Some praise globalization for opening borders and connecting cultures and politics. Others blame it for disrupting local economies and eliminating jobs. The fact is that globalization has been around since ancient times, and it is fully integrated into different aspects of modern life. As a consumer, your clothing, foods and electronic gadgets are often produced by multinational companies located around the world. And as an investor, a financial advisor could help you diversify your portfolio with emerging market funds and other foreign investments.
This is one of the biggest pros of globalization. It has brought immense enhancement in global trade opportunities. Now, people are not only limited to selling and purchasing goods from the local market. They have huge access to foreign brands, products, and services available to them right within their countries. Not only this, business organizations can export their goods to foreign markets and enjoy access to bigger markets. Further, globalization has also provided people with access to goods at lower prices. For example, Chinese electronics are generally cheaper and China exports them to different countries where people get to buy them at lower prices. This way, developing countries have got the opportunity to export their products to international markets.
globalization essay pros and cons
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In developing countries: To help their people rise from poverty, developing countries need to create employment opportunities for them. Globalization is playing an important role in helping developing countries with this purpose. This is because, with globalization, MNCs have entered the markets in developing countries. They employ labour for construction and hire their employees from the respective developing countries. This way, they create multifarious employment opportunities in developing countries.
This is one of the biggest cons of globalization. It has brought a rise in cases of corruption. According to Henley Business School's research, 85% of the managers have admitted that they had to resort to some bribery when doing business with developing countries in general. Further, after engaging in corruption for once, it gets easier for business organizations to engage in such practices in the future. Thus, we can say that globalization is making corruption spread among different countries.
Easy access to goods and services: Globalization also provides easy access to various goods and services at low cost to many individuals by ensuring imports and exports of goods with greater ease, which also helps reduce the volatility of output and consumption of goods. Consumers also get a wider choice in various goods and services at low prices. Thus, globalization is an important factor that improves easy access to various goods and services at reduced prices. For instance, information from the United Nations Development Program highlights that G20 nations use around 86 % of their resources.
The students of different colleges of the globe get several assignments or case studies on globalization's effects. Many students find it tough to gather the concepts and write them in an assignment form. Therefore, to help such students, an initiative called Assignment help has been taken by Assignment help4me to provide free access to globalisation essays. Besides, the subsequent sample essay shall help the students to frame their own for their next college assignment. Also, it gives an idea of how the assignments should be presented and how they can score high grades in their daily routine assignments.
When discussing the drawbacks and benefits of globalization, essays tend to be on the longer side. The example below is a brief exploration of this complex subject. Learn more in this concise globalization pros and cons essay.
Think about a part of globalization that interests you. What major question do you have about this part of the topic? Trying to answer this question is where you start your research. The answer that you come up with and will support throughout the essay will be your thesis.
Increased globalization has created a large outsourcing market that attracts U.S. companies with the prospect of cheap labor, but in turn, quality industrial production has vastly declined due to lax regulations.
Foreign Affairs contributor, Michael Spence, covers how integrating markets negatively affects U.S. employment rates. While this article is useful for your stance against globalization, it provides a fair assessment of the issue as well. Spence also considers measures that the U.S. could apply to make globalization more sustainable, which is great for compromising with your audience in your argument.
We employ the time-to-event analysis (survival analysis or event history analysis) to examine the role of globalization in the timing of international travel restriction policies. Similar to previous studies [37, 38, 50], we use the marginal risk set model [51] to estimate the expected duration of time (days) until each policy, with increasing strictness, was imposed by each country. Specifically, we model the hazard for implementing screening, quarantine, ban on high-risk regions, and total border closure separately; thus, allowing the possibility that a country may adopt a more restrictive policy early on, as countries are assumed to be simultaneously at risk for all failures (i.e., implementation of any level of policy strictness). Intuitively, as more stringent policies are less likely to be implemented or adopted early (especially if state capacity is high), we stratified the baseline hazards for the four restrictions to allow for differences in policy adoption rate. Yet, when a country adopts a more restrictive travel restriction policy (e.g., total border closure) before (or never) implementing the less restrictive ones (e.g., ban on high-risk regions), the latter is effectively imposed (at least from an outcome perspective). Thus, we code them as failure on the day the more restrictive policy was implemented.Footnote 9 We also stratify countries by the month of the first confirmed COVID-19 case,Footnote 10 as countries with early transmission of coronavirus have fewer other countries from which they can learn how best to respond to the pandemic [52]. This is important because disproportionally more countries with a higher globalization index contracted the virus early (Fig. S2 in the SI Appendix). Additionally, we stratify time observations into before and after pandemic declaration (11 March 2020) [53] as it is likely to significantly increase the likelihood of countries adopting a travel restriction policy (particularly for border closures as seen in Fig. 2) as consensus on the potential severity of the pandemic solidified. Out of all 184 countries in our sample, 3 and 39 did not implement ban on high-risk regions and total border closure, respectively, before the end of the sample period, and are thus (right) censored (Fig. 1); i.e., nothing is observed or known about that subject and event after this particular time of observation.
Notably, the estimates of HRs are larger in magnitude and with higher statistical significance compared to the set in Table 2 for the case of international travel restrictions. This shows that the relative speed of more globalized countries in adopting travel restrictions is slower than domestic NPIs, compared to less globalized countries, suggesting the former takes relatively more time to impose international travel restrictions, where one would expect international travel policies to be adopted relatively earlier. Thus, this may show that globalized countries are more reluctant, at least relative to the implementation of domestic interventions, to impose international restrictions. This is perhaps due to that domestic NPIs are relatively easier to actualize in more globalized countries, as legally binding international travel and trade agreements and regulations and the potential for massive economic losses [23, 33,34,35] would also impede the introduction of international travel restriction policies, relative to domestic NPIs. Secondly, and more importantly, we did not find any statistical evidence suggesting the effect of state capacity varies across countries with different levels of globalization as the interaction effect between KOF and government effectiveness is not significant. This result holds for the alternative measures of state capacity as well as using measures of health system capacity. Finally, we also show that the results of the placebo analysis are not sensitive to the type of domestic policy adopted (see Table S4) nor when different dimensions of globalization were considered, as none of the HRs of their interaction terms is statistically significantly smaller than one.Footnote 24
We find strong positive associations between the globalization index and the number of confirmed COVID-19 cases (and per capita cases) at the time the travel restriction policy was first introduced when we only account for when the country was first exposed to COVID-19. In particular, with a one standard deviation increase in globalization index, the predicted number of COVID-19 cases increases by about 1.9 times when screening (or more strict policies) was first adopted, while cases per capita are 7.7 times higher. The globalization multiplier in COVID-19 cases (or cases per capita) is higher when considering firmer travel restrictions (i.e., adoption of quarantine and banning entry from high-risk regions) except for total lockdown. However, the coefficient estimates for globalization predicting COVID-19 cases at the time of total border closure is likely to be underestimated, as a number of highly globalized countries, such as the USA, Japan, South Korea, and a large group of European countries (with the exception of Germany) did not totally close their borders at any point.
3. Mechanization of ManufacturingWhile not the first thing we think about when considering examples of technical globalization, this is one factor that has an enormous impact on our lives. Using machines for manufacturing lowers labor costs which has two competing effects: downward pressure on labor costs (leading to cheaper goods) and loss of traditional manufacturing jobs. 2ff7e9595c
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