the years is the value of talents. With the increased opportunities and wide-open doors of companies and nations across the globe, people are not confined to the laborious and taxing jobs as they were earlier being pushed into during the times of the industrial revolution. In true words, the treatment, respect, and the monetary evaluation for the employment class are three major aspects that have seen a noticeable shift in recent years. Also, because of this, a positive improvement has happened in the employee-employer relationship. This certain change has motivated the workforce of the world and has created employment sectors a better place to grow. Moving ahead, along with the advantages, globalisation also has some disadvantages, which primarily have affected the developed nations.

As discussed above, with the resources and products getting exchanged, the developed countries' companies have access to cheap labor and high-quality products. This works for both the employment sector as well as the manufacturing units. Many companies have even set up their business units to gain direct access to labor and land facilities in developing nations. This, at one point, has proven to be of great benefit for the developing countries, but on the other hand, has taken away the jobs from the developed nations. However, these companies' monetary benefits ultimately add up to the GDP and FDI, and capital flow of the respective countries.

Further, the small companies or the new ventures are always at a risk of failure because of the rigorous competition prevailing in the international market. This puts the products, services, and even the wages of the high skilled workers at risk. These companies further set examples for the failure of budding companies and even discourage new businesses from emerging. The discussion on this point clearly highlights the risk that high competition brings along. Moreover, with the concept of global village into practice, the difficulties have increased even more. The internet generation is putting greater challenges as the order and shipment of goods is now easily accessible. These give buyers a variety of options, resulting in an overdose of competition.

Certainly, loss of jobs in the developed nations, high competition, and free trade are certain factors pointing towards the negative side of the globalisation narrative. Still, the positive effects of globalisation cannot be ignored. It can be said that globalisation is rather a boon than a bane, given the fact that its merits outweigh the demerits. The amount of positivity and growth this process has been providing to the world is unmeasurable. Also, it has made rich nations even richer, which is pushing its government to create even better job opportunities for its citizens. It is because of the higher GDP of the developed nations that their governments can provide federal grants to their national university students. The advancement and the growth in terms of technology and achievement are at par excellence, and developing countries are far beyond their growth chart.

However, to achieve a balance between the both, certain steps need to be taken. These can include motivation for professional courses in foreign countries and pushing children to attain higher educational degrees. Because of the lower aptitude levels and lesser interest in education, they fail to compete with developing countries. The government needs to plan some strategies to fetch the students' interest towards education and generate different kinds of jobs, which would fill the increasing gap of unemployment, largely due to the loss of low-skilled jobs.

Globalisation in totality has both benefits and drawbacks for the developed as well as the developing countries. It has been a concept that has turned fortunes for many, whereas on the other hand, it has also incurred losses to countless people around the globe. There is a need to balance the downsides of globalisation and international trade. Else, the practice of globalisation has certainly proven to be a win-win situation for most countries and much of the global population.

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Is Globalization Good Or Bad: Evaluating The Pros and Cons

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The advantages of globalization, the disadvantages of globalization, striking a balance.

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Pros and Cons of Globalization CSS ESSAY 2021

Table of Contents

Thesis Statement

Globalization has brought numerous advantages and disadvantages to the world, impacting various aspects of society, economy, and culture. In this This essay we will explore the pros and cons of globalization, highlighting its benefits in terms of economic growth, technological advancements, and cultural exchange, while also discussing its challenges related to inequality, cultural homogenization, and environmental concerns.

Introduction

Globalization has become a defining feature of the modern world, shaping various aspects of society, economy, and culture. As nations have become more interconnected and interdependent, it is important to examine the pros and cons of this phenomenon. While globalization has brought numerous benefits such as economic growth, technological advancements, and cultural exchange, it has also presented challenges including inequality, cultural homogenization, and environmental concerns. This essay will explore these pros and cons, shedding light on the complexities of globalization.

Exposition: Understanding Globalization

Globalization can be defined as the increasing interconnectedness and interdependence of nations in various aspects, including trade, communication, and technology. It has its roots in historical developments such as the expansion of trade routes and colonialism. However, it has gained momentum in recent decades due to advancements in transportation, communication, and the liberalization of trade policies. Globalization has enabled the flow of goods, services, capital, and information across borders, leading to increased global integration.

Pros of Globalization

Economic growth and development.

One of the key advantages of globalization is the potential for economic growth and development. Increased trade and investment opportunities have opened up new markets and expanded access to consumers worldwide. Businesses can now reach customers in different countries, leading to job creation, enhanced productivity, and overall economic prosperity. Globalization has also facilitated the transfer of technology and knowledge, fueling innovation and economic progress.

Technological Advancements

Globalization has accelerated the dissemination of information and knowledge through advancements in technology. The rapid exchange of ideas and expertise has led to breakthroughs in various fields, driving technological advancements. Innovations in areas such as communication, transportation, and medicine have transformed industries and improved the quality of life. Global collaboration and knowledge sharing have become easier, fostering scientific and technological progress.

Cultural Exchange and Diversity

The interconnectedness brought about by globalization has facilitated cultural exchange and diversity. People have greater exposure to diverse cultures, ideas, and perspectives from around the world. This exposure enriches societies by promoting cross-cultural understanding, tolerance, and appreciation. The exchange of artistic, literary, and culinary traditions has broadened cultural horizons, fostering a global tapestry of diversity and creativity.

