Globalization can be described as how nations from different parts of the world are becoming more interconnected. Essentially, it also captures in its scope the economic and social changes that have come about as a result. It may be pictured as the threads of an immense spider web formed over millennia, with the number and reach of these threads increasing over time. Therefore, the interconnection has been influenced by forces like advanced technology, transportation, global finance, and the media; through globalization, the economy of states has been boosted, and new hostile cultures have also been formed.
For example, globalization can boost the economy and raise living standards while posing risks to the economy’s health and the welfare of workers. Gathering support from speeches and films of world-renowned figures that address the effects of globalization on our daily life. Globalization has helped emerging, and industrialized nations’ economies expand by creating a market for products and services (Bailey, 2015). The Gross Domestic Product, commonly known as GDP and typically expressed as a percentage, is the most common way to quantify economic growth. Macron, in his speech, talks of equalitative efforts from states and civil societies to help enhance globalization. He talks of building a France recognized by all and one capable of standing behind those forgotten by globalization (BQ Prime, 2018). By aiding and abetting emerging nations by providing loans to strengthen their economies, globalization has encouraged peace among nations.
Instead, the interaction of many groups in our culture has impacted the formation of new cultural practices that are hostile to specific communities. On the other side, given that most of our jobs have been replaced by robots, the media has impacted the third generation, rendering them indolent. Other issues, such as escalating violence, moral decay, and a lack of employment due to population growth, have a negative impact on people’s lives. The increase in commercial fraud brought on by globalization has impacted the world market. Warren Buffet talks about trade wars and how they have affected the global marketing system (Fox Business, 2018). He speaks of how producers do not want the trade wars to be passed to customers since it will be a great crisis. Essentially, it is also noted that human beings have the right to life, to vote, and anything that pertains to them and is legal, as portrayed by the constitution (Frank, 2001).
The US government’s dissatisfaction with the results of globalization is shown in the current implementation of and hikes in tariff levels on specific groups of imports. The US government implemented nationalist and protectionist policies to compel the relocation of industrial jobs, particularly labor-intensive jobs, to the US. Immigration has increased in this region purposefully to market products and improve the state’s economy (Kamarck et al., 2022). According to the research, the labor stagnation between and within nations has caused globalization-related dislocations in several developed economies. Artificial immigration barriers between countries impede the movement of workers, and labor market rigidities and the lack of perfect substitutes within nations hindering the movement of labor from lagging to flourishing economic sectors, resulting in significant income disparities (PRB, 2010).
In conclusion, it is evident that globalization is an aspect that is helpful in today’s world. However, the interaction can be a problem whenever wars are present. Forces, including cutting-edge technology, transportation, global finance, and the media, have impacted interconnection. Generally, it ultimately affects communities and societies negatively and positively. Essentially, no nation can thrive in solitude; instead, allowing all production factors to circulate without limits would enable all individuals of the advantages of globalization to be realized.
References
Bailey, R. (2015). Globalization is good for you!Reason. Web.
BQ prime. (2018). Emmanuel Macron At WEF 2018: Globalization A Major Crisis [Video]. YouTube. Web.
Fox Business. (2018). Warren Buffett: We do not want trade wars [Video]. YouTube. Web.
Frank, T. M. (2001). Are Human Rights Universal? Center for Learning Innovation – Bellevue University.
Kamarck, E., Hudak, J., & Stenglein, C. (2017). Immigration by the numbers. Brookings. Web.
Population Bulletin Update: Immigration in America 2010. PRB. Web.