Globalization: A good or bad thing? by: Roberta Ramirez A01190424
Globalization: A good or a bad thing?
Globalization is the
process by which different societies, cultures, and regional economies
integrate through a worldwide network.
Over the last hundred thirty years, globalization, has affected many nations
in various ways; economically, politically, and socially. Globalization
followed a process over the years that were divided in three following phases.
Success and movement
of capital and labor, as well as commercial development that reduced the
transportation cost, characterized the fist phase of globalization, which
extends from 1870 to 1913. The First
World War interrupted this phase; it was impossible for countries to trade
between them. The end of WWII marks the beginning of integration between countries
worldwide.
The second phase of globalization can be seen as corresponding to
the period 1945-1973. This stage was marked by a significant effort to
implement international financial institutions and trade cooperation, as well
as a significant increase of trade of manufactured goods between developed
countries. It amplified the capital and labor.
During the last twenty-five years of the twentieth century (from
1973), a third phase of globalization started to develop. There was a huge
spread of free trade, the growing presence on the world stage of transnational
corporations whose operation are the international systems of integrated
production, expansion and capital flow and notable trend towards homogenization
of development models, despite the persistence of selective trade protection
mechanisms. Also societies started to mix between them.
There are many advantages for the existence
of globalization such as: technological revolution, reduced cost of
transportation and products, increase in information, and communication, but
also there are some disadvantages that need to be taken into consideration such
as illegal immigration, or the domino effect in economies, for example if the
USA has an economical crisis most of the countries will be affected, and last,
but not least sometimes due to globalization the a person may earn skills in an
other country but stay there to apply them instead of their own country.
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