Globalization: Case Studies

Essay by BigtimerHigh School, 11th gradeA-, March 2004

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"Globalization is about worldwide economic activity - about open markets, competition and the free flow of goods, services, capital and knowledge" [Definition according to International Chamber of Commerce] The ICC recognizes that globalization can be beneficial economically, but fails to realize the atrocities in the Global South that make these economical gains possible. When asked to what extent should Globalization be promoted in today's society, the following questions must be answered: are the peoples of the Global South exploited? Are cultures being disregarded? What are some economical advantages? Answering these questions give one an idea of where one stands on the Globalization spectrum. One who promotes Globalization to a great extent says it enriches people's lives by helping those in the Global South find employment. They also say it promotes the spreading of cultures through the sharing of ideas and trading. Free trade includes low or no tariffs, which increases national welfare.

GDP per capita of a nation is usually inversely proportional to low tariffs, and vice versa, so low tariffs should be promoted. On the other hand, there are those who oppose Globalization. These "anti-globalists" say that multinational companies exploit the peoples of the Global South. They also say jobs are taken from those in the Global North, because the corporations would rather have the products manufactured elsewhere for lower cost. They are not in favor of free trade and would like to see higher tariffs on imports. They would rather be independent and try to sustain themselves, and trade when only absolutely necessary. Upon analysis, the issue remains complex; however, I believe globalization promoted to a minimal extent would be optimal for world prosperity because free trade and

Globalization has helped kick start many developing nations economies when multinational companies employ people of the Global South. In a...