Globalization is the theory that a single world order has been created out of social, cultural, and economic relationships between organizations located around the world. Globalization can be a good thing and it can also be a bad thing. With globalization, each nation has the advantage of coming together as one. With this advantage, the nations are able to communicate, which allows a better understanding and broader vision of each nation. Economies in other nations are growing because of globalization. With trade, other nations have access to new technologies. For example, if someone goes on the internet in the United States and goes on facebook or one of those social pages, he or she will be able to connect with people living in Egypt or China. With this said, globalization can also reduce cultural barriers because multiculturalism is spreading due to the increase in tourism, trade, and technology.
There are, however, disadvantages that comes along with globalization. Some nations are losing their culture. Wealthy countries produce things such as clothing, technology, music, and movies which effects some nations because they are trying to be like the wealthy countries. This leads me into the other disadvantage which is competition. Even though globalization is intended to bring the nations together, it seems that some nations are trying be better than others.This causes a nation to have more cheap labors to work so that they can continue to make trade goods so that they can trade with other nations to make themselves better. So as you can see, globalization has its ups and its downs but it is up to the nations to end the differences and become one big happy family.
Let me be first to say, I appreciate this post. You are among the few to tackle globalization and you managed to provide all the fundamental information needed to comprehend the topic. You even discussed things from our debate. Good job Nana :)
ReplyDeleteWow, very thorough. It seems like you really have a grasp on the positives and negatives of globalization. kudos.
ReplyDeleteI agree that the nation needs to come together and fix this situation. When you weigh the pros and cons both sides are even. Adding background information was a good idea, so when anyone reads your post they will be able to comprehend your topic. This is very well thought out!
ReplyDeleteNice, informative post! Like you said, Globalization really helps to bring the world together and create this sense of unity, but at the same time the negative effects are so horrible!
ReplyDeleteSeems like you have a grasp of what Globalization is. Very well written :)
ReplyDeleteOnce I saw all the previous comments on your blog I had to read to see if it was better than mine, since I also wrote on Globalization. Effectively it is way better than mine... :( you clearly explained both sides to globalization which I think I did not do, lol
ReplyDeleteI like the picture and I like how you put pros and cons of globalization. You shex a new light about the competition globalization causes as well which is something I didn't even consider. Great job and lol at David's comment.
ReplyDeleteNicely done! Great comments, as well.
ReplyDeleteYou seem to have missed the prime disadvantage of globalization which is that interconnected systems fail as a unit. If the Royal Bank of Scotland were not the third largest lender to US sub-prime mortgagees then the British economy would still be prosperous. If the Americans has not been forced to get rid of the Glas Steagal Act regulating banks because the British had deregulated their banks then the subprime crisis would never have happened. Had the 17 countries in Europe not signed up to the Eurozone then they would all be recovering.
ReplyDeleteGlobalization is a bad idea even as a concept. The global economy is stable as a large number of semi-independent economies that interact with each other. Stability depends on this. It is unstable as a single, fully interconnected, global economy. Globalization was the source of the Great Depression (See Globalization and Great depressions) even though there was no word for this evil in those days. Will economists never learn?