Advocates of globalisation say that globalisation brings the first real chance of prosperity to the impoverished corners of the world. Opponents say globalisation is the cause of growing poverty and inequality on the planet. Those in the middle see how unbridled globalisation could wreak havoc on some while simultaneously opening the doors of opportunity to others. But what actually is globalisation?
What is globalisation?
The term globalisation was originally started in the 1960's to describe international capital flows. Today however, globalisation is not just capital flow, but a revolution to make individual nations part of a global village, under one legislation. Basically, it's to remove the distance between countries. As a result, it's also the restructuring of everything, from politics, to the economy, to make it part of a global economy. The defining characteristic of globalisation is a free market capitalism and trade liberalisation. The consequences of these changed however, have not been discussed and are under heated debate. While some people think of globalisation as primarily a synonym for global business, it is much more than that. The same forces that allow businesses to operate as if national borders did not exist also allow social activists, labour organizers, journalists, academics, and many others to work on a global stage. With the technological revolution, it is now a lot easier to do so.
Organisations such as the World Trade Organisation (WTO), the International Monetary Fund (MTF) and the United Nations help police globalisation, but have not discussed the consequences of it politically or culturally.
What are some of the benefits of globalisation as put forward by the pro-globalisation movement?
At a global level, globalisation has many benefits. For some people, it has been seen as an alleviation of poverty. One such example is the use of labour in 3rd world countries. At world level, globalisation creates hundreds of millions of jobs, not unemployment. These are mainly in the developing countries, but they are only marginally at the expense of jobs in advanced countries. As a result, the extra income would go to food and an improved lifestyle for some of the people living in 3rd world countries. For an example, the Japanese motor industry, Honda is manufactured in Thailand, and the U.S. Nike sports wear clothing are manufactured in China and South East Asian countries. This can create more jobs in the poorer countries and it also helps the wealthier countries. Due to the lower labour costs, larger quantities can be produced at a lower price. According to the World Bank report, it has said that developing countries have experienced high income growth, longer life expectancy, better schooling, higher wages and fewer people living in poverty since becoming integrated in the global economy.
Environmental protection could also be pursued at a global level. Where international impacts, international cooperation and...