Winners & Losers of Globalization

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THE WINNERS AND LOSERS OF GLOBALIZATION

It is impossible to discuss in one paper all concepts and issues that relate to the winners and losers of globalization, but , this paper briefly discusses who the pronounced winners and losers of globalization are in today’s world economy. The paper pays close attention to the factors that account for the successes and failures of the winners and losers of globalization respectively. To start with, globalization, as Hill and Hernandez described in their book of Global business today, refers to “the shift toward a more integrated and interdependent world economy,” (Charles W.L. Hill & William Hernandez- Requejo, P 33). Broadly speaking , it is clear that the world Is moving towards ‘a global village’ due to the decline of barriers to cross-border trade and investment, and advances in transportation and telecommunication technology. However, this does not mean globalization led to a better world for all. Looking into the impact of globalization worldwide, it is profoundly true to say that we have two categories: Winners and Losers . The parties in either category can be viewed as  competitively advantaged or disadvantaged by the process of globalization. Briefly , let us first address who we assume to be the winners of globalization. We have many different parties who we believe that they competitively have the upper hand in today’s global market- Developed nations( The U.S and European countries), large firms who produce exportable goods, consumers who buy imported goods, Entrepreneurs who work for profit, companies endowed with highly skilled and educated personnel, countries that enjoy political stability and favorable government rule, and nations that have favorable economic policies, to name only a few- these are some of the parties that seem to dominate the global economy and enjoy the fruits of globalization in today’s world. Above all, a few countries in the world dominate global economy and are seen to...
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