Globalisation: Positive or Negative Impact on the UK Economy?

This essay delves into the multifaceted impacts of globalisation, analyzing its effects on economic, social, political, and technological domains. It examines the benefits of increased trade, investment, and technological advancements, particularly for the UK economy, while also addressing the drawbacks, such as the challenges faced by small businesses, political implications like immigration and national sovereignty, and the cultural homogenization resulting from the spread of global brands and values. The essay further explores the environmental consequences of globalisation, including increased resource consumption and pollution, and concludes by emphasizing the need for sustainable development and a balanced approach to globalisation that considers both its advantages and disadvantages. The essay highlights the mixed reviews of the public regarding globalisation and the need to address the challenges. It also emphasizes the importance of government policies to mitigate the negative impacts on the environment and society, advocating for a responsible approach to globalisation.

Research Skills

Topic: Impact of globalisation-positive or negative?
Globalisation is stated to as intermixing of culture of a nation with rest of the world. It is
a situation in the economy in which there is an free flow of goods and investments across
international boundaries with the help of agreed norms and conditions. The concept of
globalisation tends to affect social, economic, political and most importantly technological
domain of the country (Gallhofer, Haslam and Kamla, 2011). The popularity of this concept have
helped in undertaking this topic for research and to identify whether it is good or bad for
economy of the country. There will be use of concepts, theories and model which will lead to
identify whether globalisation is good for economy or not.
It would be unfair to deny the importance which has been catered by globalisation in the
life of people. The changes can be identified in the educational curriculum along with expansion
of fast food chain and organisation throughout the globe. The foremost benefit which could be
availed through globalisation is enhanced opportunities for trading for organisations carrying out
their operations in the United Kingdom. Developed countries can invest their resources and
capital in countries which are emerging leading to additional revenue and profitability. This
feature carried a positive impact on economic aspects of the country leading to development. The
rise in the trade practices have definitely enhance interdependencies which is being carried out
within nations. The organisation carrying out its operations in the international grounds will be
able to avail absolute and comparative advantages leading to upliftment of the firm. A business
will be able to enhance its operations can widen the gap production when compared with a rival
organisation (Asongu and De Moor, 2015). The supportive achievement which has been
considered due to this factor is that scale, volume and efficiency relating to operations have been
increased. The consumers in this segment have benefited as well as they are now able procure
more of goods and services with similar level of income. It can be said that expansion of
organisation over international jurisdiction lead counter situation of unemployment and decaying
infrastructures which are persistent in the economy of nation. But the setback in this approach is
that small organisation and enterprises which are operating in the market fail to compete with the
cheaper goods which have been supplied by multi-national organisation in the country.
Therefore, it can be said that concept of international trade is only beneficial for organisation
who possess the ability to operate on the international level and harmful for enterprise operating
at initial stages of business.

Globalisation carries an direct upon the political environment of a country as well. The
excessive transfer of people and resources arises situation of immigration, poverty and
unemployment in the country. The United Kingdom have been a crucial part of European Union
which means that political decision by the government are carried out beyond national
boundaries. However in the recent times, this country have shown great deal of reluctance for
their participation in the European Union. The decision which has been taken by citizens of the
country in opting of EU referendum is an straight deniable to aspects of globalisation. However
the governor of bank stated that it does not have anything to do with the cutting of from rest of
the world it was aimed to control inflation which is being spread in the country. The government
has identified that it will be challenging to retain relation that this country shared with other
nations. The struggling labour market in the economy by shutting down immigration and influx
of people looking to find job in the economy. The restrictive immigration practices which is
being practised by this economy have been forecasted to bring positive results (Asongu, 2017). It
is essential for this government to restore economic balance so that better economic
circumstances can be availed. This country is known to be planning and practising replacement
of the third country market with national services so that initial economic shock could be
countered. Such instances have led people to question worth of globalisation in contemporary
environment. The countries are looking to reinforce their national borders so that good and
service going in and out of the country can be tracked and measured. It can be identified that
there is lesser significance of globalisation on the political grounds and identified to be one of the
root causes of the situations such as illegal migrants, labour insecurity and rise of products and
services in the country.
Cultural globalisation is referred to an approach which involves movement of ideas and
people across boundaries of a nation. The concept of global village is further being reinforced
through internet, transportation and communication approaches which are prevalent in the
market. This cultural integration have led to spreading of believes, value and behaviour on to the
international level. The concept of cultural globalisation can be further explained through food
consumption. There are distinct consumption patter in the different countries which has been
countered with the immense popularity which has been gained by fast food giant such as
McDonald's and Coca-Cola (Williams, 2011). The research conducted in this domain have stated
that people in the Asian and South-American region have opted for high consumption pattern

