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Globalization – a Useful or a Dangerous Idea?


Globalization – a Useful or a Dangerous Idea?


We live in an increasingly globalized world – that much is certain. But what does globalization really mean and is it a helpful or harmful aspect of the socio-economic revolution?

What is globalization

Globalization can be defined as follows:

The process of international integration that results from the exchange of worldviews, products, ideas and culture. It refers to processes that promote the global exchange of national and cultural resources.

These global exchanges can include goods, services, finances, people, laws, and even ideas. Advances in transportation and telecommunications, including the growth of the Internet, have made economic activities more interdependent. Globalization requires not only economic considerations, but also political, cultural, psychological and ecological attention.

Globalization as a harmful term

In a recent heated debate about whether the effects of increased cross-border interactions are good or bad and, above all, who they affect positively and negatively, neither supporters nor opponents seem to accept or reject this as a whole.

Different stakeholders and third party perspectives will defend different pro and anti globalization opinions. The competing transnational flow of resources can be controlled in accordance with the competing interests of the parties involved.

Neoliberal globalization emerged in 1980 in response to increasing government powers and declining commercial profits. It is commonly argued that neoliberal globalization benefits the rich and harms developing countries.

We must recognize that the world-wide distribution of wealth and income is highly unequal. The richest 10% of the world’s households have as much annual income as the bottom 90%. (BBC)

Globalization is contributing to greater income inequality. Neoliberalists are often portrayed as opportunists – interested in personal gain by blackmailing third world resources. Neoliberalism advocates the flow of capital that results from world trade, but rejects increased immigration that inadvertently positions poorer countries as “victims” of financial imperialism.

The rise in underground globalization (including the illegal flow of resources) is an indication of the lack of government control, legality and morality; Support the perception that rich countries are trying to “ignore the rules” at the expense of poorer people.

On the other hand, if we take this further and take into account the number of jobs that depend on FDI and international trade, globalization may not be all bad.

The helpful face of globalization

Foreign aid also contributes to globalization. It is a concept made up of national policies dedicated to promoting long-term investment and export markets for goods and workers, with an emphasis on building relationships of mutual benefit and equality. Foreign aid counteracts free trade, capital flows and all Western cultural hegemony to encourage greater global regulation and the flow of support and technology to poor countries and migrants to rich countries.

Problems related to this “positive attribute” are that global demand can only support a limited number of countries and that strong political governance is required within the country, which most developing countries cannot sustain.


By definition, globalization will lead to a high degree of similarity in different areas of life. Homogenized global culture may not be a good thing as we lose cultures and traditions (see Suffering from Loss of Jargon).
Even so, we cannot ignore the fact that globalization enables greater specialization of nations, greater economies of scale and a greater flow of information and technology. As a result, people and companies are more competitive and potentially more efficient.

Globalization is good or bad for yourself, but it is important to understand the implications for every link in the chain and the constraints of achieving an “ideal balance” of equality and national capabilities .

Author: Amy Haddow

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