Cons of Globalization

Economic inequality.

Despite the potential for economic growth, globalization has also led to increased economic inequality. The benefits of globalization are not evenly distributed, and wealth and resources tend to concentrate in the hands of a few. Developing countries often face challenges in competing with more developed nations, leading to disparities in wealth and living standards. Additionally, the exploitation of cheap labor in some parts of the world has raised concerns about fair trade practices and workers’ rights.

Cultural Homogenization

The dominance of Western cultural values and consumerism is a significant challenge posed by globalization. As global markets expand, there is a tendency for cultural homogenization, where local traditions and identities are marginalized or eroded. The influence of Western media, fashion, and entertainment can overshadow indigenous cultures, leading to the loss of cultural diversity. Preserving and promoting local traditions and languages becomes crucial in maintaining cultural richness and identity.

Environmental Concerns

Globalization has also raised environmental concerns. The increased movement of goods and people has resulted in higher carbon emissions and an ecological footprint. The overexploitation of natural resources to meet global demand poses threats to biodiversity and ecosystems. Environmental challenges, such as climate change and deforestation, require international cooperation and sustainable practices to mitigate their impact.

Addressing the Challenges

To manage the challenges of globalization, various strategies can be employed.

Economic Reforms and Redistribution

Implementing fair trade practices, ensuring workers’ rights, and promoting inclusive economic policies are essential in reducing economic inequality. Progressive taxation can help redistribute wealth and address disparities in income distribution.

Preserving Cultural Diversity

Supporting local arts, traditions, and languages is crucial in preserving cultural diversity. Governments and communities can take measures to protect and promote their cultural heritage, fostering intercultural dialogue and understanding.

Sustainable Development and Environmental Stewardship

Investing in renewable energy, adopting sustainable production and consumption practices, and strengthening international agreements on climate change and environmental protection are necessary steps in addressing environmental concerns. Global cooperation is vital in tackling shared environmental challenges.

Case Studies and Examples

Numerous case studies demonstrate both the positive impacts and negative consequences of globalization. For instance, countries like China and India have experienced remarkable economic growth and poverty reduction as a result of globalization. On the other hand, social unrest and environmental degradation have been observed in some regions due to unsustainable development practices.

Globalization is a multifaceted phenomenon with both benefits and challenges. While it has contributed to economic growth, technological advancements, and cultural exchange, it has also raised concerns regarding inequality, cultural homogenization, and environmental sustainability. Addressing these challenges requires a balanced approach that maximizes the benefits of globalization while mitigating its negative impacts. By promoting inclusive economic policies, preserving cultural diversity, and embracing sustainable practices, societies can navigate the complexities of globalization and create a more equitable and sustainable world.

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Globalization in Media: Pros and Cons

Globalization has a great impact on the world transforming social, political, cultural, and economic spheres of life. Innovations in transportation have been complemented by the swift development of communication technologies. The 20th-century arrival of mass-circulation newspapers and magazines, film, and television further enhanced a growing consciousness of a rapidly shrinking world. Globalization transforms the economic system of the world bringing new opportunities to less developed countries; it changes cultural and political spheres popularizing democratic values and principles and promulgating the western style of life. Globalization in the media sphere is influenced by changes in political and cultural spheres bringing new economic opportunities and financial capitals to media giants. These needs lead to digitalization, consolidation, and deregulation of the media environment around the globe.

Far-reaching changes are occurring in the social, economic, and political environments, affecting the strategies, structure, and management of media business. The notion of strategic alliances in media incorporates the need for considering the current economic context affecting the firm. Media companies use strategic alliances as one of the main tactics to compete in the global media market. Need to collaborate caused by changes occurring in the social, economic, and political environments. Strategic alliances allow media companies like AOL to meet new economic and legal challenges (MacGillivray 43). Increased use of public transportation systems may reduce the audiences of in-car radio and outdoor advertising. Media companies are interested in reaching the large percentage of the population that is English and Spanish speaking will need to develop new strategies (Emling 1). This factor could be interpreted as a strength but the globalization process and changing international relations show that cultural and social values become opportunities rather than strategies for global steel companies. A solid understanding of cultural preferences is important for any company that markets such products internationally. Media companies leverage superior cultural understanding to compete effectively with large foreign firms. It is possible to say that it has an advantage drawing from tradition. In recent years many people are concern about their health and the quality of water they use. The industry structure and market position of media companies suggest that the threat of entry is low (Osterhammel and Petersson 65).

Consolidation in the media industry is a direct result of new economic and cultural relations. The economic environment in America and Europe is very favorable creating enormous opportunities to increase sales and profitability. National and regional economic health and growth have become increasingly dependent upon export sales as an engine of growth and as a source of the foreign exchange necessary for the import of goods and services. In the media sector, collaborations and strategic alliances allow companies to effectively compete in today’s turbulent business environment. The future of Time Warner Inc lies in its ability to stand fast against foreign competition and to develop the goods and services that will be in demand in the twenty-first century (Osterhammel and Petersson 65). Emerging from great difficulties and embarking on an ambitious program to create products that will revolutionize entire industries, Time Warner Inc wastes no time in taking the steps necessary to seize its future. The strategy at Time Warner Inc was to develop known technologies into viable commercial products that could deliver value to customers. Thus Time Warner Inc was prepared to commence work on a project that would enhance its competitive advantage by establishing it as an industry leader in an emerging field. To be successful given this new set of ground rules, a new way of thinking must be instilled among all levels of management (Time Warner Inc Home Page 2007). This is no longer a luxury, but a necessity born out of a historically dismal track record. With each failure, the UK media sector becomes increasingly indebted and unable to compete against foreign companies. The executive must be able to create a dynamic management structure with an equal distribution of authority capable of responding to the unique requirements of combined business cultures. A shift from short- to long-term thinking when developing and implementing acquisition strategies is necessary to ensure that strategies are properly implemented before they are abandoned. This requires calculated risk-taking and, most importantly, streamlined channels of communication. The underlying argument presented is that there are significant opportunity costs associated with restructuring (Picard, 61).

