Globalization has ramifications for the environment, culture, political systems, economic development, and human physical well-being in societies all over the world. We are more connected today than ever before thanks to various technological advancements, but what does globalization actually mean? Does this imply that every country on the planet is becoming the same? Does it refer to the global integration of economic, political, and cultural systems? Is it true that globalization entails being able to shop at the same stores, go to restaurants in every country on the planet? Does this imply that individual countries will be affected?
Globalization – A Critical Analysis
Some hold globalization is a good thing for the underdeveloped countries to create new businesses and jobs. Others argue that globalization is harmful because it will cause people to lose their jobs, compel the world’s poorer countries to do what the wealthy countries want. Another point of view is that The industrialized countries, such as Canada, are the ones who may be affected. They suffer as a result of their involvement in outsourcing many of the tasks. Outsourcing critics argue that no one benefits from the process. Workers in Canada and other developed countries may lose their jobs, while those in developing countries may gain employment. While working in underdeveloped nations, you will be paid significantly less.
On the other hand globalization enhances the factors related to migration causing workers to move to more developed countries in search of work from their homelands in poorer countries. Migrant workers may leave their family and temporarily relocate to another country. Their home communities, familial and social fabric are being disrupted. Furthermore, the majority of some of their earnings may be remitted home, decreasing the potential benefits of their job in the country in which they work.
Positive Aspects of Globalization:
1) It creates more employment opportunities.
2) It encourages free trade.
3) It leads to a better choice of goods and services for the consumers.
4) It leads to wider investment in developing countries.
5) It enhances the efficiency of the tertiary sector ( banking and finance).
6) It increases the purchasing of citizens and enhances their living standards.
Negative Aspects of Globalization
1) Globalization promotes technological adaptation to increase productivity but has also resulted in the loss of jobs.
2) Most of the time due Globalization people start to dislike their own cultures and values and try to adopt the other cultures.
3) It may lead to the overexploitation of resources and negatively impact the environment.
4) It leads to the harmful effects of consumerism.
5) due to globalization, there is rapid increase in infectious diseases
Written By Saleha Iftikhar (Intern at SSDO)
Edited by Amna Sheikh