Economic Globalization

← Oil Tariffs and US DevelopmentFinance →

Buy custom Economic Globalization essay

The world has been reduced to a global village due to the dynamism of the modern life. The concept of globalization is used interchangeably with globalism, denoting opening up of the regions for cultural, economic, and social interests. One of the main agents that have actively aided globalization is technology. It has greatly eased communication nowadays. The interaction of people at any level is effectual. Diverse backgrounds, geographical location, and transport do not act as barriers to communication. However, while the concept is hailed as a bridge to the world’s tranquility and economic breakthroughs, it has side effects. They include economic, social, political, and even cultural problems. Some of these side effects are intertwined; consequently, they interrelate with each other. Besides, some of these issues have the individualistic impact on the lives of people. The following paper considers and discusses economic globalization and its effects at my personal level.

Economic globalization is an appendage of the globalization concept. It involves the interdependence and integration of the different nations’ regional and local economic interests. The goods, services, technologies, and capital are moved across borders with the increased intensity after a pre-arranged agreement. The cross-border movement is a fuel of the globalization process. The economic globalization slightly differs from the mainstream globalization in the sense that it thrives on the significance and unabated flow of information. The information in this context relates to all economy, production, and marketization of innovativeness. The flow of information is centered on a vibrant science and technology. The governments benefiting from economic globalization underline the core importance of information availability to the masses and policy planners. Economic globalization involves crafting of treaties between countries. In our class discussion, we distinguished positive and negative aspects of economic globalization. he positive effects include increased chances available to people, and access to new markets among others.

On the other hand, the negative impacts include widening income gaps between various social classes. Others are infiltration of foreign cultures which erode the societal social fabric and increase immigration across borders. The immigration aspect is of most interest because of its multifaceted nature. There is a wide-ranging debate in the United States on the handling of the immigration issue. The immigrants infiltrate the indigenous cultures and very often erode the cultural status quo. Most deviant behaviors have been associated with this problem. For example, gayism, which is a culture from the West, has found its way abroad to the chagrin of the local community. The styles of dressings also have brought issues. Many conservative societies, especially among the Muslim and African communities, maintain a rigid moral purity framework. However, these have been affected by the easily permissive cultures of the West.

Further, the concept of immigration in economic globalization has resulted in serious international crimes such as human trafficking. The trafficking, which is an offense in most legal regimes, is aided by the free movement allowed by porous borders. The porous border is necessitated by economic globalization, allowing goods to move easily in trans-border trade framework. Moreover, drug trafficking has also been an effect of permissive immigration regulation. The permissiveness is an important facet of economic globalization. Drug lords take the advantage of faster communication and transport networks to outsource market and accomplices in the trade. It is a global phenomenon which is running many lives and families, at the same time making a few people billion dollar rich. The influx of immigrants, especially in the US, has led to increased crime rates. The cases of homicides and gang robbery, among other criminal activities, have been growing in the US. In fact, a research has shown a correlation between the crimes with the enlarged influx of immigrants, especially the illegal ones. Indeed, immigrants’ flight and movement across the globe has led to such crimes as terrorism among other insecurity challenges.

In the same breath, there is an increased wild game poaching. The wild game has been a subject of international trade, as people look for valuable ivory. Many Americans and other westerners consider the sustained influx of the immigrants as a threat to their economic life. They fear that if the rate goes further, they will face the threat of increased job scarcity, hence high living cost.

At the personal level, drug trafficking has affected my family directly. My elder brother got into the illegal trade owing to the free movement of the product. He was later arrested and prosecuted in France. The other outcome is the constructive side of economic globalization. Those who work in business outsourcing departments in various companies have an easy time in doing their work. The online sale and marketing has been very successful in reducing the sales cost. I work as a sale agent of a company and do my work in placing orders, which has been made quite easy. It is not strenuous. Moreover, I am able to reach an extensive scope of customers in a short period. In essence, economic globalization works on the thread of the availed communication and information access.

Economic globalization is one of the areas that nations and regions promote. The concept has been alluded as the basis of bilateral trade engagement among nations. It is important to take care of the process to ensure that the challenges that come with it are well managed. Immigration is a hot topic and a subject of political debate in the United States. The debates have been raging due to the baggage that it comes with. However, economic globalization has many positive effects that should be harnessed. It is vital for the long-term global stability as well as my personal life.

Buy custom Economic Globalization essay

Related essays

  1. Finance
  2. Oil Tariffs and US Development
  3. Fundamentals of Macroeconomics
Close
 
 
Happy Father’s Day! Get 17% OFF any order

discount code:

BESTFATHER
X
Online - please click here to chat