Negative and Positive Effects of Globalization

NEGATIVE AND POSITIVE EFFECTS OF GLOBALIZATION 4

Negativeand Positive Effects of Globalization

Negativeand Positive Effects of Globalization

Globalizationhas been one of the most explored concepts in the contemporary humansociety. It underlines the process of international integration thatemanates from the interchange of products, ideas, world views, aswell as other elements of culture. At its very basic, globalizationseems to be a perfect idea that is bound to increase the prospects ofthe countries that engage in the same. However, there has beencontention on whether globalization is really as good as it isportrayed to be. Nevertheless, globalization is perfectly inevitable,given that it is an accidental impact of economic growth such ascommunication, technology and industry. It is noted that as economiesgrow, it becomes only natural that a global market would beestablished in areas that were previously local. The occurrence ofthis necessitates that there be free movement of capital, as well asfree trade. While there has been numerous divergent opinions, it isevident that globalization, being an inevitable trend, has bothpositive and negative effects, in which case it is imperative thatpolicymakers come up with strategies that would eliminate thenegative effects.

Theinevitable nature of globalization is underlined by the increasedspeed of world economy as a result of the sharing of technology andglobalization of economies. According to the Economist (2013), thelast five years have seen an immense growth than any other periodsince the 70s. this may be attributed to the combination oftechnology and economic integration, that has changed the globe andproduced unparalleled prosperity. On the same note, globalization mayresult to a reduction in poverty. A case in point would be Chinawhere the productivity has increased, with every individual producingabout four times as they used to do in early 90s. Indeed, a largenumber of individuals in the developing countries manage to eliminateor reduce poverty as a result of the increased production, profitsand markets.

However,globalization has its downside in both the long-term and theshort-term. This is particularly with regard to the safety ofworkers. Shannon (2013), notes the case of Primark Stores located onOxford Street, London, where crowds of workers sort through theclothing under neon lights, with the floors having heaps of crumpledsundresses, jeans and t-shirts. This is also the case for AssociatedBritish Foods Plc, which was one of the retailers whose productionactivities were carried out in a eight-storey building thateventually collapsed. Other companies such as Bonmarche Ltd, El Corteingles, Matalan Ltd, Joe Fresh and Lobraw Cosā€™ has suppliers in thesame building. As manufacturers seek to maintain theircompetitiveness in the market, they keep the prices of their productsdown, just as they do for the wages and safety of the workers(Shannon, 2013).

Itis imperative that proper solution for the negative effects ofglobalization is devised in the long-term. This is particularlyconsidering that globalization is an inevitable elements that hasnumerous positive effects that the world cannot do without for now.First, it is imperative that a proper education system is devised andput in place allowing individuals to be flexible and mobile withregard to the number of tasks that they can undertake. It is notedthat a large number of individuals working in poor conditions areprimarily low skilled, in which case they are pretty much immobilewith regard to the skills that they have, as well as the tasks thatthey can undertake. Giving them a proper education would allow themto have the capacity to move to varied jobs, thereby reducing theirchances of being relegated to poorly constructed workplaces. On thesame note, it is imperative that proper healthcare is provided toworkers and the public at large so as to eliminate the negativeeffects of globalization on the health.

References

Shannon,S. (2013).Factory Collapse Spurs Concern Only If $6 Bikinis Stay. Bloomberg

TheEconomist (2007). Therich get richer: (But that`s no reason to reject globalization). TheEconomist

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