Digitalization of media is caused by new technology and the availability of technological innovations in all countries. The attractiveness or the presumed merits of digitalization activity is the assumption that a given technology will enhance the growth potential of the company. Preferably, the goal is to acquire digital technology a complementary business unit with related lines of markets and products that would fit nicely into the firm’s long-term strategic direction, improving the acquiring firm’s overall growth potential and marketability (Osterhammel and Petersson 60). The selection of which company would fit best in the current corporate culture is based on many factors, and it varies from firm to firm. In fact, even firms competing within the same industry segment might have very different acquisition strategies. Media gains sustainable competitive advantage by conceiving new ways of conducting activities, employing new procedures, technologies, inputs, or channels of distribution. Managing the organization is therefore not just about managing functions, but managing linkages between those functions (Picard, 74; Time Warner Inc Home Page 2007).

Deregulation in the media industry is a result of global economic and political changes and weaknesses of international laws. For a modern state, it is difficult to control multinational media corporations and their financial flows. In order to compete in the global market and remain competitive, a media firm may choose to sell off a business unit in order to purge those divisions that exhibit either low growth potential or low relative market shares. As with the case of an acquisition, the desire is to improve the growth potential of a firm and thus its survival in the marketplace. A business unit exhibiting modest or negative cash flow and low growth potential should definitely be a candidate for divestiture. An appropriate strategy may also be to sell off businesses with high relative shares in high-growth markets to provide the necessary funding for investment in existing business units that the firm would rather concentrate its energies on. Of course, one reason for divestiture may simply be that the business unit is too expensive for the firm to fund, requiring too much cash to sustain its rate of growth (Picard 33). This type of business would also be a more attractive acquisition target. The point remains that a major motivating factor for strategic alliance activity is the potential for improved growth. The task, then, is to determine how well corporate acquirers have fared with their acquisition activities, and whether these firms have been better off from these activities (Picard, 83). In other words, how a target firm will perform in the long term and how well its corporate strategy coincides with the strategy of the acquiring company are more important than the acquired firm’s current financial performance. This is not to say that one must only locate an acquisition or alliance target that is on solid footing. Rather, it is more important to internally evaluate a firm’s internal needs and purpose before embarking on a strategy of acquisition. If the acquisition is the vehicle, it must be a structural component of the acquiring firm’s strategy. A business always has the option of expanding either internally through R&D efforts or externally through strategic alliances. If one firm acquires another and the combined entity’s returns cannot be significantly greater than the two separate companies would have been independently, then the acquisition was not based on a sound strategy.

In sum, the information mentioned above shows that globalization processes in the media industry are crucial for success and a strong market position of the media companies. Globalization involves the transfer of resources from the colonized global South in exchange for European manufactures. Developed nations spread their political system and cultural values across the globe. Like all social processes, globalization contains dimensions filled with a range of norms, claims, beliefs, and narratives about the phenomenon itself. However, it is not just rational economics that drives this selection: it helps that media organization tend to be staffed by highly trained people with an interest in new technologies, people who have been selected to embrace and develop new ideas. Of all the functions in a media organization, this is the one that should show the most natural inclination to embrace the new ideas of working within the media alliances can all be effective ways to improve the competitive position of an overall firm. However, any one of these processes must be an integral part of an ongoing corporate strategic plan. In addition, the evaluation process must shift its emphasis away from traditional financial performance criteria toward overall competitive dynamics.

Emling, S. May 4. AOL’s push to rev up Net service faces hurdles. Atlanta Journal- Constitution , 1F, 2002.

MacGillivray, A. Globalization . Carroll & Graf, 2005.

Osterhammel, Jurrgen, and Nieles P. Petersson. Globalization: A Short History . New Jersey: Princeton University Press, 2005.

Picard, R. The Economics of Financing of Media Companies (Business,  Economics & Legal Studies). Fordham University Press; 1 edition, 2002.

Time Warner Inc Home Page 2007. Web.

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Pros and Cons of Globalization – CSS Essay

Note: The topic “Pros and Cons of Globalization” came in the CSS Essay Paper – 2021. The admin attempted the following essay and cleared this exam.

Please be clear that we have broken the paragraphs for clarity. However, this is not recommended in essay writing. You have to follow the proper structure of essay writing .

Globalization is defined as the free flow and movement of people, ideas, information, and goods across borders.

It was in the second half of the twentieth century that the world witnessed a conspicuous shift from Nationalism and Mercantilism to Globalization and International Liberal Economic Order.

