Free Essay Sample «The Globalization»

«The Globalization»

The article is a speech on globalization and its challenges. The globalization debate has been rife for decades and is intensifying. Critics have highlighted various adverse effects of globalization such as global inequality and poverty that adversely affect the developing nations. Additionally, the paper addresses policy issues related to globalization such as trade liberalizations that have benefited the developed nations at the expense of the developing countries. Proponents of the debate appreciate the need for developing policies to address the issues raised by critics. However, it is critical to realize that the debate will significantly affect the policy measures in both developed and developing nations.

The paper is concerned with globalization, the opportunities it offers and the challenges. Globalization was initiated after the World War II with the aim of aiding the development of the developing nations. The developed nations injected capital into the developing nations offering them an opportunity to fuel their future growth. Capital injection was in the form of FDI, and was critical in the development of transport and communication infrastructure. Conclusively, the paper argues that globalization offers numerous opportunities for the prepared nations and threats to the unprepared nations.

The article is a speech that was delivered to the Detroit Economic Club. The narrator argues that globalization offers various opportunities, more so to the developed nations. Globalization has significantly increased global demand for the American industries. Despite the recent global financial crisis that has curtailed the opportunities, globalization offers various opportunities in the long run. Thus, globalization should be perceived with optimism due to the various opportunities it provides in future.

The article addresses the impact of globalization on the spread of the recent financial crisis, which originated in the United States and Spread globally. The author blames the spread of the crisis on globalization. Additionally, the author argues that globalizations has led to the adoption of policies such as trade liberalization, reliance on the market forces in the determination of prices, and the reduction of welfare. These policies have hurt the economies of developing nations. Furthermore, the FDI by foreign corporations has mainly been rendered developing nations overly reliant on FDI inflows. Countries that are highly dependent on FDI inflows were adversely affected by the global crisis. Thus, the author conclusively argues that globalization has hurt more than benefited the developing nations.

The paper addresses the issue of financial globalization, its benefits, and harmful effects to the developing nations. Initially, only the developed nations took an active role in the process of financial globalization. However, the developing nations have joined the process. The author highlights the latest developments, the key players, and the requirements for effective integration of the global economies. However, the author is keen to highlight the risks of globalization to developing nations. Thus, the article argues that there is a need to put in place an appropriate financial infrastructure for an effective integration of the global economies.

The article is an argument in support of globalization. However, the author advocates for fair globalization, which creates opportunities for both the developed and the developing nations. Globalization has created numerous opportunities, and led to increased interconnectivity in terms of trade, finance, investment, and productivity. However, the author is concerned with the inequality generated by the process of globalization. Thus, the author concentrates on highlighting and addressing the inequalities generated by globalization.



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