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Of late, there has been a significant rise of interactions between countries. They are interacting mostly in terms of trade and technology. It is rare to get a country that has no trade link with others. This is because there is none that has enough resources to cater entirely for its requirements. This then brings the issue of globalisation, viewed as the process by which countries “share” what they produce, buy, or sell, with others around the globe.
This is no more than trade, and hence economic globalisation, which result to the establishment of global markets. Though economic globalisation has been there before, its today’s rate of occurrence is a bit higher. Many views have been given concerning it and among them, are the Marxism views. Marxism pictures today’s economic globalisation as being destructive, unstable, among others.
Marxism view of economic globalisation
“The need of a constantly expanding market for its products chases the bourgeoisie over the whole surface of the globe. It must nestle everywhere, establish connexions everywhere.” (Marx 1975). According to this quote, economic globalisation in the unseen nature of capitalism, is spreading at an alarming rate and soon it will be everywhere around the globe.
Marxists points that this globalisation is depriving the world of its heritage and traditions and owing to the crises therein, the whole world is seen to be approaching a permanent disaster. Marxism mentions capitalism pointing out a number of capitalist continents, Asia, Africa, not sparing Antarctica.
Though, crises are known to be more in the developed countries of today, Marxism reckons a time, based on today’s observations of capitalism, when the globe will be industrialised, a situation that will render the world economy unstable. Marxism predicts that as this unfolds, the world will slowly be approaching a depression. Marxism movement bases its arguments on the entire globe criticising the rising capitalism.
Besides this, Marxism has presented a precise view of the misuse of labour as well as the changes arising in the field of politics. Marxist economic analysis shows that currently, the United States leads in capitalism posing that it is experiencing a high competition from Japan, among others.
In the near future, not far from today, Marxism presents the view that, these capitalist countries will be many and their oppression to the working class will be on the peak covering virtually the entire globe. This is why Marxism posits that the economic globalisation of today carries with it the destruction of the globe.
Though it was highly criticised, virtually all the predictions made by Marxism are evident in today’s economic globalisation. Mass redundancy, world capitalist calamity, introduction of technology that would bring about the reduction of working hours, world-wide fall of profit levels, the rising living standards, not sparing the third-world war, to mention a few, were among the issues Marxism pointed.
It stands out that almost all are being experienced today in the whole world. It is deducible that Marxism had the picture of the state of the global economy as possessing the aforementioned characteristics, which are evident today.
Marx, K (1975), Manifesto of the Communist Party, Moscow, Progress Publishers.