Globalization: Threat or an Opportunity

Topics: Economics, World Bank, Nation Pages: 4 (1337 words) Published: November 30, 2005
The term globalisation has significantly influenced many countries all around the world. It is a process that happening in most countries and considerably changing many things. Globalisation is proved that it is inevitable; moreover, it is irreversible. In few decades, this process has been running very unbelievably quickly without any control or a plan. Some people see it as it is beneficial and may develop many countries' economy, politics, culture, and environment. It could also be a gate to a happy and povertyless future. As Monbiot believes, "Our task is surely not to overthrow globalisation, but to capture and use it as a vehicle for humanity's first global democratic revolution." (Monbiot 2003, p. 35). Others on the other hand, view this term as it is dangerous, frightening, and a risk. They also believe that globalisation offers inequality income between countries and also cause poverty and ignorance in many countries. There are cultural, ideological dimension of globalisation which will not be covered in this essay. This essay will only discuss about two most important dimensions of globalisations, these are cultural and political dimension which in my point of view are the most important aspects of globalisation.

Many people view the economic globalisation as a process that offers fear or rather threat to many local markets. They also see it as it makes poor people become poorer and wealthy people become wealthier. It is a fact that economic globalisation offers inequality and not evenly contributed throughout the world. Many countries which have not embraced globalisation, either because of their strategic location or the lack of natural resources, face a sharp increase in poverty, squalor, and diseases. As IMF staff notes: "The gaps between rich and poor countries, and rich and poor people within countries, have [sic] grown. The richer quarter of the world's population saw its per capita GDP increase nearly six-fold during the century [the 20...

Bibliography: DUNNING, J., ed., 2003. Making Globalization Good. New York: Oxford University Press.
IMF Staff, 2002. Globalization: Threat or Opportunity? [Online]. IMF: IMF Staff. Available at: [Accessed 30 July 2005].
STEGER, M. B., 2003. GLOBALIZATION: Very Short Introduction. New York: Oxford University Press
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