Globalization is the name for the process of increasing the connectivity and interdependence of the world's markets and businesses. (www.dictionary.com) Over the last 2 decades, the globalization process has been accelerated by rapid advances in technology such as the rise of the internet and advanced telecommunications. (www.investorwords.com) This paper will argue why globalization is not the best course of action in the long run because it can not be done fairly and the long term trade offs are far to detrimental. Experts do agree that continued growth via globalization does cause some aspects of the environment to decline. (Pugel, 2003) This is a direct result of more people using more goods and services, which causes more waste. The question is how long can a pattern of degrading the environment continue before the environment becomes unlivable? Additionally, if multiple countries that trade with each other all have different rules and regulations, how can global trade ever be fair? For example, a US company might open a factory in China because the Yuan is valued much lower than the dollar, therefore, they have a financial incentive to produce as much as possible out of China. This action certainly benefits the US company making the foreign investment, and it even benefits the Chinese workers, although this might not seem to be the case from other US workers, as the wages would seen menial. However, what happens to the US worker whose job was just given to a Chinese worker for half the price? If China is a growing country, they do not have the ability to reciprocate. Imagine this process repeated 1 million
times over and the end result would be some very happy Chinese workers, unemployed US workers, and a much richer corporation. The overall quality of life has not increased, but degraded and higher paid US workers are unemployed, the Chinese workers, while making more than before, still are no where near the lifestyle the US...
References: Ponniah, T. (2003) Democracy vs. Empire: Alternatives to Globalization. Presented at the World Social Forum
Pugel. (2003). Trade and the Environment. New York: McGraw-Hill
Vaughan, M. (2003) As steel consumers applaud, critics response muted. National Journals CongressDaily.
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