The problem
Globalization has resulted in certain benefits and shortcomings, some countries are benefiting a great deal than others; in extreme cases, some countries are losing as a result of globalization. Scientific inventions in technology and communication networks have facilitated international trade and movement of people from one region to another, the result of the trade is economic, social, and political gains. Countries that have limited resources and technology have minimal participation in international trade and are net importers; this works to their disadvantage.
The dimension of the problem
Although globalization has had many benefits, it has not been able to encompass all sectors. Many nations continue to experience regional disparities. Poverty rates are still high in sub-Sahara Africa although there has been a fall in its rates in South and East Asia. Statistics from the United Nations (UN) show that about one billion people live on less than one dollar per day and about 2.6 billion live on less than two dollars. it is believed that this has been a result of too little globalization. If globalization is increased, some of these problems can be eliminated.
The benefits of globalization came along with some risks associated with it. These are a result of capital movements among nations. IMF employs policies from time to time that helps nations manage some of these risks. It offers technical assistance in some of the macroeconomic policies, the exchange rate, and the financial sector.
Today almost all nations depend on the global economy. Governments are finding it difficult to respond to their domestic issues as they used to do. There have been many trade agreements that influence the performance of member countries and which put restrictions on the use of their monetary policies. These governments have to rely on the international monetary fund for regulations. Poor nations are becoming poorer day in day out because of the low comparative advantage they have in international trade. They have to rely on the World Bank for aids and grants for development. To curb this, the Doha Development Agenda was launched but it has to yet been accepted. Unless it is accepted, the poor nationals will continue to suffer at the expense of the rich nations which have developed economies and comparative advantage in terms of trade (Schulte, 2000).
In the future, the trend of globalization is expected to improve even further especially with the invention of a digital world, people and countries will have the means and products to trade with each other thus facilitating trade. The world population is on an upward trend, countries are finding it challenging to feed their economies from their own countries resources alone, they are thus willing to trade with others in the efforts of feeding their growing population.
Evaluating evidence
International integration is on an upward rise and it is expected to continue in the future. Countries have contributed to appreciate the benefits they can attain from globalization and have embarked on measures to improve their competitiveness in the global markets. Globalization is taking different shapes which among others include cultural globalization resulting in global culture, social globalization, economic and political globalization. Several international organizations have been implemented in the efforts of managing the global environment; they include World Bank, United Nations, international protocol, and conventions among others.
Type of evidence offered
The writer has used historical, statistical data to develop the two topics; he has used tread analysis to forecast what the future of globalization is likely to be. In the two chapters, the writer did not focus on theoretical explanations however he was interested in testable statistics and data that the world is undergoing. The evidence he offers is straight forward and reflects what is happening on the ground. In the textual and historical context, the writer develops the topic in a straightforward manner where he offers an insightful analysis of the trend in the community at the local and global levels.
Data representation and Idiosyncratic
The data has been presented in a textual and statistically simple manner; the writer does not use any academic jargon or use some information that cannot be tested. He develops the text from a local angle and develops an international understanding of what is happening around the globe (Manfred, 2003).
Can data be interpolated differently?
People have different ways of interpolating data and information; readers of chapters 7 and 8 get one general understanding that some benefits accrue from globalization and at the same time there are some weak points of the system. In chapter eight, the writer analyses and explains how globalization is here to stay and states that if countries can use their comparative and absolute advantages effectively, then the benefits could accrue to the entire globe.
Conclusion
Scientific invention and innovation in communication and transport networks have resulted in an increased international corporation through trade. International cooperation has facilitated globalization; although globalization has had many benefits, it has not been able to encompass all sectors; several nations continue to experience regional disparities.
References
Manfred, B. (2003).Globalization: a very short introduction. Oxford: Oxford University Press.
Schulte, J. A. (2000). Globalization: a critical introduction. New York: Palgrave Macmillan.