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Impact of Globalization on Trade and Employment

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❶It follows from this argument that in the era of globalization, with its significant changes in global economic relations, the nineteenth and twentieth century model of the nation-state may become obsolete.

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While globalization is thought of by many as having the potential to make societies richer through trade and to bring knowledge and information to people around the world, there are many others who perceive globalization as contributing to the exploitation of the poor by the rich, and as a threat to traditional cultures as the process of modernization changes societies. There are some who link the negative aspects of globalization to terrorism.

To put a complicated discussion in simple terms, they argue that exploitative or declining conditions contribute to the lure of informal "extremist" networks that commit criminal or terrorist acts internationally. And thanks to today's technology and integrated societies, these networks span throughout the world. It is in this sense that terrorism, too, is "globalized. Before moving to these essays, consider the discussion below about some of the economic, political, social and cultural manifestations of globalization.

Increasingly over the past two centuries, economic activity has become more globally oriented and integrated. Some economists argue that it is no longer meaningful to think in terms of national economies; international trade has become central to most local and domestic economies around the world. Among the major industrial economies, sometimes referred to as the Organization of Economic Cooperation and Development OECD countries, 65 percent of the total economic production, or GDP, is associated with international trade.

Economists project that, in the U. The recent focus on the international integration of economies is based on the desirability of a free global market with as few trade barriers as possible, allowing for true competition across borders. International economic institutions, such as the World Trade Organization WTO and the International Monetary Fund IMF , facilitate this increasingly barrier-free flow of goods, services, and money capital internationally.

Many economists assess economic globalization as having a positive impact, linking increased economic transactions across national borders to increased world GDP, and opportunities for economic development. Still, the process is not without its critics, who consider that many of the economies of the industrial North i.

Critics assert that these conditions are to a significant extent the consequence of global restructuring which has benefited Northern economies while disadvantaging Southern economies. Others voice concern that globalization adversely affects workers and the environment in many countries around the world. Discontent with the perceived disastrous economic and social manifestations of globalization has led to large and growing demonstrations at recent intergovernmental meetings, including meetings of the World Trade Organization WTO , the International Monetary Fund IMF , the World Bank, and the Group of Eight G8 leading industrial countries.

Globalization has impacts in the political arena, but there is not a consensus among social scientists about the nature and degree of its impact on national and international politics.

Some political scientists argue that globalization is weakening nation-states and that global institutions gradually will take over the functions and power of nation-states.

Other social scientists believe that while increased global inter-connectivity will result in dramatic changes in world politics, particularly in international relations i. Political theorists and historians often link the rise of the modern nation-state in Europe and North America in the nineteenth century and in Asia and Africa in the twentieth century with industrialization and the development of modern capitalist and socialist economies.

These scholars also assert that the administrative structures and institutions of the modern nation-state were in part responsible for the conditions that led to industrial expansion. Moreover, industrial development brought with it social dislocations that necessitated state intervention in the form of public education and social "safety nets" for health care, housing, and other social services.

Consequently, the development of the contemporary nation-state, nationalism, inter-state alliances, colonization, and the great wars of the nineteenth and twentieth centuries were in part political manifestations of changes in the structure of economic production. It follows from this argument that in the era of globalization, with its significant changes in global economic relations, the nineteenth and twentieth century model of the nation-state may become obsolete.

The economic orientation of the modern nation-state has been centered on national economic interests, which may often conflict with the global trend towards the free and rapid movement of goods, services, finance, and labor.

These processes give rise to the question of whether the modern nation-state can survive in its present form in the new global age. Is it adaptable, or will it gradually be replaced by emerging multinational or regional political entities? Changes in political structure and practices resulting from economic globalization are only a partial explanation of changes in world politics in the late twentieth and early twenty-first centuries.

International relations and world politics in the second half of the twentieth century were strongly informed by another global factor - the Cold War i. The early and most intense years of the Cold War in the s and s coincided with the de-colonization of Asia and Africa and the creation of more than 70 new nation-states. Many of the new nation-states of Africa and Asia had based their struggle for independence on the principles of freedom, justice and liberty - principles espoused by both the Eastern and Western blocks.

The economic, political, and ideological competition between East and West had fertile ground in these newly independent nation-states. Although the "cold war" never developed into a "hot war" of actual military conflict in Europe or North America, civil wars within and wars between new nation-states in Africa and Asia were fueled and supported by Cold War tensions.

To some experts, the demise of the Soviet Union and the Eastern bloc a decade ago promised a new era of world peace and increased openness. The increased clarity over international laws have promoted businesses to go beyond national limits.

The telecommunication infrastructure and internet has made the world even smaller. The recent technological inventions has brought down the cost of voice conferencing. International webinars are held now and then.

Due to deep penetration of Internet, even small eCommerce companies are making cross-border transactions. An increased sense of humanity , and the brotherly feeling towards global community, has inspired organization to serve people around the world. Movement of people to foreign countries a for education in international universities, and b for looking for better job opportunities.

For example, Indian people form the largest diaspora in the world. In the present age of globalization, the economy of countries are inter-dependent. If the economy of one country fall in danger, other countries also feel the pain.

Businesses are engaged in international transactions. Export-import among countries involves a massive amount of money. For example, China has become a massive manufacturing hub. The electronic goods manufactured in China are sold across almost every country of the world.

Multinational-companies have economic interest across several nations. They have big market and make huge investment in foreign countries. A decline in demand in one country affects the overall performance of these companies. Due to Globalization, there has been an increase in cross-border Merger and acquisitions. India has emerged as a major player of service and Information Technology IT industry. Many BPO services are provided from remote places. Their services are hired by companies around the world.

Due to Globalization, the world is getting smaller every day.

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The Implications of Hyperglobalist Globalization on World Regions - Even though the globalization skeptics and the transformationalists both have viable interpretations of globalization, I believe that the hyperglobalist perspective is the most accurate.

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Globalization is a process and this process makes developments in these countries. First of all is the independence of each of developing countries. The development in industry, economy, culture and polity gives solutions to social problems.

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essay about globalization, its advantages and disadvantages. Essay globalization 1. GLOBAL INTEGRATION: ADVANTAGES AND DISADVANTAGES Globalization is the process by which different societies, cultures, and regionaleconomies integrate through a worldwide network of political ideas throughtransportation, communication, and trade. Globalization is the process of integration and exchange of economic, social, and cultural aspect of people beyond national boundaries.

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I. Introduction to Globalization. Teachers may want to have the students read this introduction before they read the essays on "Globalization" to provide a basic understanding of the concepts included therein. "Globalization" is a term that came into popular. Thus the present trend in globalization in Indian economy has to he analysed seriously from all angles for determining its future policy directions in a most rational manner. Essay .