How Economic Globalization Has Fostered Globalization of Critics and Criticism Essay

I. INTRODUCTIONThe model of orbiculateisation is superstar of the most talked virtu every last(predicate)y terms over the past decades. In fact, it is a high-pitchedly popular buzzword that admittedly lacks a standard or comm entirely agreed upon definition. (Trebilcock, 2000). The plan of sparing globalisation stemmed from the floor concept of globalisation and by definition, pertains to that specific attribute of globalisation that refers to the process of integration between the stinting front and the developed, under-developed and development economies (Naik, 2011). stinting globalisation essentially comes together through international portion out, FDIs (foreign direct investments) and the like (Naik, 2011). As stated by Naik (2011), frugal globalization is a process that is all rough the citizens and their welfargon. By standard definition, scotch globalization refers to the so-cal take change magnitude economic interdependence of various countries which whitethorn result from the rise in terms of the faeces of the various goods, services, great and technologies across the international borders (Trebilcock, 2000).Other formers and economic experts define the concept of economic globalization as the globalization of the markets which explains the phenomenon of the global marketplace or the ability of a specific manufacturer that is based from a specific part of the foundation to sell a product or good to the consumers in other parts of the world (Trebilcock, 2000 Naik, 2011). Economic globalization has also enabled the rise of other related concepts such as transnational or multi-national companies/corporations which refer to the companies that be active in numerous countries at the same time (Trebilcock, 2000 Naik, 2011).Because of these characteristics of economic globalization, other notable concepts which include foreign direct investments (FDIs), alliance capitalism, international trade and the like have been attribute d to the concept of economic globalization. In fact, more than mere concepts, these terms have exerted tremendous benefits for the variant people around the world (Naik, 2011 Trebilcock, 2000). However, one cannot totally ignore the fact that some critics recognize the negative effects or consequences of economic globalization as even the very concept of globalization itself may have specific pros and cons. As argued by Naik (2011), bandage there are anumber of advantages in economic globalization, there also exists a number of disadvantages in economic globalization as a phenomenon. umteen critics point out that the countries interdependence with one another serves as one of the biggest issues in economic globalization.They assert that when an economic crisis is being experienced by one hoidenish, this can result into an economic crisis as soundly on the different countries with which a country shares its economic ties (Naik, 2011 Trebilcock, 2000 Harrison, 2007). A place fro m this, there are also many critics who argue that different companies actually exploit labor by investing in production facilities within maturation countries. Because huge multinational companies that come from already developed countries resort to developing countries in order to acquire cheaper labor, critics consider this as alarming because they are only coming to these countries in order to acquire natural resources and more affordable labor which allow for be at their accept advantage (Naik, 2011 Trebilcock, 2000 Harrison, 2007).Aside from this, many critics also argue that economic globalization has already proven to have caused a number of ideological and semipolitical tensions in the different parts of the world and that these will affect to move on and grow further as the so-called economic superpower era comes walking(prenominal) (Naik, 2011 Trebilcock, 2000). Furthermore, the critics argued that the interdependence brought approximately by economic globalization has not really done anything in order to improve the lives of poverty-stricken communities and individuals across Africa and Asia. Apparently, despite the comfortably huge success of economic globalization, a large portion of the population in the world still remained to be in great poverty (Naik, 2011 Trebilcock, 2000). This is just the reason why the critics could not help but compare the unequal effects of economic globalization among the developing and developed countries.In this research paper, we will explore the process as to how the so-called economic globalization phenomenon has fostered a globalization of critics and lit crit. In this research paper, we will tackle the definition of economic globalization and its implications and how it has allegedly brought about and triggered the rise of a number of critics. This research paper will also identify the specific criticisms that critics have previously cited and identified with opine to the economicglobalization phenomen on. The main objective of this research paper is to provide try out as to how the issuance of globalization of critics and criticism was a direct spin-off of economic globalization. Hence, in line with this main objective, this research paper will directly answer the research question How did economic globalization foster globalization of critics and criticism?II. LITERATURE REVIEWA. Economic Globalization Defined.Economic globalization, by strict definition, refers to the phenomenon characterized with an increased interdependence of the different national economies in the economic context of use (Joshi, 2009). This process or phenomenon is also characterized with a swift and steady increase in the movement of various goods, services, technologies as well as capital across borders (Naik, 2011 Trebilcock, 2000). While globalization as a sole context is focused on the rapid developments in the areas of science and technology and economic division of labor, the concept of economic globalization is centered on the growth of information as well as the advancement of science and