Globalization

4 Pages 1122 Words

Globalization is a word we are hearing more often these days. It is described as a movement that enables individuals, corporations, and countries to reach around the globe farther, faster, deeper, and cheaper than ever before. It is the spread of free market capitalism to virtually every country in the world. With current technological advancements, globalization has become more accessible. Businesses can now manage overseas operations with more control through the use of the Internet and improved telecommunications. Globalization has many characteristics that can benefit some countries while undermining others. To some, globalization is bringing choices and opportunities, while to others it is a disruptive force that threatens lives, jobs, and traditions. In a global economy, markets are without boundaries. Free market capitalism is the driving idea behind globalization. As a result, countries that are willing to participate in the global marketplace are encouraged to open their economy to free trade, privatization, and competition.
Every issue has positive and negative points. Despite the promising progress that the global economy promotes, it is surprising that millions of people do not look at globalization in a positive light. Some organizations, such as human rights activists strongly oppose globalization. Why would so many groups oppose something that can be beneficial to every nation? Human rights advocates argue that multinational corporations erode human rights in poorer countries by establishing sweatshops to benefit their business, such as was the incident with Kathie Lee Gifford and her clothes line. Human rights and student groups claim that the International Monetary Fund (IMF) and the World Bank prop up regimes that condone sweatshops and pursue policies that bail out foreign leaders at the expense of local economies. In addition, globalization would bring massive population shifts from rural to urban ...