According to the International Monetary Fund (2002), âglobalisation is defined as the result of human innovation and technological progressâ. As such phenomenon has increasingly become a focus of intense discussions, it is worth examining its impact on both developed and developing countries. On the one hand, opponents of such international transformation point to its concentration of wealth and environmental degradation, which lead to the widening gap between rich countries and poor countries. On the other hand, those who support this phenomenon believe that it reduces poverty and reactivate the economy. These advantages are related to the lowering of trade barriers by which developing countries can have access to better wages, brought by multinational companies, and also to technological development. So, weighing the benefits and drawbacks of globalisation, it is clear to me that it is only favourable to those who are economically capable of following its direction.
Decide the answer 5 yrs from now. It won't be the answer we'd have wished for. All this borrowing and gluttonous consumption will have its price.
It depends on the definition of 'globalism'. If it is free and open trade among countries on equal ground then yes. However, if it is the version that we have today, then absolutely no. It's good for the corporations, bad for everyone else.
Excellent Commentary......... One view of trying to reason whether or not globalization is a good thing...is to first reason what is actually good... What is actually good is that the price of the paper that is listed on an exchange has a chance to increase in value...and when there is an increase in value...then there is more wealth available to spread around.... This is the key point...If the wealth is spread around to both the displaced labor..and the new labor....then globalization is in full fruition... If the displaced simply lose out to fewer and stronger hands...then the gains in wealth due to more efficient costs are simply not spread around....and could handily be viewed as a negative phenomena.... ........................................................................................................ The positive about globalization is the clear increase in economic efficiencies... However one should view that some values are simply not measured in how much more paper is worth....but takes into account other types of demand issues such as self satisfaction...which is a very real and worthy issue... And perhaps when all said and done...one could actually put numbers on losses that are not accounted for ...because they are overlooked and not properly accounted for.....