Bad Effects of Globalization

The Good:

Globalization is a very empowering thought. Imagining the implications of global connectivity with regards to education and business has excited many an economist and politician. The Communication Revolution that we are currently amidst has added color to the concept, with distances being covered in seconds. The promise of unified within a single society by global leadership is something that is as appealing as its larger implications are alarming. The preservation and combination of technological and socio-cultural forces can actually nurture international economy through dedicated integration of trade and commerce. With internet technology at our finger-tips, it is not very difficult to envision the subsequent capital flow or migration.

The Bad:

Globalization is not a concept without explicit scope for internal policies protecting respective industries or the implication of diminution of enforced restrictions on exchanges. While crossing borders and integrating a complex system of trade and production seems very attractive, one cannot ignore the 'flattening' effect of the practice. Globalized trade and dedicated outsourcing of resources are bound to result in a conflict between various distinctive political forces. The ideology will of course continue to have an increasing impact on organization of business practices, but not without trade and exchange relations being affected. Globalization creates a broader platform for a range of foreign products and the movement of goods between and within boundaries. This coupled with the scope of increased access to external financing is challenging the financial crunch that is also responsible for the recent period of recession. Market interconnectedness has paved the way for inter-dependency and in turn, an economic collapse.

The Ugly:

Globalization is channelized via international institutions that are designed to supervise processes that are related to education, migration, world cultures and heritage and business. This has in turn facilitated advances in technology and reduced the cost of trade negotiations. Free trade is not one that can or will be easily incorporated within developing or under-developed market based economies. International agreements result in reduction of tariffs, transportation costs, capital control and subsidies. The restrictions thus imposed on intellectual property and supranational recognition charge cultural globalization, to add strength to the already powerful and make the struggle even more uphill for those battling market forces.

Use of communication technology to further the interests of homogenization leads to harbored traditional diversity amidst an outward claim of 'retained individuality within international integration'. The signs are all around and clear to see. The flip side of the coin highlights trade disputes, conflicts in bilateral and multilateral agreements on trade and education and barricades that hamper movement.

The growing concern towards the implications of global terrorism is not without base. Global conflicts are inter-woven with the attempts at globalization. The strategy also has a very negative impact on cultures around the world. The influx that is the outcome makes it impossible for a society to check the disregard of what is uniquely their's. Acceptance of imported goods and services do affect national income. Internal and external migration and investment opportunities tip the balance required for nations to enjoy the status of 'developed' or 'developing'.

Bad Effects of Globalization:

Globalization is supposed to fuel and guarantee social, political and economic unification. However, developed and established economies continue to exploit the 'sharing' business to empower their own strong and wealthy economies. Subsequently, in the political arena, the reallocation of power is surfacing in the form of industrial and technological rivalry. On the social front, the world is now at a loss in the attempt to guard and flaunt diversity that is enriching. The random influx of ideology and lifestyles and unmonitored inter-cultural communication has resulted in the creation of a pseudo culture that is common across boundaries.