The main motive behind free trade and globalization was mutual interests and gains. Countries opened up their borders. Ultimately, it marked the beginning of a new era defined by the free movement of goods and people across the border.

Primarily, it was the end of World War II that marked the setting up of global institutions like the United Nations, the International Court of Justice, the World Trade Organization (erstwhile General Agreement on Tariffs and Trade), etc.

It was believed that these institutions will help in maintaining peace in the world and avoid another major global war or conflict.

In short, from the latter half of the 20 th century till the present, the world remained largely globalized.

Since we have witnessed the entire period of globalization, we can fairly analyze the pros and cons of globalization from hindsight.

So, is globalization good? Does it provide a win-win situation for every country? Are there some drawbacks or cons of globalization too? Let’s dig into details to find answers.

5 Major Pros of Globalization

Globalization offers multiple advantages acknowledged by everyone and denied by none. Following are a few major pros of globalization.

1. Globalization offers Mutual Cooperation & Development

In the past, when the world was non-globalized and nationalism was prevailing, there was a lack of cooperation between states. Even, countries were suspicious of each other. The focus was on self-development and progress. States never cooperated with each other for mutual progress and development.

With the advent of globalization, today’s states are cooperating with each other in the field of education, science, and technology. Moreover, states are working on the basis of mutual intelligence sharing for enhanced security.

For instance, in the recent pandemic crisis, how China has sent medical supplies and teams across borders and oceans clearly highlights the essence of globalization. Those states that were missing ventilators, vaccines, etc got help from other states in fighting Covid-19.

This is an example from recent times. For other example, the spread of Information and Communication Technology across the world is also a hallmark of globalization.

There are multiple regional-level and global-level organizations active today. For example, SAARC, ASEAN, SCO, UNO, WTO, etc all work for the mutual interests of the member countries.

Hence, mutual cooperation and the development of countries are among the most prominent advantages of globalization.

2. Globalization offers more Peace in the World

It is no denying the fact that globalization has brought peace to the world. Though we do witness wars and conflicts even today, those are not on such large scales as in the pre-globalized world.

The pre-globalized world had witnessed two great wars in the 20 th century and many even before that. While the states were not interconnected, they remained suspicious of each other’s strengths, motives, and activities. They lacked mutual interests and goals.

Today, the role played by global institutions in the maintenance of world peace is commendable.

Moreover, in today’s globalized world, states are working on common interests and are dependent on each other. With mutual dependency, they are pursuing common economic interests in the form of trade. With each other’s help, states are advancing in science and technology.

Such interdependency has altogether dismissed the chances of any major global conflict in the future.

Moreover, globalization has enhanced people-to-people contact. When people from different cultural backgrounds meet each other and learn about other cultures, it creates a feeling of harmony and goodwill among them. This ultimately promotes peace among nations.

3. More Employment Opportunities for Individuals in a Globalized World

In today’s globalized world, there are multiple employment opportunities for individuals. To explain this fact, we see that multiple multinational companies are working with their branches installed across borders. These companies employ manpower from third-world countries. Thus, those who couldn’t find jobs in local companies or in other public sectors get better employment opportunities.

Moreover, today people also find opportunities to find lucrative jobs across borders. For instance, the report says that 2.7 million Pakistani expatriates are living in Saudi Arabia and working there. It is entirely due to the globalized world that these Pakistani got a chance to better living.

Moreover, educated people also find better opportunities for better employment across borders.

Thus, with enhanced employment opportunities, globalization can actually lift people out of poverty.

4. Market Competition keeps the Prices Down

Another major benefit of globalization and free trade is that the prices of commodities remain down.

As globalization has eradicated monopolies with multiple multinational companies competing for markets, these companies try to keep their product prices down to beat the competitors.

Ultimately, it benefits the locals residing in the country who can access the goods at a lower and justified price.

5. Better Educational Opportunities for Students

In today’s globalized world, where people can freely move across borders, students get better educational opportunities.

Today, one can search and apply for any foreign university via the internet.

Moreover, the internet and information technology have also introduced (esp. during Covid-19 times) E-learning and online classes.

So, students do not actually have to move abroad but attend classes from the comforts of home.

4 Prominent Cons of Globalization

As we have discussed some prominent pros of globalization, let us also highlight some major cons of globalization.

1. Exploitation of Poor States by the Rich States

One major argument that goes against globalization is the exploitation of poor states or the global South by rich states or the global North.

This exploitation occurs in the following many ways.

Globalization is said to be a new version of colonialism. During colonialism , rich states exploited poor states by taking their raw materials and dumping finished goods in their markets for financial gains.

This is equally true for globalization. Big multinational companies hire skilled labor from poor countries by paying them better. This results in the closure of local companies in poor states as they cannot hire the same skilled labor for the same wages.

Moreover, small companies in some poor countries cannot compete with bigger multinational companies in global markets.

We can say that globalization further fosters unequal relations between countries or companies.

Furthermore, when big companies install their set-up in third-world countries, apart from exploiting its resources and manpower, it also spoils the atmosphere of that country with the emission of carbon.

In short, globalization has resulted in the exploitation of the poor by the rich in multiple ways.

2. Globalized world poses threats to Cultures | Cultural Assimilation

As with globalization comes great intermingling of people through the cross-border movement of people.

Through this process, different cultures come in close contact. This often results in cultural assimilation where people of one culture tend to adopt the norms and values of the other major culture.

