Essay Example on Pros and Cons of Globalization

Globalization represents different things to different people. The important issues, promises, and the pitfalls that emanate from globalization patterns over the last three decades have raised major points of contentions between those who view globalization positively and those who are less sanguine. Some people argue that globalization has potential to make the world a better living place by for instance solving the deep-seated problems such as poverty and unemployment by facilitating free trade, competition between countries, provision of poor countries through the infusion of technology and foreign capital, promotion of a worldwide market for both companies and consumers, the creation of world power instead of compartmentalized power sectors, promotion of influx information between countries, having cultural intermingling, promoting social relationship, and facilitating labor movement from one country to another.

However, the contention is rising because the less sanguine argue differently by putting it clear that globalization has been in place to only benefit the rich by making them richer while on the other hand, making the non-rich poorer (Greenspan, 2004). According to them, globalization is wonderful to the owners, the investors and the managers but hell to nature and workers. There are barriers to globalization, to the developed countries jobs are being lost and consequently, being transferred to the lower cost countries. On the other hand, multicultural corporations are exercising unfair working conditions and they dont have any concern for the environment, are practicing social injustice, mismanaging natural resources and above all, are influencing multinational corporations. According to them, globalization is an economic Tsunami that will sweep the entire planet in a short while.

The promises of globalization have remained wide. For instance, after a liberalized trade and the movement of labor globally, unprecedented growth of the world economy will be and has been experienced. In the last three decades, exports from one country to another have continued to increase. This has been as a result of the integration of workers from the developing countries and the emerging markets hence producing a global workforce that has been beneficial and will still continue to of benefit to the global economies. As businesses continue to adopt the global model and expanding their international presence while making utilization of the global labor supply, a lot has and will be promised. There will be innovative achievements. Consumers all around the world will continue to benefit from the increased competition and the availability of services and goods with a lowered price regardless of the socioeconomic stratum.

Globalization has raised concerns among certain populations who say that all is not perfect as far as the issue of globalization is concerned. Globalization is improving neither is it improving the lives of those who need its promised benefits. There is the growing divide between the haves and the have-nots. This has left a growing mass of poverty and even some people having to survive in less than a dollar in a single day. It is unfair that the so-called globalization has failed to ensure its promised stability and reduce poverty. On the other hand, globalization has brought about job loss among populations, has unsecured lives and has eroded culture as well. For the poor populations, globalization is not working for them at all (Geneva, 1996).

The world societies have tried their level best to ensure that the issues of globalization especially those that have been raised by certain populations have been alleviated. Such has mostly be seen through the protection of human rights. For instance, through the framework of the international rights law, international movements are counterattacking the negative side of globalization in technology and international trade. There is the endeavor to keep people in improved working conditions and improved standards of livings. Additionally, there are efforts to avoid the competitive distortions as a result of globalization and instead, protect the fundamental rights of workers by raising the labor standards. Through the framework of the international trade law, the world societies have as well tried to alleviate the problems of globalization by, for instance, having contemporary legal and institutional framework. The regimes of the international trade are being conducted to ensure that globalization incorporates both the haves and the have-nots.

The future is not safe with such problems where for instance poverty is increasing among the poor and the rich are continuing to be rich every single day (Langley, 1986). The future will be, for instance, be characterized by diseases among the poor. Exploitation of labor will be part of future where workers will continue to be kept under inhuman working conditions with a high ignorance of the safety conditions. In future, if the whole concept of globalization will not be looked into, and appropriate measures are taken, social welfare schemes among people will be impossible due to the expected increase of pressure in the developed countries as a result of economic ramifications of globalization, deficits and job losses.

Conclusively, it is hard to stop globalization because regardless of its bad aspects, it still has its good sides. Therefore, appropriate interventions are the most important in this case so as to make globalization better. Many things need to be done to slow globalization and make it more equitable so as to secure both the present and the future. For instance, issues of leadership, balanced trade, trade agreements, and enforcement of rules need to be revisited once more if at all globalization has to incorporate all.

References

Geneva. (1996). Report of the United Nations Working Group: Indigenous Populations during its fourteenth session.

Greenspan, A. (2004). Statements and speeches of Alan Greenspan.

Langley, W. (1986). Encyclopedia of human rights issues since 1945. Westport, CT: Greenwood Press. .