Globalization: Exploring Economic, Social, and Environmental Impacts

This essay delves into the multifaceted concept of globalization, examining its impact on various aspects of the global landscape. It begins by defining globalization as the integration of economies, societies, and cultures through trade, investment, and information technology. The essay then explores both the positive and negative consequences of this phenomenon. Positive impacts include increased trade opportunities, investment in developing nations, improved communication and information sharing, and cultural exchange. However, the essay also highlights the negative effects, such as environmental degradation due to increased consumption and pollution, job insecurity in developed nations, exploitation of labor, threats to local languages and cultures, and the impact on world oil prices. The essay concludes by emphasizing the complex and often contradictory nature of globalization, underscoring the need for a balanced perspective when evaluating its effects.

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Is globalization good for everyone ?
The concept of globalization has been referred as the communication or the integration
between the two individuals, companies, and governing authorities of different economies and is
also a process that is driven by global trade and investments made and these transactions are
aided by information technology (globalization10 2016). The process of globalization has been
considered as liable in stimulating the culture, environment, political system, economic
development and success and well-being of human beings all over the globe. In simple terms,
globalization is the free transportation of goods services and individuals all over the globe in an
integrated and seamlessness manner. The concept can be thought of to be the outcome of the
commencement of a global economy and associated hike in trade between two economies. On
the basis of the research, it has been inferred that the term globalization also means that the
countries liberalize their import protocols for permitting free flow of people and products and
services from nations to nations. Globalization occurs when some of the nations are limited in
terms of their trade and foreign investment and they start trading beyond their boundaries and go
global. And as a result of this, the economies will be able to attain aids such as
interconnectedness and integration of regions of the globe (Beck, 2015). Moreover, liberalization
will be experienced in the number of operations such as enabling the economy in liberalizing the
visa rules and protocols and this will aid in the smooth and free flow of people from a region to
another one. The below-analyzed essay has been made present on the term globalization. The
essay is basically focused on describing both the aspects that are positive and negative aspects of
globalization.

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On the basis of the research executed on the concept, it has been noted down that the term
globalization has been defined as an ongoing procedure that has aided the regional economies,
societies and various cultures in the integration by making use of the globe-spanning network of
communication and trade (Appelbaum and Robinson, 2005). The term globalization is a vast
concept and comprises of the varied range of components that are rapid technology
advancements and aids in enabling the process of global communications, political
advancements that comprise of the fall of collectivism, and transportation advancements will be
enabling and aiding the traveling faster and more recurrent. This all will be resulting in the
development of greater and better opportunities for the business organizations in terms of
opening up of additional markets or widening of market size, also permits a hike in the customer
coordination due to the increase in shared cultural values, and also makes provision of superior
competitive and sustaining position with minimum or a decrease in the operating costs in other
economies will be experienced and also an access over the new and better raw materials,
resources, and investment opportunities. On the basis of the further analysis executed by
Mywestford, (2016) it has been stated that the term globalization has been utilized for describing
the various nations joining for economic, political and educational equality. The countries that
are becoming the members or are coming together have a sense of considering themselves as a
part of the world rather than as a separate economy (Navarro, 2007). The term is considered
liable for stimulating various aspects and the following mentioned are some of the positive
impacts of the same:

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Making adoption of globalization will bring the hike in the development of free trading
opportunities between the trading countries. This will also develop opportunities for the business
corporations from the developed economies to make investments in the organizations that are
from the developing nations (Benería, Berik, and Floro, 2015). As globalization will allow the
countries to make the process of communication in an open form and that will result in the
sharing of information in an easier manner. This concept also contributes to the occurrence of
transportation of goods and services that too with a greater speed. Moreover, emergence of
globalization will also aid in broadening of mind and will develop a sense and a feel that
everyone belong to one world and also a part of one nation. Contacts with the foreign people will
make the individuals familiar with their customs, manners and habits and this will enhance the
richness of the cultures as they will are coming in contact with the other cultures. Globalization
also assists in shaking off the narrowness. A comparison will be made between the two countries
and thus will be enriching the habits, customs and manners. Flight in the level of literacy and
promotes education and this has been considered as a great contribution in the economic
development of a nation.

