Globalization

                Over the last few centuries, changes in communication, colonization, politics, and economics have drastically changed the way we live. As the world’s civilizations become ever more connected, it is important to look at globalization and the impact it has on the lives of people around the world. As with all issues, there are many sides to the question as to whether globalization is good for humanity, or bad.

Let us first examine the positive changes that globalization have brought to the world. It is now much easier for countries to diversify their economies, allowing for greater financial growth and freedom. Take China, for example. With the advancement of more efficient globalization, the nation of 1.3 billion people has a market of billions more to ship its goods and resources to. Consequently, China has become a vibrant market full of international investment. They are seeing some of the greatest amounts of GDP growth ever and there are fewer people in poverty than there were in the past. There is, however, a flip side to this in terms of human rights and ethics, which we will examine later. Another positive aspect to globalization is the global connectedness between people that have been brought about by the media, internet, communications systems, and cheap travel opportunities.  We are now much more informed about other cultures and societies as well as world events due to our universal access to the internet, social media, and various other news sources. The availability of (relatively) cheap air travel has also allowed more people than ever to engage in cultural tourism. This has led to more understanding between cultures and societies and less cultural stereotypes that may have been due simply to ignorance.

One of the most negative impacts of globalization is the human rights abuses that can derive from it, as well as the desolation of smaller economies at the expense of larger ones. In many nations which specialize in primary and tertiary industry, (mining and production), low wage workers who have next to no formal education can be employed. These workers often work very long shifts in dangerous conditions and the pay does not reflect on this. This occurs due to the western consumer demand for cheap goods. Another negative, which was mentioned above is that smaller countries can be taken advantage of. There was an example with Jamaica, where the IMF loaned a large sum of money to them to repair and build much needed infrastructure. However, there was a catch. In exchange for this loan, Jamaica had to accept a high interest rate and open up their markets to the world. Consequently, they are still repaying this loan today and the local banana trade, which made up a large and important part of their traditional economy. The banana trade was destroyed because multinational corporations were able to harvest them for cheaper, leaving local farmers without a market.

The principal change Globalization has made to my life is the availability of very cheap clothes and cheap electronics, both of which are manufactured in multiple different locations around the world. The other major impact globalization has on my life is the availability of news sources. I find world events fascinating and it is easier now than ever to see what is going on around the world.