ACPAL, RIZZA MAE G.
BSA-2
GLOBALIZATION
Globalization is a mixed blessing to all the countries in the world,
having an implicit duality which offers both advantages and
disadvantages, opportunities and threats. Considering that the existence
of globalization has its built-in double-edged effect, it is essential to
explore all the different aspects that are connected to its ripple
consequences.
According to sociologists Martin Albrow and Elizabeth King,
globalization is defined as the process by which the people and the world
are incorporated into a single world society. In other words, globalization
is the catalyst to the rapid increase of interdependence and
connectedness of the world’s economic and cultural aspects through
utilizing and wielding global trade and technologies.
Through the phenomenon of globalization, there is a constant
moving process of global unification, which seems to accelerate as the
years and centuries pass. This indicates that the globalization today is
different from the globalization of 50 or even nine years ago. It can be
visualized to the threads of a colossal spider web that has grown in size
and reach over thousands of years. In the modern era, humans from all
across the vast stretch of the world are brought closer. Additionally, a
variety of items have moved along these silky strands more swiftly and in
greater quantities than ever before, including commodities, services,
money, ideas, and even disease.
Given the enormous and dynamic power of globalization that can
change the world and the daily lives of the people, it is crucial to have
sufficient understanding on how globalization began, how it works, the
opportunities it provides, and the drawbacks it develops in order to fully
utilize this immense power.
Globalization began when the economic and governing system of
Roman Empire had spread through the significant portion of the ancient
world for centuries. As with future globalizing booms, the Silk Rode trade
had emerged. It is an ancient network of trade routes across China,
Central Asia, and the Mediterranean used dated between 130 B.C. to 1453
A.D. (National Geographic Society, 2022). These types of trades grow
rapidly during Pre-World War I, when European countries made significant
investment overseas from 1870 to 1914. This era becomes the golden age
of globalization. The web of globalization continued to spin out during the
Post-World War II, when the United States took the initiative to establish a
universally embraced set of international regulations for the global
economic system. International cooperation and free trade are promoted
by multilateral institutions like the World Trade Organization (WTO),
International Monetary Fund (IMF), and United Nations (UN).
ACPAL, RIZZA MAE G. BSA-2
With the Information Age, globalization accelerated. Modern
satellites, the Internet, the World Wide Web, and innovations in
transportation vehicles have all had a significant impact on economies
around the world, making them more information-based and
interdependent. These digital revolutions such as the advances in
computer, transportation, and communications technology, also launched
a new global era and redefined what it meant to be "connected." In the
present day, every significant global economy is affected by the economic
success or failure at one focal point of the global web.
Proceeding to the advantages and disadvantages of globalization is
an ideal subject for debate. The benefits of globalization have made direct
and sustainable contribution to the global economy. However, these
benefits also have its own consequences.
The innovation of technology plays a crucial role in modern
globalization. For instance, how businesses are done nowadays has been
influenced by the Internet. Through global marketing, businesses and
consumers now have access to a greater range of nations.
Correspondingly, through globalization, mutual dependence between
world markets arises because trade leads to exploitation of the conditions
of profit rather than enforcing country borders. Such systems give rise to
open economies that are devoid of constraints and where free trade is
practiced. In order to facilitate the free and easy movement of products
and services between the two countries, efforts are made to reduce trade
barriers globally. Thus, industrial organizations are becoming more
dynamic as a result of globalization. Open markets and free trade,
however, have the drawback of fostering unfair rivalry between big
multinational corporations and small businesses. This aspect widens the
economic gap between the rich and the poor, where rich become richer and poor
becomes poorer.
Moreover, exchange of information among nations becomes faster
and efficient. This helps each nation to gain more knowledge about the
cultures and traditions of other countries, which can help in greater
understanding of nations around the world and eventually, a bigger
possibility to build world peace. The benefit of cultural awareness has,
however, also resulted in the deterioration of cultural identity.
Globalization has the power to put indigenous languages and cultures in
the verge of extinction.
Lastly, developed countries are also now able to help the developing
countries through investing their huge funds to them.
Globalization, at its core, is as old as the first interaction of nations
with one another. It is a constant and active process of simply trading, the
effect of trading, and how we maintain our peace relationship between
nations. Definitely, there are downsides of globalization. However,
ACPAL, RIZZA MAE G. BSA-2
globalization offers more benefits and advantages to the world that it
cannot be blame for the negative effect it brings. Nevertheless, these
disadvantages will be overcome if and only if, they are address properly.
Through this, globalization can indeed bring global peace and harmony to
the world.