What is
globalization?
It is a
process of interdependence & integration among the people, companies, &
government in societies around the world. It can be seen greater movement &
increasing interaction people, capital, goods & services across borders.
Countries have built
economic partnerships to facilitate these movements over many centuries.
This
process is driven by international trade, information technology, and
international investment which is directly effect to economics, political,
culture, prosperity, and environment.
Globalization
goes to back thousand years which is not new thought of recent be born. At that
time later, among the people have been buying from and selling to each other in
lands at great distances, as an example we have heard that there were trade
connections between sri lanka & other several countries (India, China )
Lum et
al (2006), asserts that discourse encompassing the results of globalization on
cultural variety may be quite a problem. The innovations in technological
know-how have open cultures to your environment and have dissolved global
boundaries offering strategy to globalization. Within this regard,
globalization is being an empowering entity considering that it interconnects
the planet also as supporting cultural and financial advancement.
The complexity of the current global economy has to do
with certain disjuncture between economy, politics and society” (Appadurai, 1996)
Stiglitz
(2003) asserts that rather than destroying areas of a lifestyle, mass media and
globalization could aid in restoring or revitalizing cultural preservation of
a persons. Technology is beneficial in preserving language, culture and customs
plus the preservation of personal and collective identity. Moreover,
globalization offers autonomy and ability to these kinds of communities.
Globalization
has some advantages and some disadvantages. These things are directly effect to
the people’s living condition which can be affected as good or bad.
Advantages of globalization and
how it effect to the people’s living condition
1. Opened the door of international
market for domestic productions.
Domestic
manufacturer should have a best price on domestic production to retain and
expand the market. According to domestic demand, productions are supplied to
local market then, if have superfluous production which can be supplied for
international market with globalization. Then after, vastly increasing their
own productive potential and creating myriad new opportunities for
international trade and investment. Governments also have negotiated dramatic
reductions in barriers to commerce and have established international
agreements to promote trade in goods, services, and investment.
As a result of opened
the door of international market for domestic productions, people’s living
condition is increased on flowing of foreign exchange to the country.
2. Increase in employment job
opportunities
Through globalization,
international investors are setting up more and more companies in the
countries. So that, GDP ratio is increased and infrastructure facilities, job opportunities
are established within the country. People can get better jobs without having
to move to other countries in search of better jobs.
And also,
People can seek suitable job opportunities from other countries on education
and experiences. More chances will be received with globalization.
As a result of
Increase in employment job opportunities, people’s
living condition is increased with strong financial strength of the peoples
3. Increase in education
opportunities for people
More and
more education opportunities be born for the people in the country. Lot of
people wish to get international educational qualifications with experiences.
With globalization, people
to move across borders to different parts of the world to acquire better
education. People
from underdeveloped and developing countries often move to developed countries
to get better education.
As a result of
Increase in education opportunities for people, who has living condition is
increased with sound educational background of the people and high position
with jobs will be created on their background.
4. Highest & latest technology
flow into the country.
With
globalization, technology has been spreaded among other countries. Advances in
information technology has dramatically transformed to produce domestic
manufactured goods in efficient and under the low cost. All technologies are created
differently and culture plays a big role in how technology is used worldwide.
As a result of Highest
& latest technology flow into the country, domestic productivity will be
increased then people’s living condition is enhanced by strong economic in the
country.
5. Faster flow of Information
Information
flows from one part of the world to the other immediately, resulting in the
world being tied together. Vital information can be shared between individuals
and corporations at a very fast rate. It has also facilitated in increasing the
ease of transporting people and goods.
As a result of faster
flow of Information, people’s living condition will increase. Because of various
information are most important to share with others and to be taken decisions
regarding trade, politics, tourism, manufacturing, agriculture etc among the
world. When it comes faster flow of information which can be deployed to these
areas as useful. Then these areas will grow up soon in the country.
6. Decrease in prices of goods and
services
With
globalization So many products are imported from the international market as substitution goods for local consumers. Then after price of local products cannot be
increased as abnormal and automatically
it is made a control price in local market for the relevant product and prices
of goods and services will decrease against the competition.
As a result of
globalization, people’s living condition will be increased they can buy various
products on reasonable prices.
Disadvantages of globalization
and how it effect to the people’s living condition
1. Discourage of local manufacturers
and threat to GDP
Under
the low prices of substitution goods can be imported from multi countries and
decrease of local goods consumption the manufacturers who will be discourage.
It will be effected to down GDP ratio in the country. As a result of
globalization people’s living condition will decrease on discourage of local manufacturers
and threat to GDP.
2. Rapid spread of deadly diseases
Deadly
diseases such as AIDS or other communicable diseases can spread at very fast
pace via travelers or due to other means as a direct consequence of
globalization. As a
result of globalization people’s living condition will decrease on this matter.
3. Unfair working conditions
With
globalization, peoples have so many job opportunities to take from various
countries. So that multinational companies are hiring the people as labor or
house maid and they will have to work under unfair working conditions. It will
be directly affected to decrease people’s living condition.
4. Culture contamination
5. Non-compulsory intervention of foreign
power forces to politics
Conclusion
Globalization
is deeply controversial, however, it can be seen advantages and disadvantages
through globalization which is affected to people’s living condition directly as
good and bad. Countries are developed and raise people’s standards of living
with globalization. It is a good opportunity for poor and developing countries
to become a developed country through the globalization.
And
also, there are good & bad side of anything the same it is shown culture
contamination, bad effect for economic growth and decrease of people’s living
condition on some matters with globalization.
References
ja-groep.nl,
2016, Effects of Globalization on Lifestyle, viewed 13th Oct 2016
lorecentral.org,
14 Main Advantages and Disadvantages of Globalization https://www.lorecentral.org/2017/10/14-main-advantages-and-disadvantages-of-globalization.html
quora,
What are the advantages and disadvantages of globalization?
Great article .I look forward to reading more from you.
ReplyDeleteThanks Derick
ReplyDeleteThis gives clear idea for the new viewers of blogging.thank you.
ReplyDeleteThanks Renu..
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