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[July 18, 2019]

Globalization

Introduction

Globalization is the hallmark of this modern twenty-first-century world. This is one buzzword that accurately defines the overall dynamics of this world. Globalization has several meanings contingent upon the contact in which it is used. This phenomenon of globalization has different dimensions attached with it such as political, social, economic and cultural. Politically, it means the era of democracy in the world. Socially and culturally, this is the emblem of liberty, human rights, and free societies. As far as the economic aspect is concerned, it is the symbol of Free Trade and the market economy in the world. This period of globalization took off from the New World Order in 1991, and since then it is ruling the world affairs. This Globalization has become contested as well because different benefits and losses are attached with it as they are illuminated by several political scientists and researchers. Moreover, the different global issue has also surfaced with this phenomenon that needs pragmatic actions and strategies from global authorities.

Discussion

To begin with, globalization has many good sides. It is the dawn of period which is marked with many positive changes in the world. it has benefited the world population in the sense that it promoted much goodwill and collective benefit among the nation’s states of the world. First, pf all, with globalization societies became freer and more liberal in their outlook. Countries in different parts of the world took notice of the human rights and incorporated them into their constitutions. People are now can easily express their opinions, and profess different religious doctrines. Moreover, on the political side, the world became more democratic. People discarded the other political theories and ideologies to govern their states such as the rejection of socialist-communist ideology. Economically, the world benefited from the free flow of goods and movement. It was attempted under the banner of globalization that there should be no barriers for trade and it should be free in all aspects. The frontiers of the state should be open and all global community must contribute to efforts and results for this barriers-free trade.

This globalization is not without demerits. It has its kind of bad aspects as well. Initially, globalization aimed to integrates the world under the banner of free movement of goods ideas, and people ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"OV0NkBoV","properties":{"formattedCitation":"(Intriligator)","plainCitation":"(Intriligator)","noteIndex":0},"citationItems":[{"id":698,"uris":["http://zotero.org/users/local/ZD9MNZ2P/items/KQ5GMSPJ"],"uri":["http://zotero.org/users/local/ZD9MNZ2P/items/KQ5GMSPJ"],"itemData":{"id":698,"type":"chapter","title":"Globalisation of the World Economy: Potential Benefits and Costs and a Net Assessment","container-title":"Economics of Globalisation","publisher":"Routledge","page":"85–94","source":"Google Scholar","title-short":"Globalisation of the World Economy","author":[{"family":"Intriligator","given":"Michael"}],"issued":{"date-parts":[["2017"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Intriligator). Nevertheless, it was only an elusive dream which remained unreal. The world has witnessed that instead of integrating, this globalization is accelerating the disintegration process. Now and then, this has hampered the internal situation of the states. Politically, it is alleged that globalization is the misnomer for throwing governments in conflict-stricken regions of the world such as the region of the middle east where there is Arab spring still going on. Democracy is implanted there irrespective of the different political and cultural traditions in those middle eastern countries. This is the drawback of globalization. On the social and cultural side, it is stated that globalization is the blanket-term for cultural invasion. Different societies in the world are showing signs of increasing westernization. Globalization is also associated with acing the clash of civilization in the world. Lastly, on the economic front, there has been much furore against this globalization. People and countries are complaining that this is the tool of the powerful nations to open up their economies and extort the resources of their lands. The people in weaker nations opine that this globalization is the modern form of imperialism.

As a result, different global issues have surfaced in this world. Some of them are increasing rich-poor divide, cultural invasion, diminishing the sovereignty of the states, external interference and et al. Moreover, more and more wealth is in a few rich countries such as first-world countries. More precisely, it is witnessed that only a handful of people in big states control the major chunk of the wealth in this world. Even it is alleged that all leading financial institutions are also involved in further weakening of the states under the guise of globalization ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"5e5iwwPj","properties":{"formattedCitation":"(Broner and Ventura)","plainCitation":"(Broner and Ventura)","noteIndex":0},"citationItems":[{"id":693,"uris":["http://zotero.org/users/local/ZD9MNZ2P/items/2HWG5TE9"],"uri":["http://zotero.org/users/local/ZD9MNZ2P/items/2HWG5TE9"],"itemData":{"id":693,"type":"article-journal","title":"Rethinking the effects of financial globalization","container-title":"The Quarterly Journal of Economics","page":"1497–1542","volume":"131","issue":"3","source":"Google Scholar","author":[{"family":"Broner","given":"Fernando"},{"family":"Ventura","given":"Jaume"}],"issued":{"date-parts":[["2016"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Broner and Ventura).

This conflicting side of globalization is not incurable. Several solutions are needed to make it a healthy state for all. The first and foremost step is to remember the democracy is about cultural values. It is not a mechanical process which can occur all of a sudden. So, there has to be no external interference in the internal affairs of the countries. The sovereignty of the sates must be kept in sight before promoting the globalizing tendencies. Moreover, the big nations involved globalization need to be more responsible in the sense that they should not impose their own culture on others without their consent. On the economic side, global institutions need to be more empathetic towards poor nations of the world. The best solution is to take all the nations states equally in world affairs and give a legitimate hearing to their real concerns. Besides, the United Nations to play its part more actively to save other weaker nations of the world.

Conclusion

In a nutshell, globalization is the trademark of this world as it is the symbol of the new world order. Globalization has changed the overall life on the planet of earth. As everything comes with a price, so the good and novel ideas of globalization are also not without demerits. Where it has connected the world and minimized the distances, it has also brought forth different ill effects as well. This free flow of ideas, movement, goods, people are working to benefit only some of the nations and became a source of distress for others especially third world countries. It is time that the global community put up some workable solution to deal with the malicious side of globalization.

Works Cited:

ADDIN ZOTERO_BIBL {"uncited":[],"omitted":[],"custom":[]} CSL_BIBLIOGRAPHY Broner, Fernando, and Jaume Ventura. “Rethinking the Effects of Financial Globalization.” The Quarterly Journal of Economics, vol. 131, no. 3, 2016, pp. 1497–1542.

Intriligator, Michael. “Globalisation of the World Economy: Potential Benefits and Costs and a Net Assessment.” Economics of Globalisation, Routledge, 2017, pp. 85–94.