Free-D

It is for sure that there are many opinions regarding Globalization, whether positive or negative the question yet stays as how are we all affected by it. As the latest survey shows majority of the younger generations are entirely convinced that the global economic and cultural phenomenon is the solution to many of the world’s problems and the only way to overcome poverty and improve underdeveloped countries and nations by introducing them to the new global and unified economy.

Although, many believe that the term came to being since 1960s, others strongly argue, saying it has always existed since the starting of Silk Route from China to the boundaries of the Parthian empire and then continued onwards towards Rome. In the 17th century, globalization became a business phenomenon when the British East India Company, which is often described as the first multinational corporation, was established. Because of the large investment and financing needs and the high risks involved with international trade, the British East India Company became the first company in the world to share risk and enable joint ownership of companies through the issuance of shares of stock: an important driver for globalization.

If global economy today, was to be defined as a force for economic growth, prosperity, and democratic freedom, then what about the environmental devastation, exploitation of the developing world, and suppression of human rights? For it can and has empowered the giants of industry to take over the economy all over the world and in case of stagnation, if needed to create new markets, new understandably righteous wars are waged. For instance, instead of stabilizing Iraq’s economical and social status, new ATM machines are installed all over Baghdad and the “modern” banking is introduced to a nation that is suffering from six-year war and economical limbo. With out any doubt, in few years time Iraqies will indefinitely be enslaved by international banks and like their European and American siblings in debt forever.

Modern communications

So how does the globalized market work? It is modern communications that make it possible; for the British service sector to deal with its customers through a call centre in India, or for a sportswear manufacturer to design its products in Europe, make them in south-east Asia and sell them in north America. If these practices replace domestic economic life with an economy that is heavily influenced or controlled from overseas, then the creation of a globalized economic model and the process of globalization can also be seen as a surrender of power to the corporations, or a means of keeping poorer nations in their place.

Low-paid sweatshop workers, GM seed pressed on developing world farmers and the increasing dominance of US and European corporate culture across the globe have come to symbolise globalization for some of its critics.

As the population of the world keeps on increasing the multinational corporations with the help of new technology reduce work-power by introducing efficient machinery resulting in more and more job losses around the world. Local businesses fall prey to the Big Fish as the global free trade moves next-door in our neighbourhoods. Yet, we all must be proud of our Globalized society and thanks to “political correctness” we all must zip our mouths shut and keep our cultural differences and in some cases hatred enclosed in our brains.