By Stella Vasileiadou,
What exactly is globalization?
Globalization is a complicated issue. In a few words, it stands for the ongoing increasing integration of economies around the world, particularly through the movement of goods, technology, services, and capital, as well as the growing interdependence of the world’s economies, cultures, and populations in general.
However, opinions do differ on whether globalization is an essential process rather than a non-beneficial one. Therefore, it should be necessary to meticulously evaluate the pros and cons before drawing any conclusions.
First of all, thanks to globalization, we are able to afford a bigger variety of goods and services at competitive prices; a global market allows businesses wider access to production opportunities and consumers. However, the truth is that despite the fact that the ultimate goal is free trade (basically meaning a trade free of customs duties, taxes, etc.), in reality, we are really far from achieving it.
The advocates of globalization maintain that it has enhanced cross-cultural understanding. Are people more tolerant towards different cultures and races? Is racism a less common phenomenon nowadays? The answer is a big yes. Cultural intermingling is for real, and people who live in another part of the world are rather considered friends or neighbors than aliens or enemies.
In addition, others claim that globalization can really lift people out of poverty. For instance, globalization has created new jobs opportunities all across the world. Plus, it is really important to mention that many people in developing countries, for example, were unaware of their labor and human rights. Now, they have the knowledge needed as their power and can claim a better work environment.
We should also not forget, the fact, that quite a few developing countries did not even have, and could afford, the appropriate state-of-the-art technical and technological equipment. However, this still remains an ethereal goal and has not yet been fully achieved.
Still, the non-supporters of globalization believe that economic growth is still unequal. How, for example, could local businesses survive in a battle of daily competition between large well-known multinational companies? Is this fair? Or is it true that the rich are made richer, while the non-rich are made even poorer?
Other advantages that have emerged thanks to globalization include the fact that people can move much more easily than in the past (i.e. to market their skills), as well as the extremely quick dissemination of information via the Internet. But, as we already know, there are two sides to every story, which means that this could probably lead to serious pressure for the employers and cause problems to the existing human capital.
So, what do you think? Do the benefits outweigh the drawbacks or not?
