Saturday, September 7, 2019

Globalization and Its Enemies Article Example | Topics and Well Written Essays - 1500 words

Globalization and Its Enemies - Article Example There are various debates regarding the origin, driving forces, and transformative powers of transformation (Guttal 523). Supporters and critics of globalization have agreed that advancement in technology and communication have made globalization possible. For instance, banking institutions in Britain are able to reach and communicate with their counterparts in Asia, America and other parts of the world. Further, internet allows currencies to be traded worldwide. There is disagreement on the powers, natures, and origins of globalization (Guttal 523). Is it civilizing or destructive? Is it politically neutral or ideologically driven? Some people argue that globalization is driven by greed and interest to accumulate and control material wealth, for which capitalism provides a rational operational framework and ideology. They argue that globalization is a concept invented to favor the elite. In their views, factors such as global migration from one country to another have led to increas ed security lapses (Guttal 524). They have attributed globalization to environmental degradation, which has resulted to the sprouting of slums in developing countries. Critics of globalization insist that globalization has resulted to uneven distribution of the wealth, which has resulted to selective economic booms in the world. They view globalization as capitalist process that has its origins far back as the industrial revolution era in Europe and has grown since the disintegration of the soviet union as a suitable form of economic organization. Globalization is a force of capitalist expansion and modernization, incorporating the integration of all economic activities into the world market in order to create wealth for the nations. Guttal (524) has argued that to counter one another’s assertions about the merits and demerits of globalization, both the critics and the proponents have fronted several arguments in relation to the economic, political, and social aspects of glob alization. Aspects of the economy that are majorly associated with globalization include investment, trade, and migration. This enables traders to easily access goods and even services in a more broad way than it used to be in the past years. Further, new and expanded global opportunities boosts the global economy as different kinds of exchanges taking place between states encourages positive global competition thus resulting in simultaneous global economic growth (Guttal 524). As Guttal states in the article, critics have held that free trade posses danger to domestic industries. In addition, the concept of globalization has led to the defragmentation of the environment and job loss. They assert that by countries accepting to get into foreign and regional financial schemes, they automatically lose their financial sovereignty and in turn, embrace foreign policies that may be contrary to the unique needs of its citizens. The other view is that multinational corporations may acquire e xcessive power in a particular country, which may in return compromise the needs of the citizens in general. Proponents perceive that, globalization has played a key role especially in the political sphere an argument that has received major backing from globalization nationalists.

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