Globalisation
Globalisation is a complicated and evolving process and has become one of the most debated issues around the globe. The topic is so debatable that there is no one conventional definition of globalisation. However it can be narrowly defined as "the inexorable integration of markets, nation states, and technologies...in a way that is enabling individuals, corporations and nation states to reach around the world, farther, faster, deeper and cheaper than ever before."(Griffin 2007)
There are many arguments in favour and against, both for the developed world and the undeveloped world. There is no argument that levels of income disparity and poverty are significant between advanced and emerging countries and Globalisation has started to bridge that gap.
In regards to employment many have argued that the process of globalisation leads to relocation of work to developing countries from developed, which in effect increases unemployment
Good things about Globalisation
1. International Trade keeps prices low and quality high. Anytime a country in the past has tried to be self sufficient and not partake in the global markets, they find that their businesses become inefficient due to a lack of competition, prices rise, their products lack innovation, and they end up with hyperinflation.
2. Globalization can bring wealth to some of the world's poor. For example, much of southeast Asia was terribly poor a few decades ago; thanks to globalization and international trade many of these countries have experienced annual growth in the double digits and many of those people are now much better off than their parents were a generation ago.
3. Globalization can help bring world peace. As every country on the planet becomes more interconnected with every other country, there is a serious incentive for all of the involved to keep the peace. Thomas Friedman, in his book "The Lexus and the Olive Tree", goes so far as to discuss the "Golden Arches" theory of world peace--he
There are many arguments in favour and against, both for the developed world and the undeveloped world. There is no argument that levels of income disparity and poverty are significant between advanced and emerging countries and Globalisation has started to bridge that gap.
In regards to employment many have argued that the process of globalisation leads to relocation of work to developing countries from developed, which in effect increases unemployment
Good things about Globalisation
1. International Trade keeps prices low and quality high. Anytime a country in the past has tried to be self sufficient and not partake in the global markets, they find that their businesses become inefficient due to a lack of competition, prices rise, their products lack innovation, and they end up with hyperinflation.
2. Globalization can bring wealth to some of the world's poor. For example, much of southeast Asia was terribly poor a few decades ago; thanks to globalization and international trade many of these countries have experienced annual growth in the double digits and many of those people are now much better off than their parents were a generation ago.
3. Globalization can help bring world peace. As every country on the planet becomes more interconnected with every other country, there is a serious incentive for all of the involved to keep the peace. Thomas Friedman, in his book "The Lexus and the Olive Tree", goes so far as to discuss the "Golden Arches" theory of world peace--he