Question

In your opinion, is globalisation inevitable? Are the overall benefits of globalisation positive? What would you consider to be the gains and losses from globalisation?

(if possible, please write the answer in 1000 words, thank you!)

Answer 1

Globalization, at its most fundamental stage, implies literally the long-term, global movement towards ever greater interpenetration and interdependence of the economies of the world. And that really is inevitable. Over the centuries their linkages have increased as production processes have developed and become more sophisticated. However, globalization is not anything new to now by this definition: it has been with us since the start of the mechanized economy. Marco Polo and Christopher Columbus, if not more so, were just as much "globalizer" as Bill Gates and George Soros are.

During the 1980s and 1990s only very basic issues were "globalized;" in many other issues there was no "coming together" but instead a moving apart. For example, wealth has not been globalized; it's concentrated further, both within and within countries. Technology has not been globalized either; its concentration in the hands of the High and Powerful is greater than ever. Ninety per cent of the world's invention patents are now owned in the richest countries, highly secured by, among other things, World Trade Organization agreements. Privatized assets can be re-statised, corporate freedoms can be taken away and given back to communities, tax burdens can be shifted from poor to wealthy, pensioners can be euthanized and expropriated.

And although globalisation, in recent years, has not been a new trend, its effect has been more pronounced. This disrupts the way businesses function across the world, combined with rapid technological changes, throwing the new workforce into a constant state of flux, constantly evolving and growing and becoming increasingly difficult to define. As a result, more and more businesses find themselves handling a multinational workforce.

Globalization discourages uneconomic substitution of imports and encourages cheaper imports of capital goods, raising the ratio of capital production in manufacturing industries. Price recovery and the price reduction of produced goods would improve trade conditions in favor of agriculture. Globalization encourages the expansion of consumer goods industries to meet the increasing demand for these consumer products , resulting in a more rapid expansion of job opportunities over a period of time. This would cause the trickle down effect of reducing the proportion of people living below the poverty line

Globalisation paves the way to reduce production method inefficiency. In the absence of globalization, the prolonged protective scenario makes the production system reckless about the cost efficiency which can be achieved by implementing the globalization strategy. In addition to international updated technology, globalization attracts entry of foreign capital, which increases production efficiency Globalization typically restructures the pattern of production and exchange that favors labor-intensive commodities and labor-intensive techniques as well as the growth of service trade.

When you take full advantage of globalization, you are no longer restricted by the talent available in your town. Today your global workforce could be working with an internet connection from anywhere in the world, opening you up to the brightest and best candidates the world has to offer. Managing an international workforce includes teams working across different locations, people traveling and moving countries for work, having a range of different work ethics and practices, and even differences in religion. Each of these can be obstacles, but in the workplace, overall, they are a good thing as they put together various ideas and experiences and perspectives.

Globalization opens up new possibilities for companies to sell their products and services to a much wider audience, bringing more future revenue and greater profits. It may open up other possibilities in terms of the production, transportation, promotion and management of certain products and services, depending on the organization. With more and more businesses finding resources for outsourcing overseas, salaries in the original countries have plummeted for many employees. In the developing world , companies are able to offer their services at a much lower rate than those who live in countries with higher living standards. This means the workers are affected in larger countries.

When goods are produced overseas in factories on behalf of a corporation headquartered in another country, there is potential for stealing and stolen and replicating intellectual property and designs and selling them elsewhere for cheaper. Businesses committed to ethical work practices can find that at any stage in their supply chain and operations, they can not always compensate for certain standards being met. There may be suppliers, farmers, factory workers, logistics operators, for example, who are being exploited or who work under unsafe conditions.

When you work through time zones, cultures and countries and have a workforce that isn't all online at the same time, let alone in the same space at the same time, it can be a struggle to meet everyone and interact effectively. You need to figure out some new communications solutions for the global workforce. The complexities involved in cross-cultural contact need to be understood by staff and management alike. Globalization 's effect on communication involves factors such as etiquette, body language and non-verbal gestures that could be interpreted differently across cultures.

In some developing and underdeveloped countries around the world, globalization has demonstrated the process of poverty reduction and thereby enhances the problem of inequality. In developing and underdeveloped countries around the world, globalisation also presents a challenge to agriculture. As with WTO trade laws, poor and developing countries' market for agricultural commodities will be flooded with farm goods from countries at a rate much lower than that of indigenous farm products leading to a death-blow for many farmers.

Global trade has expanded but trade imbalances have expanded so too. Many countries have substantial trade surpluses and these imbalances create tensions and incentives for the implementation of protectionist policies such as new forms of import control. Many developing countries are victims of export dumping by producers in advanced nations (dumping sells excess output at a price below the unit cost of supply). Some have expressed concern that capital investment and jobs in advanced economies will drain developing countries as companies switch their output to countries with lower unit labor costs. That can contribute to higher systemic unemployment rates.