Thus, it poses a great threat to the smaller culture as it might wither away for good.

For instance, if we take the example of Pakistan, the people of Pakistan are adopting western culture, learning their (English) language, adopting their lifestyle, dressing like them, and largely becoming oblivion to their own unique cultural norms and values . This is happening because of globalization.

3. Emerging Non-Traditional Security Threats

This can be best understood from the recent Covid-19 pandemic spread across the world. Ironically, it was China who sneezed first and the rest of the world caught a cold.

Today’s globalized world is more prone to be affected by any pandemic or viral disease within a few days. With the free flow of people and goods across the open borders can travel any sort of virus freely.

For instance, the spread of the Swine Flu, Ebola Virus, and Covid-19, to name a few, was the result of well-interconnectivity in the world.

Similarly, there is also a threat to the economy due to the interconnected world.

As we have seen in 2008, how the impacts of the Great Recession in the United States were felt all over the world. Thus, an economic disturbance in one state causes a disturbance in the whole world’s economy today.

4. Growing Terrorism 

Globalization also offers terrorists a healthy atmosphere to spread and grow. Today, terrorist networks are fast spreading and growing.

With open borders and free movement, these terrorists can move anywhere with ease.

It was only possible because of globalization that terrorists planned and attacked the twin towers of the USA in 2001 from Afghanistan (as it is believed).

Moreover, the spread of ISIS, the Taliban, and various other terrorist organizations is also a fallout of globalization. These terrorist outfits are recruiting people from across the world with great ease in today’s globalized and connected world.

Wrapping Up

Although there are multiple pros and cons of globalization and some of them have been discussed in this write-up, overall the pros of globalization outweigh the cons.

Today, we cannot even think of going back to the pre-globalized world ridden with conflicts and lack of development.

However, today, world communities together with mutual cooperation can work on eliminating the drawbacks of globalization.

We can only hope for a better future for the world through mutual cooperation of states and the strengthening of globalization.

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Globalization is the spread of technologies, businesses, philosophies, and other ideals across the world that is brought by integration among people. Globalization has created a technological revolution and expanded rules for the organization of modern capitalist economies and markets in the whole world. Globalization has its pros, but we also have drawbacks such as the vanishing of ethnic identity and the spread of imperialism.  The pros of globalization include the increased international flow of trade, capital, information, and people, increased external finance, improved technology, and political conformism. It is through globalization that societies are integrated together into a globalized collection of economic and political ideas.  However, globalization has its cons which include loss of cultural identity, westernization, the death of small businesses among others. This essay analyzes globalization by looking at its pros and cons.

Businesses are now only a mouse-click away from their customers and competitors across the globe. Globalization is aiding poor countries to catch up with rich countries that have many industries through increased technological advancement. Globalization contributes to the progress of the world because it promotes trade and distribution of knowledge

Globalization results in easy access to products that are needed by consumers because of modern technology. Increased access to products as a result of globalization has reduced prices of goods due to competition and increased food supply. Free trade is a result of globalization; free trade also allows nations and economies to specialize thus producing higher-quality goods at better prices. Manufacturers in nations that have free trade agreements benefit in the form of a larger export market. The consumer enjoys a greater choice of goods and services as a result of globalization since foreign firms easily offer their products for sale.

Labor, Globalization enables large firms to access labor because foreign companies are moving towards the developing countries to acquire the labor force. International firms hire workers from other countries to work for them by using online telecommunications. This caters to employment and income generation to the people in the host country because of the good jobs that foreign companies bring.

The competition that is brought by globalization makes companies offer a more competing value for the products that they sell to consumers. This is because the pressure that results from the competition makes firms identify more efficient ways of making use of the existing resources. The fact that companies are not limited by geographical boundaries increases competition and makes each firm to produce the best as compared to when companies enjoy the monopoly. As a result, of competition, companies face the pressure of developing innovative ways so as to stay ahead of competitors. Globalization also benefits multinational corporations, because these organizations seek to maximize the opportunities offered by the existence of certain factors of production which can be advantageously exploited in different countries. Due to their potential, they have a high degree of flexibility, which allows easy modification or change of strategies as they move from one place to another.

Liberty, globalization has a positive effect on liberty because high globalized countries have relatively more civil liberties, political rights, and economic freedom than low globalized countries. Economic integration as a result of globalization has a correlation with political and civil rights as various studies have shown. Globalization stimulates political reforms by increasing freedom of people in exercising greater control over their lives. Multinational firms have good incentives to offer competitive benefits and wages than local firms in developing countries. The Economic freedom which is brought by globalization help to nurture educate people of their rights and freedom and thus making them not to be vulnerable to dictatorial regimes. People who are economically free over time want and expect to exercise their political and civil rights and thus promote liberty in developing counties. A government that seals its citizens off from the rest of the world easily controls them and deprives them of liberty and freedom. Governments that grant its citizens freedom to take part in international commerce get it hard to deprive them of their rights, for instance, political and civil liberties.  Globalization is also crucial in spreading democratic values to developed countries and independence to developing states.

