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Opposing Viewpoints: Globalization – Benefits of a connected world

By Connie Gong
Published: June 2010

Through the integration of international economies, societies and cultures, globalization has made the world more connected. Driven by economic, technological and political factors, the globalization of our world has huge positive ramifications for us all.

In an economic context, globalization has led to the reduction and removal of barriers between countries’ borders, facilitating more free trade. The creation of this free trade zone with minimal or no tariffs, results in reduction of transportation costs, reduction of capital controls, subsidies of global corporations, and universal recognition of intellectual property laws.

The emergence of a global market has given countries more options when it comes to buying and selling goods. People are able to choose from products from many different nations, and competition among global markets spurs competition in cost, keeping inflation and prices down. The flexibility of corporations to operate across borders increases, allowing the rise of multinational corporations.

These lowered trade barriers are extremely beneficial for less developed nations. Not only are huge international markets opened to them, but the lower cost of production in these countries allows them an advantage when competing in the global market. The cash flow into developing countries decreases dollar differences around the world, improving the standard of living in these countries. Furthermore, as liquidity of capital increases, developed countries are able to invest in developing ones.

A global market also increases the exchange of ideas. An open economy spurs fresh ideas and innovation in a way that increases the quality and quantity of goods and services. Growth easily spreads between regions as trades burden, effectively creating a domino chain in which neighboring economies prosper as they grow dependent on each others’ support. Productivity also increases as countries are able to increase their comparative advantages and specialize to produce goods and services more efficiently.

Economic benefit, the most tangible advantage, leads to many more social and cultural benefits. The interdependence of the world economy reduces the likelihood of hostility and war; countries are less likely to attack or antagonize each other if they have established friendly trade relations, or depend on each others’ economic success.

A gradual world power is being created, as many of the most important political decisions today must be approved by multiple countries.

Soon, no country will be the sole power head and global decisions will be weighed in on by all countries, ensuring that decisions regarding the future of our world will have input from everyone living in it.

Intermingling of cultural preferences is another advantage. Many countries are being exposed to the more liberal Western culture, leading to benefits as the ideas of democracy and social equality spread. Western societies are also benefiting from exposure to foreign ideas, creating a more diverse and accepting society.

The standardization of cultural identity creates shared cultural values, allowing people from all over the world to have a better understanding of each other. This helps promote peace and harmony among different cultures and ethnicities.

This process, known as homogenization, has created somewhat of a multicultural identity. Trans-border data flow such as communication satellites, the internet and wireless telephones allow popular culture and entertainment to become widely available to anyone, anywhere.

Copyright laws, patents and trade agreements can be extended globally, as well as international enforcement and criminal systems.

Cooperation among many nations allows countries to address global environmental problems such as cross-boundary pollution, over fishing inoceans, and the issue of climate change. The input of countries throughout the world is necessary to address global problems.

Through technology, cultural exchange, and the economy, the world is being made into a much smaller place, not in terms of size, but in terms of cohesion. The development of a global hegemony can only be a benefit for us, bringing people of all different creeds together under the single banner of humanity.

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