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Globalization and its Impact on the World
A phenomenon that gathered speed after World War II, globalization has tremendously impacted the international economy, society, and culture by enabling greater interconnectedness and cross-border exchange of people and ideas. Globalization is a complex phenomenon that has benefited developed countries economically while unfairly distributing wealth to underdeveloped nations and disenfranchising people inside rich nations.
Increased cross-border trade in products and services is one noticeable effect of globalization, which helps developing nations with open trade and international investment experience economic progress. Less developed countries in Africa and Latin America have encountered distinct economic advantages during their development compared to more developed nations. Poverty and its effects continue to pose a significant challenge in these areas.
Goods Across the World by Bridgette Byrd OConnor highlights the impact of globalization on the retail sector. Cross-border trade has experienced substantial expansion, enabling retailers to source goods globally (OConnor, 2019a). Outsourcing retail jobs to countries with lower labor costs has resulted in unemployment among retail workers, despite the benefit of a more comprehensive selection of products at lower consumer prices.
The World Trade Organization (WTO), established in 1995, aims to promote international trade and remove trade barriers among nations. The WTO has effectively decreased tariffs and other trade obstacles, but some argue it prioritizes developed nations over developing ones (OConnor, 2019c). Developing countries continue to rely on primary commodity exports, such as oil and minerals, while developed nations profit from the trade of value-added products.
The phenomenon of the spiky world provides evidence for the assertion that globalization has not yielded uniform benefits for all individuals. According to OConnors (2019b) argument in Is the World Flat or Spiky? , globalization has resulted in the clustering of economic activity in select global cities, including New York, London, and Tokyo. Cities are now global hubs for business, innovation, and culture, drawing highly skilled and accomplished individuals from diverse regions (OConnor, 2019b). Underdeveloped regions in developing countries need to be addressed by the global economy.
On the other hand, with the growing interconnectedness in the world, various problems appear that must be solved by joint efforts. First of all, this is reflected in the growing awareness reflected in the need to implement a more systematic and safe environmental policy (Dalby, 2013). In conditions of strong codependency in the world, it is necessary to take into account how each aspect of activity affects the environment (Dalby, 2013). Many opponents of globalization point out that people face problems that were caused by it and can lead to a significant deterioration in peoples lives (Pinker, 2018). However, in fact, there is rapid development in the world, improving the health and happiness of people in many parts of the world (Pinker, 2018). This is due to the fact that the population all over the planet actively interacts and shares knowledge that allows them to adhere to stability and security. However, do not forget that any human action has a response in the environment, therefore it is important to observe the natural balance.
In conclusion, globalization has brought significant changes and advancements to our world. Globalization has enabled international trade, cultural exchange, and technological progress, increasing prosperity and interconnectedness. Nevertheless, it has intensified economic disparity, political unrest, and ecological deterioration. Policymakers must consider the adverse effects of globalization and strive to establish a fair and sustainable global framework. Individuals should promote ethical consumption and advocate for social and environmental justice. Solving the challenges presented by globalization is necessary to establish a fair and impartial world for everyone.
Works Cited
Dalby, Simon. Geographies of Global Environmental Security. Falkner, 2013.
OConnor, Bridgette Byrd. Goods Across the World. World History Project, 2019a.
OConnor, Bridgette Byrd. Is the World Flat or Spiky? World History Project, 2019b.
OConnor, Bridgette Byrd. WTO Resistance. World History Project, 2019c.
Pinker, Steven. Enlightenment Now: The Case for Reason, Science, Humanism, and Progress. Penguin, 2018.
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