How Globalization Effects Third World Countries

2750 words - 11 pages

Globalization refers to the ways in which capital; people, information and culture can now flow back and forth across national borders with a greater ease and greater rapidity than they had before this new phenomenon. Globalization, the growing integration of economies and societies around the world, was a word hardly used only a few years ago and now I doubt if there is a single country in the world where globalization isn't being discussed. The global spread of the term is evidence that something very new is happening in the world but I'm not saying this new term is beneficial for all.This phenomenon has both positive and negative effects on third world countries but in the end it seems like only one party is benefiting, the rich. " The poor are thus being doubly denied their right to life first when the resources that sustain them are taken away from them in a free trade world, and then when the pollution and waste of the global economy are unequally and unjustly piled on them." (Global Capitalism p.128)Though globalization has been one of the most hotly debated topics in international economics over the past few years there has been some bright sides. Rapid growth and poverty reduction in China, India, and other countries that were poor 20 years ago, has been a positive aspect of globalization. Another positive attribute according to Thomas l. Friedman, in his book, The Lexus and the Olive Tree, is globalization "increases the incentives for not making war in more ways than in any previous era in modern history.""To begin, it is important to explain the meaning of The Lexus and the Olive Tree. The Lexus refers to technological advancement and growth, where the Olive Tree refers to traditional roots and stability. The basic premise of the book is the conflict between the two within cultures, economies, and individuals and how it if possible, at all, to bring the two camps together." (Friedman p.31-34)But globalization has also generated significant international opposition over concerns that it has increased inequality and environmental degradation. The proponents of globalization cite numerous benefits to be gained by underdeveloped countries though greater access to the goods and services that transnational companies can provide. Anti-globalization activists, on the other hand, point to many examples in the developing world where globalization has robbed indigenous populations of traditionally held land or water rights, disrupted cultural and social values, and disturbed lifestyles.Problem StatementWhat I intend to examine in this paper is the comparison trend of capitalism in the late 19th - early 20th century with the trend of globalization today. Explaining that globalization of the world economy has the potential to bring both great benefit and great hardship to third world populations, but like capitalism, globalization without proper checks and balances could become a runaway force, knowing no moral or ethical boundaries. Though...

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