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| (Walker 2006, 'Globalisation') |
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| (ProProfs 2012, 'Globalisation Tree') |
Globalisation, by its very nature affects each and every human on the planet. In order to discuss the three interwoven sides of Globalisation, an understanding of the term itself must first be addressed. Globalisation is generally referred to as ‘the process by which the world is becoming increasingly interconnected as a result of massively increased trade and cultural exchange’ (BBC 2012, ¶2). The good side of Globalisation is that humans are connected to each other like never before, providing a greater audience for an exchange of knowledge, ideas and technology (Economics Online n.d., ¶11). The interconnectedness of countries also ‘enables worldwide access to sources of cheap raw materials’ which reduces the cost of production and consumer goods, providing an opportunity for a lower cost of living (Economics Online n.d., ¶9). However the purported ‘good’ side can also be seen as the bad side of Globalisation. Although Globalisation allows for a greater availability of cheap consumer goods, in the long term, this promotes an increase in importations which in turn may lead to unemployment as local manufacturing companies cannot compete with the low wages from the exporting countries (Riley 2006, ¶2). This reduction in employment feeds into the final and ugly side of Globalisation as it only increases the gap between the haves and have nots, which appears at odds with the fundamentals of Globalisation as being a notion of connectivity and equal opportunities for everyone the world over (De Blij 2009, p.256). The disparity Globalisation creates is summed up by Canadian developmental economist Gerald Helleiner (cited in World Bank and The IMF n.d.), ‘The poor complain, they always do, but that’s just idle chatter. Our system brings rewards to all, at least to all who matter.’
BBC 2012, Globalisation, http://www.bbc.co.uk/schools/gcsebitesize/geography/globalisation/globalisation_rev1.shtml, [Accessed 1 November 2012]
De Blij, H 2009, The Power Of Place: Geography, Destiny And Globalization’s Rough Landscape, Oxford University Press, New York
Economics Online n.d., Globalisation, http://economicsonline.co.uk/Global_economics/Globalisation_introduction.html, [Accessed 1 November 2012]
Riley, G 2006, Globalisation: Opportunities And Threats, http://www.tutor2u.net/economics/revision-notes/a2-macro-globalisation-effects.html, [Accessed 1 November 2012]
World Bank and The IMF n.d., http://fightslaverynow.org/why-fight-there-are-27-million-reasons/economics-and-human-trafficking/world-bank-and-the-imf/, [Accessed 1 November 2012]
Images
Walker, A 2006, ‘Globalisation’, photograph, http://asiapacific.anu.edu.au/newmandala/2006/07/19/on-the-front-line-of-globalisation/, [Accessed 1 November 2012]
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