Different people try to give the word globalization different meanings that suit its implication and relevance to different areas. From economics to technology, media, education, industrialization, politics, medicine, and so on, globalization cuts across all borders. The principal interest is how globalization translates countries, economies into world recognition. As countries, businesses, and industries come under the effect of globalization. It is essential to note that the value dispensed, seems to reach a broader scale on account of the introduction of better means of delivering value.
The question is: why is globalization bad?
Continue reading to gain more insight into the subject matter.
Taking A Look At Globalization
The advent of globalization initiates so many changes in today’s world market competition. Many historians seem to believe that globalization started from the time when Christopher Columbus went on his voyage around the world, discovering the Americas.
Another critical factor that comes to play is the scarcity of resources and the value it brings. Marketers, industries, and various establishments use globalization as an avenue to create products and services that seem to be scarce in supply. By doing this, they increase their tendency of international acceptance, bringing competition to its peak.
So many countries now find common ground with others in the account of the greater good they stand to gain. Globalization is the new force pushing countries, economics, and government to greater heights, although many differ with this thought as it is a common fact that a large chunk of world damage, wars, Strife’s, and disputes seem to have emanated from global movements.
As the works tend to a better society, we need to look at the long term implications of this growth and transformation. We will not be where we are today if we’ve not considered the negative impacts of change brought upon us by our actions. A few of these effects include:
The Drift Of Economic Power To The Rich
It is a well-known fact that one major factor that drives globalization is finance. Most counties with excellent financial capabilities have used this strategy in smaller countries with little financial strength. It brings a sense of inequality and an unbalanced playing ground for economies to thrive on. Only the rich can gain access to modern technologies that enhance production.
Most of the industries whose scale of production have gained full acceptance around the world only did so by exercising financial power over others to secure better technologies, workforce, and asset.
In the battle for human resources, having a functional financial status is as good as winning. Just as the best of human resources seek to offer their services to those who can pay commensurable amounts to employ them, those with suitable financial means use this as an advantage to siphon the very best to their sides.
As the need for better production ensues, it is imperative to be able to contract the best of minds. Your inability to achieve this would result in reduced production. It would eventually tell in the competitive market.
Economic giants like America, Asia, Europe, and France have all used mischievous means to acquire the best of professionals and experts to boost their growth. Most of these renowned experts would only oblige to offer services to those who would have the financial power to deliver.
Technological Displacement Of Human Resources
As the world tends to more acceptance of technology, we see that it is gradually finding full application in areas thought to be exclusive to man. It would bring huge losses to the amount of those employed, leading to more significant problems of unemployment.
We all seek an economy where all can be privileged to earn a good source of income. As the number of unemployed individuals increases, there would be a hike in the rate of crime. Men would naturally seek ways to provide for their basic needs like shelter, food, clothing, etc.
Innovations have introduced a more automated process and intelligent engines. Employers have overtime seen that machines have a higher production rate than Man. Issues of carelessness, risks, enhanced strength, and skill all join to render man genuinely ineffective in some specific ways. In many ways, these challenges would pose a significant threat to Job security.
Many industries seek to eliminate more workers who do not have the required technical skill set to cope with the advancement in science. In an attempt to make things easier and comfortable, we have indirectly made it difficult for those trying to earn a living.
The Power Struggle Between Nations
Globalization is a cause of intercontinental riffs and wars between people with diverse sociopolitical interests. Modernization has brought increased rates in the production of weapons in a bid by nations to secure power for themselves and protect its citizens.
Most research funded by countries is in advanced nuclear weapons that would threaten the safety of others. Globalization has brought the need for complete control over other small countries by countries with powerful weapons. The Strife between the U.S, China, Russia, and Britain has always been about who controls as the World power.
No other time than now in the history of the world have we seen the rise in killings and attacks of humans? Terrorist groups with sophisticated weaponry have used their power to prey on the weak population.
These terrorist organizations, all acquired their weapons for technological research and breakthroughs. Nations are going into more profound weapon research to come up with deadly agents of war. The Peace the world has been experiencing is on the verge of collapse as instruments of war continue to be invented.
Man’s zest for power has led him into the discovery of various ways to control others by instilling fear in the hearts of others. All these could have been avoiding if the trends in globalization didn’t become so high.
Environmental Impacts
Most of the industries and companies whose processes result in pollutions care less because they are more interested in making profits with little consideration of the impacts in the environment.
From fumes from engines to dangerous gases being allowed to flood the atmosphere, globalization had increased the level of pollution. Water channels have become increasingly inundated with untreated chemicals and disposed of waste that threatens aquatic life.
Trade Hazards
As the world continues to evolve, unbalanced trade policies would start emerging. Countries in a bid to encourage foreign investors to build their economies would think of ways of stabilizing their economic rise and fall, just so that they could become better than others.
The whole idea of globalization brings about competition. This competition could get intense as everyone wants to emerge winners. Countries are also developing high tax rates to discourage companies who use their raw materials to produce and export to other counties.
Nations are beginning to introduce policies that will bring about landslides of sales and economic boom, all targeted against other economies. Third world countries that are still developing or underdeveloped would be at a considerable loss since world regulations won’t be in their favor.
The regulations out in trade and economic relations are regulated and enforced by countries with higher bargaining power. It is a reason why states can never be balanced. Most potent nations would always want to take advantage of the vulnerability of other countries to exploit their resources.
Failure to play by their rules would result in severe implications like cutting off the necessities provided by these more significant nations to the smaller ones.
Globalization increases the interdependency of markets but also results in shortages in supply chains of some other markets. The demand and supply flow chain will eventually shift, generating an unbalanced and disadvantaged market arrangement.
Global Imbalance
As globalization continues to affect every aspect of national growth, we see that this idea fundamentally encourages imbalance amongst nations today. Some seem to be developed and keep on developing. Others remain in their deployable state all because they are minor continent regions.
A lot of the imbalance we face in societies today is mostly a deliberate effort of world powers to keep some countries in continued dependence so that they can always obtain what they need from them. It is a significant challenge to the African countries as a lot of them still depend on other civilized nations.
Conclusion
For globalization to benefit all equally, we must look towards curtailing these negative impacts. Our quest for development and transformation should not be at the detriment of other surviving sectors and countries. Globalization describes the effects of market and technological advancement in the world. It connects the nations. It also brings with it a drawdown in the economic markets of the countries. In essence, we now understand why is globalization bad.
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