Essay Sample on Globalization: Controversial Views, Diverse Definitions

Introduction

Globalization, a very controversial topic, received different definitions by scholars who seem to have different opinions of globalization. The concept dates back to the 1940s although it lacked popularity until 1990. Some people see it as Americanizing the world while others view it as the concept of interaction between regional, global, regional and national entities. Globalization process expands, deepens and speeds the interconnectedness in the new aspect of life. According to, (Mourdoukoutas, 2011) globalization entails increased integration and interdependence on and oversees market which contains three flanks, namely, the ugly, good and bad.An excellent team involves the chances and competences of the uncluttered marketplace, while the nasty side entails the risks and uncertainties of globalization.

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The positive side of globalization seems to agree with my opinion of Panos' understanding of globalization. The point on stationing the global markets into a series of revenue and occupation chances seems so strong the knowledge of current economy (Mourdoukoutas et al. 2011). I would agree with this point since it points out the truth in the present and future prosperity. The concept of globalization contributes so much to the behaviour of world economies for several years.

The wrong side of globalization contains points that I would term nonfactual and low on needed research to conclude globalization as being wrong (Mourdoukoutas et al. 2011). The concept of setting the world economy into unemployment nightmares seems a fallacy since the idea contributed so positive into employment rates according to the employment rates since the idea began.

The concept of globalization sparks several discussions which lead to various controversies. Globalization proves a lovely concept to business enthusiasts but remains one of the most controversial ideas internationally. According to (Mourdoukoutas et al. 2011) globalization entails two significant sides, the good and the wrong side. The bad side of globalization implies a decline of money flows across the economies tight credits and deleverages due to creditors tightening of both bad and good borrowers. This concept leads the globe into a culture of vicious income cycle, unemployment and decline in the global market.

The right globalization side entails easy credit and rise of money flow across the state borders and failure of credit companies distinguishing among the blameless and unscrupulous borrowers (Mourdoukoutas et al. 2011). The concept sets a competitive environment and creates a successful cycle of economic growth in terms of employment and income generation. In my opinion, the right side of globalization seems the best definition of globalization.

The proponents and the opponents of the globalization idea give rise to these controversies. The proponents of globalization argue that the third world countries gain a lot of benefits since the concept helps the countries develop economically hence contributing to the growth of living standards. The opponents, on the other hand, argue that globalization acts as an exploitative tool by the first world countries through exploitation by cheap labour and raw materials. This paper looks at globalization in terms of proponent's argument. The concept of globalization proves positive in the current world, as the article demonstrates in the discussion.

Any person against the concept of globalization in the current demanding and rising world proves an enemy of progress. The idea of globalization contributes positively to the trade improvement for many firms looking for trade opportunities beyond the border limit. Globalization enables most stimulation of most economies, such as the technology sector and transport (Suci, Mulatsih and Asmara, 2016). The movement of amenities and commodities across the globe contributes positively to the trade improvement. The concept of globalization provides consumers and firms with a wide variety of products to choose from hence creating a competitive market. The competition brought by the globalization concept contributes to the growth of trade across the world. This trade-in turn contributes to the improvement of the respective countries' economies.

The concept of globalization led to the growth of the business through the opening of trade barriers and domestic reforms which makes the transfer of goods and services across borders easier (Suci et al. 2016). The concept of opening trade barriers attracts investments from firms across the world which in turn contributes to the steady international growth rate. The idea of trade growth comes with other benefits such as an increase in the employment sector as well as lowering of customer exploitations.

Globalization proves beneficial in the creation of employment chances. One factor behind the exploitation of trade growth entails business developments. The rise of exportation means that firms sell more to foreign markets hence increasing international sale statistics and firms investments in overseas economies. The removal of trade barriers enables traders to venture into other countries. This concept contributes to the creation of job opportunities to the natives where a company invests. For example, the Swedish technology firm, Ericson benefited many countries where the firm set up branches as a result of globalization (Suci et al. 2016). The setting of tech companies in other regions provided jobs in the technological and manufacturing sectors. This concept comes with the idea of a reduction in the cost of production for the company.

Globalization reduced the cost of living through the reduction of consumer prices. Many opponents would, however, disagree on this concept. The new employment opportunities created by the idea of globalization leads to lowering of end-user expenses (Suci et al. 2016). The western households possess a completely different standard of living as compared to past due to benefits emanating from the globalization concept. The opponents of globalization agree that consumer products cost less and are of better quality compared to previous times. Economist agrees that globalization concept contributed to disinflation in the western countries.

In my opinion, I agree with the positive side of globalization according to Panos since it looks at efficiencies and opportunities created by the global market. The concept of the smooth flow of money proves positive, looking at the current economy, which highly relies on globalization. Access to local and foreign currency proves a straightforward task. However, I disagree with Panos on the concept of uncertainties in the globalization since as a business enthusiast, one needs proper preparation in case of any change and risks involved in the business world.

The writer and I share a standard view of the right side of globalization. The concept of globalization, according to my discussion, focuses on the positive contribution of globalization that agrees with the writer's suggestion of globalization being a positive concept (Mourdoukoutas et al. 2011). The writer suggests efficiencies of open markets as I suggested free markets creating jobs, reducing the cost of living and protecting consumers from exploitation.

My opponents in my view of the concept of globalization positivity would criticize my argument for emphasizing on the western market. The idea of globalization in my proposition seems to favour western countries more (Beneria, Berik, & Floro 2015). The proponents would, however, get it wrong since I have touched so much on the issue of countries outside the western world. The concept of job creation and other positive contribution expounds on the third world countries. The opponents of globalization who would critique my opinions should understand that globalization concepts apply across all the markets regardless of the global region.

The concept of globalization will always attract discussions since the ideas keep evolving and diversifying. The proponents will never agree on most occasions with the proponents of globalization (Beneria et al. 2015). However, there exist some concept of globalization that never attracts controversies. The idea of job creation and lowering standards of living remain a concept all economists agree on despite the concept alienation. The design has the ugly, the good and the wrong side, but some factors always triumph over these concepts.

Conclusion

Globalization continues to impact on the world economies in various ways. Globalization aims at reduction of military conflict, creation health business competition and equal distribution of wealth. Globalization concept benefits the world through, technological innovations and inventions, foreign investments, the realization of economies of scale by firms (Suci et al. 2016). The concept also poses risks in the financial world. These risks include unfair equity distribution, interdependence, and rise of national sovereignty. The best idea in avoidance of these risks entails the restoration of voices to labour and income and job stability. Globalization proves unavoidable in the long run, and constant change seems constant from the history of economic crisis. The concept of globalization shows the future of economics.

References

Beneria, L., Berik, G., & Floro, M. (2015). Gender, development and globalization: Economics as if all people mattered. Routledge. Retrieved from http://revistaeconomiacritica.org/sites/default/files/LinaGalvez_LourdesBeneria-GunseliBerik-MariaFloro-Gender-development-and-Globalization.pdf

Mourdoukoutas, P. (2011). The Good, the Bad, and The Ugly Side of Globalization. Forbes Online retrieved from http://www.Forbes.Com/sites/panosmourdoukoutas/2011/09/10/the-good-the-bad-andthe-ugly-side-of-globalization.

Suci, S. C., Asmara, A., & Mulatsih, S. (2016). The impact of globalization on economic growth in ASEAN. Bisnis & Birokrasi Journal, 22(2), 79-87.Retrieved from http://www.ijil.ui.ac.id/index.php/jbb/article/viewPDFInterstitial/5696/3627