technology. Thus, economic globalization may be viewed in two different feelings either as a positive or as a negative process or phenomenon (Naik, 2011 Trebilcock, 2000).The economic globalization phenomenon is comprised of a globalization process of various markets, corporations, technologies, industries, production and even competition. Interestingly, the economic globalization process is not at all a new phenomenon as for the past centuries or hundreds of course of instructions, this process has continuously and consistently occurred (Naik, 2011 Trebilcock, 2000). Nevertheless, it was only about two or three decades ago that the concept of economic globalization has been recognized and given importance by economic analysts and experts. It initially appeared as an important part of the General Agreement on Tariffs and Trade (GATT) and the World Trade establishment (WTO) frameworks because of these new economic policies, many countries have managed to cut d ingest their trade barriers as well as liberal up new capital and authoritative accounts (Naik, 2011 Trebilcock, 2000). Indeed, economic globalization phenomenon may be accounted for the increased integration and interdependence of the different countries and their economies, particularly, the integration between developed and less developed economies.Clearly, this economic globalization phenomenon was achieved and was manifested through FDIs (foreign direct investment) as well as the reduction of the so-called trade barriers and the emergence of cross-border migration cases (Naik, 2011 Trebilcock, 2000). The authors Hameed & Nazir (2012) on the other hand have a different view with regard to economic globalization. They saw this phenomenon as having occurred because of the improvements in technology as well as the decrease in transportation cost. Hameed & Nazir (2012) also cited the fact that numerous na tional governments have deliberately chosen to integrate themselves with the global economy which became the ultimate trigger point for economic globalization to emerge. Hameed & Nazir (2012) defined the concept of economic globalization also as the process of removing trade restrictions and barriers such as quotas and tariffs as well as the labor drop movement and capital market liberalization.Because of the removal of all the possible barriers and restrictions, economic globalization has emerged (Hameed & Nazir, 2012). This phenomenon occurred in the past 1980s and 1990s decades wherein major(ip)ity of the developing countries reduced and alleviated their so-called important view ass by bringing tarriff rates down as well as eliminating restrictions on FDIs (foreign direct investment) (Hameed & Nazir, 2012). Furthermore, Hameed & Nazir (2012) had positiveviews with regard to economic globalization citing that this has led towards the attainment of higher productivity and growth as well as a large reduction of poverty in many countries. This assertion is certainly contrary to what many critics deny with economic globalization being the key towards achieving higher productivity and growth.Trebilcock (2000) on the other hand emphasized that focusing likewise more than on the positive sides of economic globalization may not be a good idea as there are different hearty effects to economic globalization which are not only limited to the positive ones. Apparently, there is a statistical evidence which points out that economic globalization causes a significant imbalance of power between thedeveloped and the developing countries which are part of a greater global economy (Hameed & Nazir, 2012 Trebilcock, 2000).B. Criticisms against Economic Globalization check to Shangquan (2000), it is important to recognize the fact that the increased participation of the developing countries in the process of globalization may enable them to best employ their so-called comp arative advantages and be introduced to more advanced methods of technologies, management experience as well as foreign capital. Economic globalization also has undeniably brought developing countries in a much favorable position in terms of eliminating or preventing any form of monopolistic behaviors and also, more importantly, in beef up the market competition (Shangquan, 2000). However, apart from the immense opportunities for increased development that economic globalization has provided among developing countries, economic globalization also poses many significant risks (Shangquan, 2000). Interestingly, these significant economic globalization risks serve as the ultimate basis and evidence of the critics of economic globalization against this phenomenon. These risks serve as the critics proof and basis for their criticisms on economic globalization.One of the prominent criticisms against economic globalization is the widened crack between the mating and the South. Based on the early reports published by the United Nations during the year 1999, this gap between these two parts of the world has widened further as a result of economic globalization (Shangquan, 2000 Trebilcock, 2000). The UNs reports contained facts and evidences that the total number of the developing countries that gained the benefits of economic globalization was only a small percentage (Shangquan, 2000 Trebilcock, 2000). Apparently, this was reflected in the gap or the difference in terms of the income per capita of the poorest and the richest country which has greatly blown-up to about 70 times as a result of the economic globalization (Shangquan, 2000 Trebilcock, 2000).The second top criticism that critics often throw against economic globalization is the fact that many developing countries run the risk of being exposed to external factors in the environment that are unfavorable. Apparently, underthe economic conditions that are open to conflicts, there is an important realization which states that there are immense constraints with regard to the open macroeconomic regulations and policies among developing countries which continue to weaken their macroeconomic regulation and control capacities (Shangquan, 2000 Trebilcock, 2000). In addition to