Globalization as understood and explained by corporations Essay

Globalization as understood and explained by corporations - Essay Example This research will begin with the definition of globalization as a global or universal phenomenon of political, economic, cultural and technological exchanges that come up as a result of contemporary communication, legal infrastructure and political willingness to open links across borders to enable international finance and trade. In general terms, it is a term that stands for the close ties between people and states of the world culturally, economically and politically. On the other hand, antiglobolization is a term used to refer to the critics of globalization in ideological aspects. They argue that globalization is a concept invented to favor the elite. In their views factors such as global migration from one country to another have led to increased security lapses. They have also attributed globalization to environmental degradation which has resulted to the sprouting of slums in developing states. According to globalization school of thought critics, globalization has resulted to uneven distribution of the wealthy which in turn has led to selective economic booms globally which is the main cause of informal settlements. To counter One another’s assertions in regard to the merits and demerits of globalization, both the critics and the proponents have fronted several arguments in relation to the economic, political and social aspects of globalization. Aspects of the economy that are majorly associated with globalization include investment, trade, and migration.... They assert that by countries accepting to get into foreign and regional financial schemes, they automatically lose their financial sovereignty and in turn embraces foreign policies may be contrary to the unique needs of its citizens. The other view is that multinational corporations may acquire excessive power in a particular country which may in return compromise the needs of the citizens in general. Proponents perceive that, globalization has played a key role especially in political sphere an argument which has received major backing from globalization nationalists. For example, they have a uniting factor in the view that International institutions such as World Trade Organization have positively influenced political ties among member states. Dividing the two sides in the middle is the issue and the role of technology in globalization. Proponents have identified with the remarkable positive contributions predisposed by technology such as faster access to information and more jobs created such us the online jobs. On the flip side, critics have expressed deep reservations on the security lapses that technology has exposed most countries to as a result of technology .They have also expressed concerns on global moral decadence that has been wide spread as a result of globalization through technology. 2. What explains the very different effects that globalization and world economic recession have had on U.S. households as compared to the effects that globalization and world economic recession have had on individual European households? Currently, America is facing serious economic challenges and possibly the worst recession of all times. Though recession hit almost all parts of the world, the United States is yet to dust itself of from the