Globalization essay
The term globalization refers to the economic integration and interdependence embraced by nations post World War II. Advances in science and technology have enabled new inventions that have made life easier for citizens. The new order has influenced the world both positively and negatively in the areas of trade, communication, and economic development.
Globalization and the resultant international trade policies benefitted developed countries at the expense of the developing world. According to Horowitz’s (2006) article, globalization is considered a new form of colonialism. Just like the colonial powers exploited the resources of African and Asian countries for their development, globalization has led to the utilization of the developing state’s natural and human resources. The trade policies ensured the colonies consumed imported goods while enriching the exporting nations immensely. The imbalance is even exaggerated, considering that the developed world obtained raw materials from their colonies at no cost only to sell them back to the original owners expensively. Similarly, developed countries take economic advantage of the developing nations under the guise of globalization.
Globalization is responsible for easy access to information in the 21st century. Kupchan (2012) states that, “The digital age and globalization have combined to disseminate information and allocate investment with unprecedented rapidity” (p. 89). Access to information at all levels has contributed to the shift from agro-dependence to info-dependence. The expansion of Information Society is beneficial as members no longer depend on physical ability to get work done. In addition, sharing information is easy through computers and internet technology. These developments have revolutionized the global community and elevated local societies to an international level.
Globalization has enabled faster cross-border exchange, but has also crippled the economies of developing countries. The economic, political, social, and cultural changes witnessed in the last half-century have resulted from the rapid scientific revolution, coupled with an emerging expansion of transnational movement of goods, services, and capital.