which are being popular in the western counterparts. There is an enhancement in tourism domain
as well and people are now more inclined to spend their money on travelling and exploring the
world. The culture of United States has been identified to play dominant role in this
phenomenon. The reinforcement of culture of a nation does no go well with the people who are
known to possess traditional approach to their thinking. While carrying out of operations and
marketing it has become crucial for organisation to consider values and beliefs of local culture so
that more sales revenue can be attained (Jasic, Krajnovic and Cicin-Sain, 2013). This means that
organisation and people will be more aware culture of people which is being practised in that
country. There have been no denying in the fact that globalisation tends to create an impact upon
the diverse culture which are present in the economy. It has always been argued that
globalisation will not carry any harm in the long run upon culture of an economy but in short run
it may threaten diversified culture in a nation. The research conducted on the subject topic have
identified that every culture acts differently to the aspects of globalisation and English people
have been able to incorporate this feature in their own culture for its enhancement.
The impact of globalisation can be ascertained through rapid transformation of
technology and with separation of information and communication. It has been identified that
public contains mixed reviews when it comes to globalisation but they are aware with the fact
that technological advancement have led to creation of new opportunities of products and
availability of products at cheaper price. The technological advancement in region have carried
multi-faceted approach as it possess numerous benefit to be availed in the future. The digital
sector is known to contribute significantly to the economy of the United Kingdom. The last
recorded digit states that there have been contribution of the approximately £118.4 billion which
accounts for approximately 7.1 of the total Gross Value Added for the country. In terms of
employment, 1.5 million people are employed in this sector for the year 2016. these evidences
are enough to states that technological revolution which has been incorporated through
globalisation have been beneficial for the economy. The government is encouraging people to
take up cyber and data security approaches so that requirement of the future could be fulfilled.
There will be an additional requirement of approximately 1.2 million people in this particular
sector. The technological advancement have led to the development of online platforms for
trading as well as social networking. The major advantages which can be availed through this
approach is that it caters individual with certain degree of flexibility through which an individual

can carry out its work. People have also speculated related to rise of the gig economy in which
they are offered with short term contracts instead of availing long term employment contracts.
There is a trend of availing short term benefits rather than looking for long term employment
opportunities in the country which have impacted upon mobility and unemployment rates in the
country. The major benefit which can be availed through rapid evolution of technology is that it
facilitates right collaboration amongst team member and further helps in overcoming of
problems which are identified by the people. The people have been able to work together
keeping aside their ethnic and regional divides leads in attaining positive results for organisation.
On the contrast, these opportunities are availed by people who possess adequate resources and
are known to categorise on socio-economic grounds (Lange, D. and et.al., 2014). The privacy
and personal space is compromised and there are certain measures required in case of content
screening and filtering so that spreading of personal data could be controlled. It can be
comprehended that technology at present carries numerous benefits for people temporarily but
lacks a better future people who have been relying heavily on advancement.
The major setback of globalisation can be ascertained through its impact on ecological
grounds. The globalisation have been known to carry alarming impact on environment due to
increased usage of resources and rise in carbon emission leading to its depletion. It can be
ascertained that globalisation carries significant impact on lifestyle but in return there is a heavy
price paid and most prominent amongst them is on the environmental grounds. The debates on
the environmentalism have made people aware about the disadvantages which are being catered
by globalisation. The foremost impact which can be identified is the rise in the consumption of
fuel leading to rise in the pollution. Such instances have made it difficult for people to breathe
freely. The indirect effect of the carbon emission can be seen through depletion of the ozone
layer which invites harm UV rays leading to rise in the problems such as skin cancer and other
skin related diseases. In addition to that, unethical practices which are carried out by
multinational organisation by dumping their waste results in the loss of underwater organisation
and ultimately their existence. The soil pollution and encroachment of land is an invitation to the
chronic effects and ultimately question the long term survival of human beings. Therefore it has
become very important to control practices which are carried so that a right balance on the
ecological aspects can be considered. The environment which surrounds stands crucial when
looking to identify survival of human race. The government is required to form suitable policies

and practices so that damage which has been carried out on environment can be mitigated and
ultimately restored. The major benefit which has been availed is by privately owned organisation
who carry influence of power in order to carry out their operations.
It can be concluded that globalisation have been embedded in lifestyle of people. There
are more of negative impact on the environment and societies rather than uplifting their stature.
There is a defined extent to which globalisation is favourable to the people and environment but
crossing that extent will result in the loss of the human being and ecological imbalance. It is
undeniable that globalisation tend to create a positive impact on the economy and technological
aspects which led to the development of the transportation and communication. While availing
the benefits it is essential to consider environment as well that sustainable development could be
practised.

References
Books and journal
Gallhofer, S., Haslam, J. and Kamla, R., 2011. The accountancy profession and the ambiguities
of globalisation in a post-colonial, Middle Eastern and Islamic context: Perceptions of
accountants in Syria. Critical Perspectives on Accounting, 22(4), pp.376-395.
Asongu, S.A. and De Moor, L., 2015. Financial globalisation and financial development in
Africa: assessing marginal, threshold and net effects.
Asongu, S.A., 2017. Assessing marginal, threshold, and net effects of financial globalisation on
financial development in Africa. Journal of Multinational Financial Management, 40,
pp.103-114.
Williams, M., 2011. Civilising Globalisation: Human Rights and the Global Economy By David
Kinley.
Jasic, D., Krajnovic, A. and Cicin-Sain, D., 2013. Geography Courses in the University Studies
of Economics in the Context of Globalization. China-USA Business Review, 12(8).
Lange, D. and et.al., 2014. Ways of Thinking Globalisation–Insights into a Currently Running
Investigation of Students´ Ideas of Globalization. JSSE-Journal of Social Science
Education, 13(3).
Online
The Positive and Negative Impacts of Globalization; Financial and Other Implications, 2012.
[Online]. Available through https://barbarafriedbergpersonalfinance.com/positive-
negative-impacts-of-globalization-financial-other-implications/.
Globalisation and the environment. 2012. [Online]. Available through:
<http://ifsw.org/policies/globalisation-and-the-environment/>.
1