Globalization creates inequality the widening gap between the haves and the have-nots in many countries is as a result of globalization. Inequality, many countries in the world, has crept upwards as a result of globalization (Bourguignon 11) . Companies in developed countries are being moved to foreign countries where labor is cheaply available as a result of globalization. The country in which international firms are established generates less revenue, and a large share of the profits goes to the foreign firm. Companies from foreign nations make large profits thus creating a huge income gap between the developed and the host country. Liberalization which is a result of globalization has contributed to increasing inequality in the developed world. The increase in the international mobility of firms, wealth, and workers over the past years has made it harder for governments to combat inequality, for instance, wealthy individuals have become increasingly able to shift capital to countries with low tax rates thus allowing them to avoid paying more redistributive taxes in their home countries.

Second, globalization also leads to imperialism whereby the values of more powerful states take precedence in the global market. Globalization has made it easier for influential countries to advance their ideologies and agenda to developing states which are mostly dictated by developed countries. Globalization is westernization, in as much as westernization symbolizes the good and the bad not only for Western culture but also of the liberal philosophy. The integration that is going on in the world as a result of technological changes is favorable to the values and civilization of Western states. Westernization eroded the cultures of poor nations and has promoted the spread of imperialist ideals of powerful states.

Neoliberalism, globalization also introduces a global economy that is uniform as a result of the process of deregulation and liberalization because as many nations are open to the free market. It has made liberal democracy the only viable option for many countries in the world because those are the ideals that have been spread by powerful nations. Liberal democracy has become the standard for assessing the worth and competence of all societies because powerful nations see it as the best. Moral ideas that are spread because of liberalism, for instance, the defense for human rights, liberal democracy have spread in many societies and thus making neo-liberalism take precedence.

Human and ethical concerns, globalization, has compromised the ability of future generations because of the impacts it has on the environment. Generations that will come in the future may not be able to meet their needs and desires due to the continued degradation of the environment by globalization. The moral basis of ecological sustainability is the ethical position that destroying the earth through pollution is wrong. Environmental issues, for instance, global warming, and deforestation, degradation of ocean habitats, and depletion of the ozone layer have been brought about by globalization. Environmental pollution is a human concern that has been exacerbated by industrialization which has resulted from globalization. The increasing interaction between countries has led to an increase in transportation progress at all geographical levels. This has caused a wide variety of threats to the environment, for example, depletion of natural resources which are on the verge of extinction. Deforestation has created an imbalance in the environment leading to climate change and the occurrence of calamities, for instance, floods.

Labor drain, globalization also drains some countries of labor due to the movement of people looking for good jobs across borders. Movement of workers across borders leads to brain drain whereby poor countries are deprived of labor by rich countries due to the lucrative jobs that they have for skilled laborers. The movement of people across borders in search of jobs has led to the weakening of cultures for greater cultural hegemony.

Economic activities are becoming organized on a global scale giving a new international division of labor, with production, investment patterns and movements, and technology transfers as a result of globalization. However, globalization has also brought with it negative consequences such as environmental degradation, the death of small and medium businesses, loss of cultural identity, and the effect of foreign policies on domestic economic development. Globalization has pros and cons, but one certainty is that it still exists and remains a pertinent issue that has raised the eyebrow of many scholars and policymakers across the world.

Works cited

Bourguignon f. inequality and globalization. foreign affairs [serial online]. january 2016; 95(1):11-15. available from: business source complete, ipswich, ma. accessed february 24, 2016., do you have an assignment on a similar or related topic we can help you right now click on the order now button....

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Pros and Cons of Globalization for Pakistan

• March 26, 2022
• CSS , Css Essays , CSS Solved Essays , PMS , PMS Essays
• 38246 Views

CSS, PMS Essays | Pros and Cons of Globalization for Pakistan | Best for CSS, PMS Current Affairs, Pakistan Affairs, and Essay Papers

The essay is attempted by Iqra Ali on the given pattern, which Sir Syed Kazim Ali  teaches to his students, who have consistently been qualifying their CSS, PMS essays. Sir Syed Kazim Ali has been Pakistan’s top English writing and CSS, PMS essay and precis coach with the highest success rate of his students. The essay is uploaded to help other competitive aspirants learn and practice essay writing techniques and patterns.

Introduction

• Globalization has transfigured Pakistan socially, politically, and economically into uncharted territory.
• Pakistan has procured a golden opportunity to unleash its true potential due to globalization.
• Globalization has put Pakistan’s sovereignty at stake due to the over-dominance of the world’s superpowers.

What is Globalization?

• Globalization deals with the interdependence of people, companies, and countries economically, socially, and politically on a global scale.

What are the Positive Impacts of Globalization?

Economic Merits

• Increasing  exports and Foreign direct investments
• Broadening access to goods and services
• Spreading technology and innovation

Political Merits

• Suppressing  authoritative governments
• Creating awareness among the public
• Tackling environmental hazards through international laws and policies

Socio-Cultural Merits

• Promoting desi music and art throughout the world
• Increasing education opportunities
• Lifting people out of poverty

What are the Negative Impacts of Globalization?

