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. The threats in Western democracy to the post-war globalist consensus have never been stronger. Globalization 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. 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. Increased globalization has been linked to various environmental challenges, many of which are serious, including:. While such issues are governed by existing or proposed laws and regulations, businesses have made environmental concerns and sustainability a priority by, for example, embracing the tenets of the triple bottom line and the idea of corporate social responsibility.
The world is never going to abandon globalization. This acceleration of economic exchanges has led to strong global economic growth. It fostered as well a rapid global industrial development that allowed the rapid development of many of the technologies and commodities we have available nowadays.
Knowledge became easily shared and international cooperation among the brightest minds speeded things up. According to some analysts, globalization has also contributed to improving global economic conditions, creating much economic wealth thas was, nevertheless, unequally distributed — more information ahead.
At the same time, finance also became globalized. From the s, driven by neo-liberal policies, the world of finance gradually opened. This financial globalization has contributed to the rise of a global financial market in which contracts and capital exchanges have multiplied. Together with economic and financial globalization, there has obviously also been cultural globalization.
Indeed, the multiplication of economic and financial exchanges has been followed by an increase in human exchanges such as migration, expatriation or traveling.
These human exchanges have contributed to the development of cultural exchanges. This means that different customs and habits shared among local communities have been shared among communities that used to have different procedures and even different beliefs.
Good examples of cultural globalization are, for instance, the trading of commodities such as coffee or avocados. Coffee is said to be originally from Ethiopia and consumed in the Arabid region. Nonetheless, due to commercial trades after the 11th century, it is nowadays known as a globally consumed commodity. Avocados , for instance, grown mostly under the tropical temperatures of Mexico, the Dominican Republic or Peru.
They started by being produced in small quantities to supply the local populations but today guacamole or avocado toasts are common in meals all over the world. At the same time, books, movies, and music are now instantaneously available all around the world thanks to the development of the digital world and the power of the internet.
These are perhaps the greatest contributors to the speed at which cultural exchanges and globalization are happening. Globalization is a complex phenomenon. As such, it has a considerable influence on several areas of contemporary societies.
From languages to traditions or even specific industries. Despite its benefits, the economic growth driven by globalization has not been done without awakening criticism. The consequences of globalization are far from homogeneous: income inequalities, disproportional wealth and trades that benefit parties differently.
Many critics have also pointed out that globalization has negative effects on the environment. Thus, the massive development of transport that has been the basis of globalization is also responsible for serious environmental problems such as greenhouse gas emissions, global warming or air pollution. At the same time, global economic growth and industrial productivity are both the driving force and the major consequences of globalization.
They also have big environmental consequences as they contribute to the depletion of natural resources, deforestation and the destruction of ecosystems and loss of biodiversity. The worldwide distribution of goods is also creating a big garbage problem, especially on what concerns plastic pollution. Globalization affects all sectors of activity to a greater or lesser extent.
By doing so, its gap with issues that have to do with sustainable development and corporate social responsibility is short. By promoting large-scale industrial production and the globalized circulation of goods, globalization is sometimes opposed to concepts such as resource savings, energy savings or the limitation of greenhouse gases.
As a result, critics of globalization often argue that it contributes to accelerating climate change and that it does not respect the principles of ecology. Moreover, the ideologies of economic growth and the constant pursuit of productivity that come along with globalization, also make it difficult to design a sustainable economy based on resilience. On the other hand, globalization is also needed for the transitioning to a more sustainable world, since only a global synergy would really be able to allow a real ecological transition.
Issues such as global warming indeed require a coordinated response from all global players: fight against CO2 emissions, reduction of waste, a transition to renewable energies. The dissemination of green ideas also depends on the ability of committed actors to make them heard globally.
From a globalization perspective, regionalization means a world that is less interconnected and has a stronger regional focus. Regionalization can also be analyzed from a corporate perspective. Many world leaders, decision-makers and influential people have spoken about globalization. Some stand out its positive benefits and others focus deeper on its negative effects. Find below some of the most interesting quotes on this issue.
Globalization quote by the former U. S President Bill Clinton?? No generation has had the opportunity, as we now have, to build a global economy that leaves no-one behind.
It is a wonderful opportunity, but also a profound responsibility. Globalization quote by Barack Obama , former U.
Globalization is a fact, because of technology, because of an integrated global supply chain, because of changes in transportation. We can create wealth together. The global economy is not a zero-sum game. Globalization quote by the spiritual leader Dalai Lama?? Globalization quote by John Lennon, member of the music band The Beatles?? Nothing to kill or die for. And no religion, too. Imagine all the people. Living life in peace.
I hope someday you will join us. And the world will be as one. 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. I would like to make the argument that the US should try a lot harder to swim in the snow and stay on top.
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May 6, , pm EDT. Reinventing America. Mike Collins.
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