Defining and Researching Globalization
In this paper I will discuss Globalization. First, I will properly define the term Globalization, then I will analyze research of Globalization; the power of Globalization in our world, the advantages and dis-advantages of Globalization.
Globalization is defined as an, “international free market”. It is a tool to keep us all connected in trade markets around the globe. Goods and services are often able to reach places in terms of exports, imports and manufacturing through Globalization (Infed). Globalization has allowed economies to grow rapidly, whereas before Globalization it wouldn’t have. Globalization is essentially a force that marketing uses to push goods and services (Infed). Throughout my research, I learned while Globalization has often leaded to growth and prosper for some economies; it has also hindered many economies. No one can deny how Globalization has revolutionized the market by expanding it. However, in developing countries they don’t seem to gain much but the minimum income earned from manufacturing these goods and services (2003, Brookings).
Outsourcing is the way businesses get ahead in Globalization. They often outsource in developing countries. In developing countries, they are in turmoil; politically, economically, geographically, socially and culturally. They are also lacking financial stability and freedom of the markets. They have few resources because of their geographic location and/or access to these resources. Sometimes, it is just the mere tools to make their resources profitable. In developing countries they are lacking even basic necessities. So, for them to prosper from the manufacturing of goods and services they have a long way to come in other areas, for that to be projectable. Most industries and companies are successful from Globalization from taking their products to low income areas and then they provide low paid wages for these workers, therefore profit off of their struggle. It is a viscous cycle, where the workers can’t get ahead (Infed). This downside is how profit occurs through Globalization. There is definitely a profit from inequality. The Global market is geared for highly skilled and educated people. So, those living in developing countries don’t stand a chance to enter the global market, because they are most likely lacking education and skills. Yet, alone the other barriers they face. (2003, Brookings) There are also health concerns for those living in developing countries, because of their poverty they are more than likely to be ill and get diseases. That is a set back itself (2003, Brookings).
Globalization is outsourcing our jobs to produce more profits. The standard of living in developing countries is a lot cheaper than here in the U.S.A. This creates a loss of jobs for us. Also, we are relying more and more heavily on other countries for resources and business gains, than we can afford. However, on a good note; Globalization is a faster method, because of technology. Many trades and markets can gain financially by using technology. Instead of planning long expensive business trips to communicate financial transactions, they can do this via the computer (2010, Thachappilly).
Politically, Globalization is a great move. It helps us stay connected, informed and definitely in the human relations department. International trade forum such as GATT and NAFTA have formed and are compromised of the union of people from many different countries, that may not have gotten along, yet alone had an alliance, if it had not been for Globalization (2010, Thachappilly).
Finally, Globalization basically is a great move business wise for companies and industries seeking to increase profits and as a benefit they create more alliances and international relationships. However, they need to work on their politics and policies to make it beneficial for everyone involved. I see it as incredibly selfish and somewhat exploiting for them to take advantage of these poorer countries. They need to find a balance that outweighs the greed of profiting.
Brookings Institution (2003) Retrieved November 15, 2010 from http://www.brookings.edu/articles/2003/spring_development_birdsall.aspx
Smith, M.K. & Doyle M. (2002) Globalization Retrieved November 15, 2010 from
Thachappilly, Gopinathan (26, August 2010) Retrieved November 15, 2010 from