Net Effect of Globalization

In a minimum of two “good” paragraphs explain the net effect of globalization. Use information from class lectures and discussions, videos, websites and “The World is Flat” as evidence to support your opinion.

Globalization is a new word in the English dictionary which has brought a huge impact around the world after imperialism. Globalization can be referred to “the growing integration of economics and societies around the world” according to the World Banks. According to Thomas Friedman, from year 2000, “the world shrank from a size small to a size tiny and flattened the playing field at the same time.” As described, globalization connects people from different locations and make sharing of ideas and informational over the world. This is one of the positive effects of globalization; communication around the globe. Some of the other positive effects are opportunities for other people around the world to get the jobs through outsourcing, and increase the profit between the countries. For example, most of the companies in America produce their products in China and India where there is cheap labor therefore lowering the price of the products even though the quality may be the same.

Even though globalization seems to be a solution to many of the world problems that can open up the opportunities to people around the world who are desperate for jobs, globalization has its own downsides too One of the negative effects of globalization is that even though outsourcing opens up more jobs to people in other parts of the world, the jobs used to belong to someone else. For example, while people in India get the job that people in America had, more and more Americans are becoming jobless. Also, so-called “monoculture”, which means one culture, is mixing unique cultures around the world. It could mean a positive situation but actually it is the opposite. Because of the impact Western countries have on countries like India, people are losing their own culture and becoming “westernized”. To focus on India, due to globalization, there is less stability in economics due to outsourcing because they rely on outsourcing too much. When there are strikes going on in India, people might have to stop from working for at least a day. However, the days missed out due to little obstacles cost a lot of money therefore crashing the economy. Lastly, even though globalization boosts up the economy forcing countries like India to change fast like other rich counties when they are not ready, it creates a big gap between the rich and the poor. The rich get richer as they get more access to new information while the poor have to always be poor working for only minor jobs. As one can see, it is not a matter of deciding rather globalization is bad or not, it is a matter of how to benefit from globalization.