this, the constantinnovation of the different financial instruments also moves further the expansion of the various financial assets of companies in developing countries. Apparently, this has brought about rattling(a) negative impacts on the financial stability and economic safety of majority of companies within developing nations (Shangquan, 2000 Trebilcock, 2000). Aside from the negative economic impacts of economic globalization, other scholars and authors also argue that economic globalization may have vivid negative strong impacts on the surrounding different enculturations of the world in general.According to Held (2004), through the advent of economic globalization, there is a greater chance that the different populations from various cultures will mimic or imitate the labor markets and the international capital flow through the merging of cultures. And certainly within this process, the native peoples exposure to economic measures and foreign measures may cause major assimilations on their lifestyles (Held, 2004). Specifically, based on the numerous researchers who have been studying the main effects of the economic globalization phenomenon among the youth, the different populations in the world will inevitably experience many changes as triggered by economic globalization (Held, 2004). Populations from South the farmings, Arab, Africa, Caribbean and South East Asia will be exposed more on occidental cultures including their language which is English, their music, their computers and technologies, their dating practices, even their gender roles as well as the other nitty-gritty of the Hesperian cultures (Held, 2004). All of these will certainly bring about negative effects especially in the process of preserving their own native cultures. Apparently, based on a recent study conducted, thenegative cultural impacts of economic globalization are inevitable and theassimilation of the native cultures are unescapable in this day and age (Xintian, 2002).Hence, no matter how much a specific culture would protect and preserve its own, the challenges and the changes of todays economic globalization phenomenon will continue to put pressure on the different populations cultures and would ultimately result to the emergence of a totally new assimilated culture which may not be as straightforward and as authentic as the one that the populations originally had (Held, 2004 Xintian, 2002). An author named George Ritzer once wrote about another point of criticism against economic globalization and his emphasis was on the so-called McDonaldization of a specific society as brought about by the economic globalization process (Ritzer, 2010). Ritzer emphasized that the different fas t food businesses that continue to spread all throughout America as well as in the rest of the world will inevitably be forced upon the various world populations.They will be forced to adopt the fast-food cultures which continue to expand its influence across the world and this was make possible by the economic globalization which served as an important and influential force in standardizing the Western culture (Ritzer, 2010). Even in the area or aspect of the media, economic globalization also has somewhat certain negative impacts. For example, according to Nakayma (2005), the global word of honor media companies export their information and deliver them through the Internet, radio and the news. However, in the process, these information are being exposed to Western values and products given that the top North American companies such as Reuters, CNN and BBC are the ones that dominate the global media and news industry.They are far more powerful and influential as compared to the l ikes of Al-Jazeera which may only cater to a smaller number of audiences and may only exert influence on a few people (Nakayma, 2005). This implies that indeed, the amount of influence of America in almost all aspects of living whether it be in culture, news, politics, economics, and the media, are undeniable. This means that in one way or another, the economic globalization may bring about negative effects on the developing countries since they are the ones on receiving end and not on the influencing side (The Economist, 2011 Bertucci & Alberti, 2010 Aisbett, 2007).III. DISCUSSIONGiven the immense number of literatures that point out the advantages, benefits and positive effects of economic globalization, it would be difficult to ascertain and even argue that economic globalization has a negative side to it (Bertucci & Alberti, 2010). Interestingly however, the increasing number of critics that point out the negative effects of economic globalization as a global phenomenon constant ly increased in the past few years which mean that today, more than before there are more evidences with regard to the not-so-advantageous impacts of economic globalization in the world. As previously stated by Naik (2011), one of the negative aspects of economic globalization is that of its ability to weaken a countrys economic situation while it remains to be drug-addicted on other countries. This is such that when an economic crisis is being experienced by one country, this can result into an economic crisis as well on the different countries with which a country shares its economic ties (Naik, 2011 Trebilcock, 2000).Aside from being prone to economic crisis, another criticism against economic globalization is the fact that it causes a significant imbalance of power between the developed and the developing countries which are part of a greater global economy (Hameed & Nazir, 2012 Trebilcock, 2000). This means that the gap between the developed and the developing countries contin ue to increase and widen which in the end, would place the developing countries in a somewhat abused and disadvantaged position. The 3rd important point of criticism of the critics of economic globalization is the fact that the present economic globalization phenomenon places to put on high levels of pressure on the different populations cultures which may ultimately result to the emergence of a totally new assimilated