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The other side of globalization
As mentioned in the given scenario, the focus is required to concentrate on the negative
aspects of globalization. The term has numerous impacts on the various aspects and the same are
as followed (Snarr and Snarr, 2016). One of the biggest aspects that get largely affected by
globalization is an environment. On the basis of the research executed by Srivastav, P, (2016),
and it has been pointed out that due to globalization there has been an increase the consumption
of products and this is impacting the ecological process. The increasing level of consumption of
products will lend to bring an increase in the production of goods and that is building pressure on
the environment. Another negative effect of this concept on the environment is the increasing
level of pollution. The amount fuel consumed and burnt in transporting the products is one of the
biggest reason due to which there is a hike in the level of pollution. There is number of other
such environmental concerns that are rising due to the noise pollution and degradation of land.
Transportation is also straining the non-renewable resources such as gasoline, petrol, and diesel.
The ozone layer is also getting depleted due to the pollution created by the transportation
activities (Baars et al., 2016). The gases released from the transporting vehicles, the noise created
by the aircraft and this is also increasing the greenhouse effect. The industrial waste and
pollutants generated as the result of the operations and manufacturing processes which is carried
and laden through the ships and is dumped in the oceans. Due to this lives of the number of sea
organiza.ms and animals threatened. Due to the process of industrialization and globalization, the
number of wastes and pollutants are thrown in the land that gets mixed with the soil and
decreases the quality of land which causes soil degradation (Claessens and Van Horen, 2014).
This has resulted in the growth of various forms of noxious weeds and plants. Moreover, these
toxic weeds and plants create interference in the genetic make-up of the plants and damage them.

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Another significant aspect that is getting impacted largely by the concept of globalization
is the business environment or the corporate world. There are various impacts or the different
integral characters or elements of the business environment. Job insecurity is one of the
empirical aspects that is risen due to globalization. There is a high level of job insecurity in
developed nations (Cavusgil et al., 2014). The developed economies are more into outsourcing
the manufacturing and white collar jobs and due to which there are fewer job opportunities for
the individuals. And this is because the manufacturing and production of goods are operated in
the nations that are having low operating and labor costs. Globalization also leads to exploitation
of labor and also the safety standards are also ignored for producing cheaper goods. Further, the
concept of globalization has also risen as a challenge for cultural and local languages. On the
basis of the research and study, it has been analyzed that half of the local languages are
disappearing day by day and also an estimate is made that there will be an increase in the speed
of disappearing. And this will lead to apathetically to relegating various local cultures (Wheelen
et al., 2017). The scientific and economic superiority of the United States and flow of IT is
aiding in the assistance of the imposing certain languages. For instance, English has been
imposed as the second language in some of the developing and developed nations and as a first
language in others. Three is no doubt that the languages significantly affect and stimulate the
cultures and therefore the dominance created by English can initiate the generation of
international and intercontinental culture and that may wipe out the existence of customs,
traditions, and values of societies.

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Globalization has some integral impacts on local entities (Baylis, Smith and Owens,
2017). Its intricacy takes conclusive extents in particular with regards to its effects on labor
colonization from the south to the north. In the number of scenarios this issue not only has
radical replications and but also on social aspects (Crane and Matten, 2016). The concept also
has some serious effects on the developing economies. Although developing nations are making
contributions in a way or another to this process yet they are unable in yielding the benefits of
the contribution made. There is number of processes that are impacting and destroying the lives
of societies. The reckless behavior of some of the multinational enterprises towards the
environment of the concerned countries or more dangerously products that are out of date or are
marketing expired and other illegal goods are some of the examples of this type of destruction
and the root cause of which is globalization. One of the most empirical impacts that has raised
due to the concept of globalization is the hike in the level of world oil prices and this has been
presented after the analysis executed by Tverberg, G, (2013). The author has observed and stated
that the world has experienced two oil price points For instance; the first one was the 1973 to
1983 period, occurred after the oil supply of US began to diminish in 1970. After, the period of
1983, it was found that the prices of oil can be brought back to $30 to $40 per barrel in
comparison to the $20 barrel price available prior to 1970 (Tverberg 2013). This process was
partly done by ramping up oil manufacturing in the regions of Alaska, North Sea, and Mexico
and partly by bringing a decline in the consumption. The decline in the consumption was attained
by cutting back oil use for electricity and by motivating the utilization of more fuel-efficient
vehicles. On the basis of the current survey, it has been noted down that there is a rise in the oil
prices since 2005, globe has a high oil price back, but there is a much worse problem that is
faced currently. The root cause due to which the problem is worse is a slow growth in the supply
of the oil or the supply of oil is not increasing due to the demand exploding and this all is due to
globalization. After analyzing the graph of world oil supply, it has been found to be virtually flat.
Canada and the United States are together are contributing to the increase in the rise of the
supply of the world oil since 2005.

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After summing up the above-executed analysis it has been concluded that globalization is
one of the integral concepts that has been observed stimulating a number of aspects all over the
globe. These influences have two faceted effects that are positive and negative. As per the given
scenario, it has the focus has been concentrated on the negative impacts of globalization all over
the globe.

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