Economic Demerits

• Destructing local business
• Exacerbating the dependency of the state’s economy on foreign investment
• Increasing  inequality of income distribution

Political Demerits

• Empowering multinational companies at the Cost of national sovereignty
• Threatening national political norms of the country
• Exacerbating conflicts among the countries for dominance

Socio-Cultural Demerits

• Demolishing the multicultural beauty of Pakistan
• Westernizing the traditional and religious norms and values
• Declining patriotism and national values

Critical Analysis Conclusion

Globalization- the unhampered flow of products, technology, information, and jobs across national borders and cultures- has transformed the world’s economy, politics, society, and law, except in Pakistan. Although the country has been one of the founding members of the World Trade Organization (WTO), globalization has not been a choice but an obligation for it under the conditions imposed by international organizations, mainly IMF and World Bank. However, having been hailed with untapped natural and young human resources and its strategic location between energy sources and consumer nations of a population of three billion, Pakistan has procured a golden opportunity to unleash its true potential due to globalization. Free trade opportunities and technological advancements have helped the country grow economically and socially. For instance, the development of the China-Pakistan Economic Corridor has enabled it to become an essential player in the geo-economic arena in South Asia. The national talent of art, music, and food has also brought international recognition in the contemporary globalized world.

On the other hand, Pakistan, being an underdeveloped country, has faced multiple challenges due to globalization, among which the threatened sovereignty is the deadliest. Since Pakistan has not made any economic or political policy without the constraints of international organizations and the superpowers it is indebted to, it is being exploited in the international market. The lack of infrastructure, inept leadership, deficient awareness of technology, and the shortage of education are also some hurdles that make the country far less competitive than other globally successful countries. Moreover, the unbridled Westernized culture- promoted vastly by media-is diminishes the essence of traditional and religious norms, taking the country’s norms from collectivism to individualism. The accelerated free movement of drug cartels and terrorists is another negative outcome of globalization in the country. Hence, globalization has made Pakistan a hybrid state, trying to balance liberalism and conservatism. It is high time some strategic changes should be made in the economic and foreign policies of the country so that the best progress could be brought about from globalization leaving behind the drawbacks. As it is aptly said by Mahbub ul Haq- a Pakistani economist, “Globalization is no longer an option; it is a fact. Pakistan must either learn to manage it far more skillfully or drown in the global cross currents.”

In literal meaning, globalization means the transformation of local or regional phenomena into global ones. Since it is a multidimensional process impacting every walk of life, its elucidation varies widely in the literature. For instance, in the economy, globalization is the process through which national economies- to a greater or a lesser extent- absorb into a single global economy. Likewise, cultural anthropologists define globalization as a global flow of information, commodities, images, etc., to flatten out the cultural differences between nations, individuals, and regions. Global warming is the inclination of national policy-making concerning international organizations on political grounds. According to John B. Larson, an American politician and businessman, “ Globalization is not a monolithic force but an evolving set of consequences – good, bad, and unintended. It is a new reality.”  So, it is not wrong to say that globalization is the most globalized term.

Covering a wide range of distinct socio-politico-economic trends, globalization has greatly influenced Pakistan negatively and positively. To begin with the pros, it has revolutionized Pakistan’s economy the most. The free market economy has bolstered the size of the country’s market for exports and Foreign Direct Investment, which has aided development. Like many underdeveloped countries, Pakistan’s economy has remained highly regulated and protected for the first three decades of its establishment. However, constrained by the domestic economic situation, the pressure of international organizations, and the conditions of the world economy, Pakistan started liberalizing its economy in the 1980s. Hence, today Pakistan’s economy is more liberal than it was a few decades ago, with an increasing role of the private sector in economic development. The development of multiple foreign projects in the country- including the China-Pakistan Economic Corridor and the increasing rate of immigration of Pakistani natives to other countries- is the overt manifestation of the country’s free-market economy, which has not only increased the real capital of the country but also contributed in its institutional developments. Another positive effect of globalization is greater and easier access to products at increasingly cheaper rates. Since liberalization allows multiple national and international companies to sell goods in the country, it has created a competitive environment for the survival and success of businesses. Hence, People have procured the most from free trade since they can buy goods at more affordable rates and, thus, a higher standard of living. Additionally, globalization has increased access to technology and innovation in Pakistan. Through the rapid spread of technology in the region, there is more room for competitive domestic industries to produce quality goods for the locals and export. Putting it briefly, globalization has brought miraculous advancements in the economic progress of Pakistan.

Moving Further, Globalization- through the quick availability of the internet and interstate communication- has turned the wave of the political culture of Pakistan. It has changed the state-centric views of politics and increased democratic cooperation. Although Pakistan has been a democratic country since its inception, the inept leadership, prevailed corruption, and unnecessary military interventions have made it more of an authoritative government, leaving democracy in the name. However, the globalized media approach has made the citizens aware of their rights and enabled them to revolt against authoritarian rulers. Hence, the rules and policies are now more transparent, and the leaders are more accountable for their performance. Along with national awareness, globalization has helped bring awareness to international issues, including environmental problems. The agreements are made through international non-governmental organizations. Being one of the biggest endorsers of environmental policies, Pakistan has helped a lot in managing climate problems. Recently, the country has made a record in the world’s most ambitious afforestation efforts through a Ten Billion Tree Tsunami spread Policy over Five years. As a result, it has gained an exemplary position for saving the environment worldwide, all thanks to globalization. In short, globalization is not the hope of the people yearning for their rights only, but it has also brought significant awareness in sorting out international problems through international collaborations. 

