Challenges Of Globalization Research Paper

Globalization has become a major topic of discussion and concern in economic circles since the mid-1990s. This essay will focus on what is globalization, the challenges and risks of globalization and what can developing countries do to benefit from it, in order to avoid its downside risks.

According to Andrew Heywood “globalization is not a single- process but a complex of processes, sometimes overlapping and interlocking processes but also at times contradictory and oppositional ones. It is difficult to reduce globalization to a single theme.”

Globalization is an inconclusive world. A world with no borders. It gives no recognition to the differences among the nation. It also denies the division of people into traditional categories. Globalization

Political globalization is when governmental action takes place on a global level. Cultural globalization is the transmittal of ideas and values across the world in a way to heighten and enhance social relations. Economic globalization is the heightening of economic integration and interdependence of national, regional, and local economies across the world.

Globalization has received many criticisms due to its downfalls and challenges. Globalization has Caused Inequality. Noam Chomsky (b. 1928) says that globalization means a global market which denotes a -single price everywhere and single wage system. But the real situation is quite different. The levels of prices and wages are different from one region to another and this has resulted in the differences in wages. In other words, what Chomsky stresses is that globalization has carried with it a great deal of

But for the sake of economic development the authority of the nation-state is forced to oblige and satisfy the foreign agencies. This tendency invariably undermines democracy because the government’s accountability to elector¬ate receives is usually ignored.

Globalization has not been able to reduce economic inequalities and even in most of the countries it has aggravated a great difference in the field of income distribution.

The rights and privileges are not equally or properly distributed and the basic norms and principles of justice are glaringly violated. The combined effects of all these fall upon the normal relationships among the people. The relations come to be strained and there occur frequent conflicts. Where they are powerful they use this situation in their favor by ventilating their anti-globalization views.

The financial benefits are enjoyed by few people and majority is deprived of the basic necessities. The latter uses this situation as a plea for protest and this conclude in criminal violence. The whole society becomes a vessel and it becomes a tough job for the political authority to tackle the situation. It is argued that this is not the normal consequence of