culture that may not be as distinct and as original as the ones they had before (Held, 2004 Xintian, 2002).To put it simply, economic globalization made it quite difficult if not impossible to preserve ones cultural origins and distinct practices and languages as the pervasiveness of the Western influence is too strong which is a manifestation of the many changes that the economic globalization may bring about (Shangquan, 2000 Nakayma, 2005 Lerche III, 2002). Therefore, because of these highlighted points of criticism that are usually beingraised upon by various auth ors who are against the concept of economic globalization, one can contend that indeed economic globalization has fostered a globalization of critics and criticism because of its own negative aspects and influences among the developing countries. Not only does the concept of economic globalization bring about positive consequences in the global dimension, it also inevitably brings about a number ofconsequential disadvantages not only in the economic aspect but also in social, cultural, political and even in the media aspects (Bertucci & Alberti, 2010 Aisbett, 2007).IV. ANALYSIS/ IMPLICATIONSIn answering the question, How did economic globalization foster globalization of critics and criticism? it may be asserted that economic globalization did foster globalization of critics and criticism in a number of ways. Apparently, in the recent years, there have been more evidences concerning the not-so-advantageous impacts of economic globalization in the world and among these include the ca pacity of economic globalization to purposely weaken a countrys economic situation as it remains to be dependent on other countries. Its manifestation is whenever a country experiences economic crisis, it inevitably results into an economic crisis as well on the different countries with which a country shares its economic ties.This means that the so-called interdependence and partnership between developing and developed nations has a negative side to it as when the economic situation of a country fails to normalize, other nations will be affected in a negative way (Naik, 2011 Trebilcock, 2000). Because of this specific disadvantage, many critics consider economic globalization as a risky process and a negative phenomenon as opposed to what many proponents argue (The Economist, 2011 Aisbett, 2007). Aside from the issue on economic crisis, another direct criticism often thrown against economic globalization is the fact that it causes a significant imbalance of powerbetween the develop ed and the developing countries which are part of a greater global economy (Hameed & Nazir, 2012 Trebilcock, 2000). Apparently,this is quite true as observed by many economic experts and analysts who have studied economic globalization as a phenomenon for many years.They have observed that one of the inevitable results of the economic globalization phenomenon is the widened or increased gap between the developed and the developing countries. Apparently, this places the developing countries in a somewhat abused and disadvantaged position as they are the ones on the losing end while the developed countries are on the side of gaining all the benefits to the phenomenon (Hameed & Nazir, 2012 Trebilcock, 2000). And lastly, it may be asserted that economic globalization did foster globalization of critics and criticism because of the fact that economic globalization phenomenon put on high levels of pressure on the different populations cultures ultimately resultd in the emergence of a tota lly new assimilated culture and the developing countries inability to preserve their culture (Held, 2004 Xintian, 2002). Many critics argue that economic globalization made it quite difficult if not impossible for the developing countries to preserve their cultural origins and distinct practices and languages (Shangquan, 2000 Nakayma, 2005 Lerche III, 2002).V. CONCLUSIONIn conclusion, all the three main highlighted points of criticism which always serve as the main entry of critics in going against the concept of economic globalization provide evidence as to why economic globalization did foster a globalization of criticsand criticism. The reality is that indeed economic globalization has fostered a globalization of critics and criticism because of its own negative consequences and influences especially on the part of the developing countries. There is the widened economic gap between the rich (developed) and the poor (developing) countries. Another is that economic globalization ma de it impossible for the developing countries to protect and preserve their cultures. And lastly, economic globalization brought about a number of consequential disadvantages not only in the economic aspect but also in social, cultural, political and even in the media aspects (Bertucci & Alberti, 2010 Aisbett, 2007 Lerche III, 2002 Hameed & Nazir, 2012).Nevertheless, despite the fact that economic globalization has fostered aglobalization of critics and criticism, it does not mean that economic globalization as a phenomenon should be permanently ceased. As in any other global phenomena and processes, economic globalization has its own set of advantages and disadvantages as well as positive and negative impacts to the countries and populations it would influence. For this reason, criticisms are only natural consequences of any other global phenomenon such as economic globalization. Critics are free to critique or display their disapproval for economic globalization as a concept howev er, they must also recognize and acknowledge that this global phenomenon has contributed much to the developments of todays present age (Harrison, 2007).REFERENCES Aisbett, E. (2007). Why are the Critics So Convinced that Globalization is Bad for the Poor? University of Chicago Press. Bertucci, G., & Alberti, A. (2010). Globalization and the Role of the State Challenges and Perspectives. Retrieved from http//unpan1.un.org/intradoc/groups/public/documents/un/unpan006225.pdf Hameed, A., & Nazir, A. (2012). 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