Besides, globalization has introduced the culture of Pakistan all over the world, creating a colourful image of the country internationally. The land, of pure-like every society- has its own rich and unique culture, traditions, norms, and way of life. Many deep-rooted desi traditions, cuisines, art, and music, run in the blood of Pakistani nationals. They have preserved their culture throughout history and manifested it worldwide through globalization. The Pakistani music genres of folk music, traditional Ghazals, and synchronized Qawwali and Western music by the world-renowned Nusrat Fateh Ali Khan are recognized beyond boundaries. Likewise, border-free travelling has opened the way for students to travel to other counties for higher and more competitive education in many of the world’s best universities. Since there becomes a great chance for people to learn, work, and earn equally without geographical boundaries, globalization-resultantly-has helped alleviate global poverty. Briefly, globalization has not only introduced the culture of Pakistan to the world but has also made education and job opportunities easily available for the state’s people.  

 “Globalization has changed us into a company that searches the world, not just to sell or to source, but to find intellectual capital – the world’s best talents and greatest ideas .” -Jack Welch, an American business executive

Although globalization has multiple positive impacts, it is every benefit comes with a caveat. It has posed significant risks to developing countries, including Pakistan, by greatly benefiting Multinational corporations and prosperous governments. First, the threat of globalization leads to the domestic loss of business and jobs. In Pakistan, living depends on tech-based products imported from developed countries. Additionally, foreign-invested companies in the already low-employed country tend to provide international goods, thus, destroying the local business. Thus, the state’s economy depends on foreign direct investments, imports, or even debts with high-interest rates. According to the World Bank, the external debt of Pakistan has been raised to sixty-six million USD from 2002 until 2021. As a result, the country has been bound to make its economic and foreign policies under the obligations of the global economy regulating bodies like the World Bank and the International Monterey Fund. Additionally, globalization has been disastrous for the country’s working class. They are exploited to work at significantly lower wages in both the foreign-invested business within the country and as labour in other countries. Advancement in technology has further aggravated the risk of unemployment for workers. Hence, economic globalization has led to income inequality, making Pakistan more dependent on other powers. As it is aptly said by Winnie Byanyima, Executive Director of Under-Secretary-General of the United Nations- UNAIDS, “The widening gap between rich and poor is not just a natural phenomenon . It is a sign that much of what we have been doing, especially in terms of models of economic growth, has been wrong.” 

On political grounds, one of the most preponderant demerits of globalization is the threatened sovereignty of the state. National sovereignty is at stake due to unnecessary interventions of international organizations and multinational companies in state affairs. Pakistan is a highly affected victim of politically and economically stable international political alliances due to its significant economic and significant dependency on international organizations and world powers. As a result, the country’s leaders are made to feel that they lack decision-making ability and are persuaded to modify the structure of their government. Consequently, the stronger nations are trying to overrule the land of the pure by being directly or indirectly involved in its political independence as a state. For instance, America has been using the land of Pakistan for its vested interest in the Afghan war and, subsequently, in the war on terror. Hence, globalization has demolished the national political structure of the state and led to an erosion of its national sovereignty, thus, destroying its peace. 

Last but not least, globalization has badly impacted the socio-cultural diversity of Pakistan. It has hurt the state’s religious and ethical norms and demolished its multicultural beauty. For instance, the national dress of Pakistan is Shalwar Kameez. However, the Westernization of men’s and women’s dressing is degrading the country’s culture. Likewise, McDonaldization, fast-food culture, is widespread in the streets and shopping malls of the country despite its deep-rooted desi cuisine. Hence, the idea of flattened global culture has now become the imposition of Western values, beliefs, and norms on the rest of the world. Consequently, psychological problems like Xenocentrism- the belief that other cultures are superior to one’s own- and Ethnophaulism- the hatred belief for one’s nation- have drastically increased in the country. All thanks are due to globalization. Above all, it has diminished the importance of nationalism in the already shattered ethnicity of Pakistan. People from all provinces who are ready to kill their countrymen belonging to a sect and culture different from theirs are eager to adopt the Western culture. Hence, globalization creates an imbalance between patriotism and globalism. To put it briefly, globalization has badly ruined Pakistan’s cultural norms and values. 

Critically, globalization is a dichotomy with both comforts and harms. However, for Pakistan, the benefits accrued from globalization are nearly nothing. It has been a sour phenomenon for its youth looking for a job since the unemployment rate is continuously growing. Additionally, infrastructure and trade have not exhibited any significant performance after globalization. Poverty incidences are also reported to be increased. Above all, the prevalent Western culture has demolished the religious and cultural norms of the Islamic Republic of Pakistan. Hence, globalization is not a panacea for whole-lot-of problems that Pakistan faces. Nonetheless, Pakistan must educate and train its people on every ground to benefit from globalization.

In a nutshell, globalization has brought multiple transformations in Pakistan. Despite being a latecomer to be encompassed in the globalized world, the country, with its geographically important location at the crossroads separating South Asia from Central Asia and the Middle East, has gained a lot of political, social, and above all economic benefits from the globalized world. However, it could not actively participate in the growing world trade of goods and services, foreign investment, technological advancements, and skill supply. The serious concern is the underdevelopment of the country’s human resources and the low skill intensity of its labour force. Unless the quality and outreach of education, training, literacy, skills, and health status are significantly improved, the country will remain handicapped in maximizing the benefits of globalization. Therefore, the challenge to be successful in the shrivelled world is not beyond the reach of Pakistan; instead, it can be achieved easily with smart policy-making and determined collective effort.

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