Literature Review On Globalization Good Or Bad

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CRITICAL REVIEW Name: Institution: Instructor: Course: Date: Globalization - Good or bad? Globalization refers to increased economic integration as a result of increased trade and investments which then leads to increased movement of people, goods, services, capital, and ideas across the world. The author of the article “Globalization - good or bad?” under review has highlighted the main reasons why globalization is a good thing that should be embraced by all nations. China and India have been cited as classical examples of how globalization can help transform the livelihoods of poor citizens and make them climb the social ladder into the middle class. In terms of International Trade, the author has described globalization as the…show more content…
This may be true as far as international trade laws and regulations are concerned. But, on the other hand, according to Wallerstein (2004), there is a more serious issue of trade imbalance whereby developed countries have an upper hand due to their economic strength advantage, superior manufacturing capabilities, and advanced logistics and delivery systems. In some occasions, Hurst (2008) claims that developed countries impose trade sanctions mostly against developing nations for reasons not directly related to trade such as it stand on homosexuality, prostitution, issues of religions etc. Poor nations would never do the same to their developed counterparts because they would lose more and it would even look…show more content…
Martens & Zywietz (2006) have urged that globalization, as its name suggests, is a global phenomenon that should be embraced by the whole world failure to which the benefits may not be fully realized. I, therefore, agree that all nations should appreciate globalization. Globalization is a good thing that is currently happening to the world. All nations should be encouraged to open up their business, and social structures invite opportunities of integration because they will lead to the betterment of livelihoods of the citizens through increased social-economic growth. Globalization is benefitting even those who really do not appreciate it. The benefits of globalization far outweigh the disadvantages. Those nations that embrace this new trend will experience higher economic growth rates. References Bridges, G 2002, "Grounding Globalization: The Prospects and Perils of Linking Economic Processes of Globalization to Environmental Outcomes". Economic Geography 78 (3): 361–386 Hurst E 2008,Social Inequality: Forms, Causes, and consequences, 6th ed., pp.41. Kaul, I, Grunberg, I &Stern, A 1999, Global Public Goods: InternationalCooperation in the 21st Century, UNDP, New York, Oxford: Oxford University
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