Main goal of globalization process was simple - connecting. World became smaller and more reachable. People and companies became more linked. What about other segments of its action? Did the negative sides that surfaced overshadow positive ones?
Even though the term globalization was established in the 1970s, the beginnings of globalization can be traced back all the way to the late 19th century and beginning of the 20th. With industrial revolution, ingrowing trade and general progress of the civilization it became clear that further uniting was inevitable.
The globalization is mainly economic process but it also covers wide range of cultural and political relations worldwide. It seems like the progress is unstoppable and it is not going to slow down. Increasing economic interdependence, transmission and exchange of ideas and overcoming the traditional national borders is happening. It makes us wonder: is that a good thing? We have set our expectations high and supposed only positive outcomes. Lets begin with the negative ones.
The financial meltdown happened in 2008 and we still struggle with the consequences. Skeptics and anti-globalists welcomed all the validations of their opinion and they are being loud about it - the globalization process is doomed to fail. In spite of that I would describe the globalization process with altering the lyrics of Pink’s song: “It’s not broken, it’s bent”.
The main argument against globalization is asymmetry between the rich and the poor. It is being criticized for not spreading its benefits fairly, making the rich richer and poor even poorer. Another critique associated with previous one is that it neglects different cultures forcing them to assimilate into much more spread Western culture. Not being able to fully take advantage of its perks makes people skeptical about globalization.
As it has been said, globalization is a process and as a continuing process it has its ups and downs. It resembles a straight line that sometimes oscillates. Therefore, lets not forget all the benefits.
Looking at the bigger picture, it helps reducing the poverty. Free market makes the exchange of labor, ideas, knowledge and capital possible. It creates more jobs, makes companies more competitive and as a result it lowers the prices. New technologies and new inventions make our lives easier. Developing countries get their share as well, through foreign investments, capital and technology helping them progress. It made us connect and become closer despite the distance. Consequently we became more open and tolerant towards other nationalities and their cultures.
In conclusion, globalization process may have lost trust from many who had their expectations high, but that does not mean that it failed in its basic purpose - global connection and progress of humankind. It just means that it has to be modified and its flaws fixed so that it can reach its full potential.
What do you think about the globalization process? Does it benefit the humankind or not? Is there any alternative to globalization?