Is Globalisation A Benign Or A Harmful Process?

1705 words - 7 pages

Is Globalisation a Benign or a Harmful Process?

Globalisation and how it changes politics.
There are many ways to analyse globalisation. In this essay I will attempt to analyse globalisation by looking at economic factors as well as how impacts on international and domestic politics as well as communication. I will look at how globalisation has influenced the modern world and how some people disagree with globalisation.
“The term globalization--the exchange of products, information, and culture that connects economies around the world is heard more and more frequently” (Dwain, 2012)
Dwain states that globalization connects us all around the world. The aspects of globalization are that we “connect” our economy together as well as products, culture, trade and population. Globalization is believed to raise the global economy, share financial interests, increase travel and communications and make a free trade market. Some Historians believe globalization began in 1492 where many believe that it began earlier.
“Economic globalisation is defined as the mechanisms by which the national economy is linked to global economic activities.”(Grant Richard, 1999) The reason why economic factors are being taken into consideration is because money and trade have a large influence in politics as well as the economic market which alters political decisions. Joseph Stiglitz an economist believes that globalisation doesn’t reduce inequality but rather promote it.
Some nations such as South Africa and the Caribbean have been forced into the free market by larger economies that need nations that are poorer in order to produce primary and secondary products whereas America produces tertiary products which increase their economic profit a lot more than poorer nations. “Taking their lead from Karl Marx, dependency and world systems theorists argue that the spread of world capitalism has created a class‐like structure in which a core group of powerful states manipulate and exploit less powerful economies, in the same way that capitalists within nations create and exploit the working classes.” (C Barnes, 2010) Poorer nations do this to get their share of loans from the International Monetary Fund which “is an organization of 188 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.”(IMF)
“This is where the anti-globalisation side gets stuck in. If these practices replace domestic economic life with an economy that is heavily influenced or controlled from overseas, then the creation of a globalised economic model and the process of globalisation can also be seen as a surrender of power to the corporations, or a means of keeping poorer nations in their place.”(Simon Jeffery, 2002). Poorer nations take on most of the manual low paying labour as they don’t have the economic stability or resources. Global...

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