economic geography

Topics: Globalization, Developing country, Developed country Pages: 5 (1229 words) Published: May 21, 2014

Specificity of the globalization process

Subject: Geografia ekonomiczna
Author: Podobed Sergei
Album number: 33943

Bialystok, 2014

Globalization refers to the absence of the walls of matchboxes that every country had, between themselves based on suspicion, mutual distrust and ambition. We were different countries, in fact divided into worlds, and therefore could never manage to deal with natural holocausts and deadly epidemics, which time and again challenged us. Globalization has strengthened the nexus and has helped us to know each other's need in a better way. It has helped to demolish those walls that separated us and curbed our natural identity of being fellow human beings. Globalization has primarily become a fiscal term but its impact is not limited to the economy of the countries only, the term globalization actually refers to every aspect of life-like cultural, social, psychological and of course, political.

It is true that the impact of globalization is visible and affects largely the politics and the economy of the country but its effect on the mindset and the culture is noticeable gradually in the way people think and react. It's like the Iceberg theory wherein what we do and say are at the tip and what we think and believe is at the base. The base is not visible but manifestations at the top are conspicuous. It applies here as well where people do not change abruptly but may be after a decade the change starts showing and seems radical.

World During the Pro-globalization Era
Globalization is not a new phenomena, the base was laid long back when the Dutch East India Company and the British East India Company started trading with India. In history, there were trade relations between different countries like Arab and Egypt and now in modern times that has translated into Globalization or Free Trade. It's true that ultimately all the free trade resulted in the white man taking the burden proactively but then globalization leads to more employment and higher standard of living, especially among the developing countries. Theories suggest that globalization leads to efficient use of resources and benefits all who are involved.

According to libertarians, globalization will help the world to deal with crises like unemployment and poverty. It will help us to raise the global economy only when the involved power blocks have mutual trust and respect for each other's opinion. Globalization and democracy should go hand in hand. It should be pure business with no colonialist designs. The way we have developed in the last 10 years, globalization seems to have given us good returns. Globalization has made the life of the third world citizen completely a different story. There are so many foreign companies that have made way to Orient and have made India a brand name all over the world.

Pros and Cons of Globalization
There are many advantages and disadvantages of globalization. Some of these good and bad points of this worldwide phenomenon are discussed below:

Advantages of Globalization
The pros of globalization are many and they are as follows:

There is a worldwide market for the companies and for the customers there is a better access to products from different countries.

There is a steady cash flow into the developing countries, which gradually decreases the dollar difference. Due to the presence of a worldwide market, there is an increase in the production sector and there are lots of options for investments for different companies. Gradually there a world power is being created instead of compartmentalization of power sectors. Politics is merging and decisions that are being taken which are actually beneficial to people all over the world.

The influx of information between two countries increases, especially those nations who do not have anything in common between them.

Cultural intermingling increases and every nation tries to know...
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