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Globalization Essay

1000 words - 4 pages

Globalization is a very controversial issue that has attracted massive attention in the past few decades. Globalization has impacted people across the world in personal, social, political and economic fields. The effects of globalization are numerous. People across one country today eat from the same restaurants, wear the same clothes, speak the same language and drive the same car as people from the opposite side of the globe. Instant communication with people is easier today than ever. The consequences of this rapid globalization are subject to interpretation. People, in general, tend to be biased about the net results of globalization. World leaders, however, have taken tangible steps towards encouraging a peaceful globalization. Examples of such world leaders include Saudi Arabia’s King Abdullah’s Inter Faith dialogue, the European Union's visa granting for more people in the Middle East to visit European nations and educational programs like student exchange programs between different countries around the world. Nevertheless, people are still divided about the effects and prudence of globalization. There are two sides to the argument surrounding globalization. Both sides have valid logical reasons for their beliefs. However, even though globalization has both positive and negative aspects, its overall impact on the world is beneficial.

There are many positive aspects to globalization. The first benefit of globalization is establishment of free market economies. In today’s business world, people have unlimited options regarding the products and services they can use in any field. The costs of labor, land, capital and raw material are significantly lower than they used to be during the pre-globalization era due to international competition. Furthermore, borders have been widely opened for the free flow of products and services across nations and continents. Moreover, regulatory institutes around the world have facilitated the establishment of new businesses to boost their economies and standards of living. Pew Global Attitudes Project (2007) writes in their article, "World Publics Welcome Global Trade – But Not Immigration," that ''In all 47 nations included in the survey, large majorities believe that international trade is benefiting their countries.'' In other words, people across different cultures and religions see the tangible advantages that globalization is presenting. This shows that people strongly see the fruits of this free flow of international trade. Consequently, the economic benefits of globalization are widely observed and supported by people across the globe.

The second benefit of globalization is that the new consumer demand leads to massive growth. As the world’s economies opened up, people got the opportunity to purchase goods and services created by manufacturers in different nations and different cultures. This has fueled demand for new products and services. Knickerbocker (2004) writes in his article "If Poor Get...

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