Globalism refers to the participation of countries or states in international affairs such as trade, science, and business. Countries participate in international alliances such as peace and trade agreements. Globalism is a concept that puts the interests of the world before the interests of individual nations. It has several advantages and disadvantages. Globalism has stimulated economic development in countries that have embraced it. However, it has affected the economies of developed countries. For example, it has led to loss of jobs and business opportunities in developed countries. Globalism explains the inter-connections and patterns that exist among countries in the modern world. It affects nations from social, economic, and environmental dimensions.
One advantage of globalism is movement of ideas and knowledge from one country to another. An example is diffusion of scientific knowledge between nations. For example, due to globalism, many nations have successfully eradicated diseases such as polio and Small pox because of access to scientific knowledge. These countries manufacture drugs that cure those illnesses. Professionals from developed countries carry scientific knowledge to developing countries and as such contribute towards scientific development. On the other hand, people carry new cultures and lifestyles to other countries and thus bring change. For example, different religious beliefs are spread throughout the world because of globalism.
Despite the benefits, globalism has drawbacks too. These include loss of jobs, deterioration of infrastructure, and transfer wealth, which have resulted in high rates of unemployment. The United States has lost its sovereignty as the most powerful economy in the world. Due to globalism, the U.S. has relinquished some of its economic powers to organizations such as World Trade Organization, World Bank, and the International Monetary Fund. The economy has also suffered due to international alliances such as “the free trade agreement.” Globalism has led to mergers between the U.S. and other states that do not have a minimum wage limit.
As a result, many Americans have lost jobs because workers in other countries are willing to work for very low wages. This has led to high rates of unemployment that have created a global labor pool in which workers who work for low wages are favored and get jobs more readily. Availability of jobs has improved the living standards of workers in foreign countries and worsened the living standards of American workers who cannot compete effectively. American corporations have also turned to cheap labor from foreign countries thus denying many Americans jobs. International industries have dominated in many areas and surpassed the U.S. Globalism has led to deterioration of the sovereignty of the U.S. as an economic superpower.
Modernity has many benefits because it promotes equity among nations in the world. However, it has affected nations that were described as economically superior. Modernity has given developing countries an opportunity to compete with developed countries at an international level. Developing countries are gradually catching up with developed countries due to factors such as globalization and advancements in technology. As many nations embrace modernity, the living standards of people improve. The future of modernity depends on the willingness of countries to share resources and collaborate in different fields such as science and art. Advancements in technology and science have created hope for a better and brighter future. Countries need to embrace modernity fully in order to enjoy economic, social, and cultural advancements.