The Importance Of Globalization

909 Words4 Pages
Globalisation is an inherently divisive topic, subject to much debate around the world. Some may claim it doesn’t even exist, but to deny its existence would be erring. A businessman may view it as a vehicle to source cheaper goods and services from all areas of the globe, as a strategic tool, or greater competition. An economist may utilise it as a highway to examine its effects on eclectic economies, jobs, and standards of living; to praise, slate, or berate. An ordinary worker may perceive it as a teleporting device to achieving employment anywhere around the world, or a terrible threat to their current work. One thing is for certain, the debate around globalisation is a complicated one, people need to understand the agenda from both sides to gain a grasp of its merits and drawbacks (Wild et al, 2012). The below writing will examine the key debates around equality, national sovereignty and cultural identity. Equality The middle of the 20th Century saw a change as inequality developed between nations as the distribution of wealth across the world became unequal (Korzeniewicz et al, 1997). Today, we are witnessing the emergence of a new global society. Neoliberalism, ICT growth, privatisation, migration, regulations, and the rise of free markets affects all nations. Globalisation has caused a split in the poor nations with the likes of China and India closing the gap on developed nations, whereas Sub-Saharan countries continue to fall further and further behind
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