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Globalization
is such a commonly used term in the twentieth century. It simply means that the
world has become integrated economically, socially, politically and culturally
through the advances of technology, transportation and communication. It is
undeniable that globalization has resulted in both positive and negative
effects which must be addressed accordingly.
To begin with,
globalization has contributed to the world’s economies in many beneficial ways.
The advances in science and technology have allowed businesses to easily cross
over territorial boundary lines. Consequently, companies tend to become more
productive and competitive thereby raising the quality of goods, services and
the world’s living standard.
Secondly,
several companies from the more developed countries have already ventured to
establish foreign operations or branches to take advantage of the low cost of
labor in the poorer countries. This kind of business activity will provide more
influx of cash or investment funds into the less developed countries.
However, one
cannot deny the negative effects which have derived from globalization. One
crucial social aspect is the risk and danger of epidemic diseases which can
easily be spread as the transportation becomes easier and faster in today’s
advanced society. This is evidenced in the recent birds flu disease which has
infected most Asian countries over a short period of time.
As large
corporations invest or take over many offshore businesses, a modern form of
colonization will also evolve which may pose certain power pressure on the
local governments of the less developed countries. Unemployment rates in the
more developed regions such as Europe may also escalate as corporations choose
to outsource to the cheaper work force from Asian countries.
In conclusion. I like to reiterate that globalization is
inevitable and we must urge individuals, companies and governments to use a
more balanced approach by taking the appropriate steps to deal with matters
relating to the financial or economical gains verses the social, political or
ecological concerns of the world.
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