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GLOBALIZATION (POLS 219) PART B: LONG ANSWER (10 marks) Instructions: Using specific details drawn from readings...

GLOBALIZATION (POLS 219)

PART B: LONG ANSWER

Instructions: Using specific details drawn from readings and lectures, craft a response to the following question. Your answer should be about 400 – 500 words in length and is worth 10 marks. While you are not required to use formal essay structure, you are expected to use proper sentence and paragraph format (i.e. no listing or point-form). Be sure to read carefully and answer all parts of the question for full marks.

MUST BE IN YOURS WORDS. **NO PLAGIARISM**.

Question:

Given everything we have discussed during the course of this semester, in your view, what is the most pressing challenge facing the global community today? Can we successfully meet this challenge moving forward? Why or why not?

In your response, be sure to describe the challenge you have chosen and explain why this problem is global in scope. Consider what efforts have been made to address this challenge and identify any barriers that exist to successfully addressing this challenge as a global community. Conclude by identifying possible strategies for overcoming these barriers and addressing this challenge as a global community.

(400-500 words)

Solutions

Expert Solution

Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. ... Likewise, for centuries, people and corporations have invested in enterprises in other countries.

In simple words, globalization means the spreading of a business, culture, or any technology on an international level. ... For instance, it needs the other countries to come to a mutual agreement in terms of political, cultural, and economic policies.

Globalization is about the interconnectedness of people and businesses across the world that eventually leads to global cultural, political and economic integration. ... Due to the increased demand in the high tech industry around the world, business and industry have potential for huge profits working globally.

Large-scale globalization began in the 1820s. In the late 19th century and early 20th century, the connectivity of the world's economies and cultures grew very quickly. The term globalization is recent, only establishing its current meaning in the 1970s.

The aim of globalization is to secure socio- economic integration and development of all the people of the world through a free flow of goods, services, information, knowledge and people across all boundaries.

There are mainly three types of globalization:

· Political globalization.

· Social globalization. ...

· Economic globalization.

Factors leads to Globalization

Containerization. The costs of ocean shipping have come down, due to containerization, bulk shipping, and other efficiencies. ...

· Technological change. ...

· Economies of scale. ...

· Differences in tax systems. ...

· Less protectionism. ...

· Growth Strategies of Transnational and Multinational Companies.

Phases of Globalization

  • In Phase 1, consumption and production take place together because the “hunter-gather” lifestyle meant consumption moving to “production” (i.e. food sources).
  • In Phase 2, consumption and production remained together but it was because people “brought” the food to themselves by developing agriculture.
  • Phase 3 was when modern globalization started in the 19th century. Steam ships and railroads (and world peace called Pax Britannica) made it economical to consume goods that were made faraway. With things being made in one country and consumed in another, trade boomed.
  • Phase 4, the one we are in today – started when production itself got broken up and shifted around to different nations. This is known as off shoring and it radically transformed world trade and manufacturing.

Features of Globalization.

1. Liberalization

2. Free trade

3. Globalization of Economic Activity

4. Liberalization of Import-Export System

5. Privatization

6. Increased Collaborations

7. Economic Reforms

8. Several dimensions of Globalization

Advantages of Globalization

1. Globalization allows us to pool all our resources together.

2. Globalization would also reduce labor exploitation issues.

3. Globalization reduces the prospects of tyranny.

4. Globalization improves communication access.

5. Globalization would remove tax havens for wealthy individuals and businesses.

6. Globalization would help the developing world progress faster.

7. Globalization would reduce currency manipulation problems.

8. Globalization encourages free trade.

9. Globalization could create more employment opportunities

Disadvantages of Globalization

1. Globalization may encourage more offshoring instead of less.

2. Globalization benefits the wealthy more than the poor.

3. Globalization would encourage disease transfer.

4. Globalization could reduce social safety net programs.

5. Globalization would create a new system of politics.

6. Globalization would not prevent resource consumption.   

7. Globalization would make it easier for people to cheat.

8. Globalization doesn’t fix a lack of skills.

9. Globalization changes how humans would identify themselves.

10. Globalization would negatively impact the environment

Globalization refers to several different concepts all rolled into one package. It may refer to the ease in which businesses conduct operations in different countries other than their own. Some look at this subject as a way to create a world without national borders. There are concepts of communication, information access, and technology development to consider when looking at this subject matter too.

Even though the geographic size of our planet remains consistent, how we interact with each other is changing by the minute. Despite more than 200 countries independently working for their best interests, we all come together in ways to make the world a better place. If you have access to a computer or mobile device with data or an ISP, then you can communicate with anyone else in the world with the same setup.

Challenges Faced by Global Community Today

1. Growing Income Inequality

People have an age-old tendency to compare themselves to their neighbors, especially when it comes to wealth. We are less concerned about our absolute level of wealth, but look more at what we have and own in relative terms to the people around us. Global private wealth reached a record $166.5 trillion in 2016; an increase of 5.3% over the previous year, according to a report by the Boston Consulting Group (BCG).1 in 2015, the increase was 4.4%. Faster economic growth and stock price performance mainly drove the rapid increase.

But this growth is not spread equally. Private wealth in Asia-Pacific is likely to surpass that of Western Europe by as early as the end of this year, BCG’s analysis shows. This could be an economic shock for many citizens of traditional western powerhouses. Such changes need to be watched and managed carefully as they tilt economic and political power. British geographer and politician Sir Helford Mackinder used to say: “Unequal growth among nations tends to produce a hegemonic world war about every 100 years.” We can only hope he is worn

Many simple inequalities can be solved by adding, subtracting, multiplying or dividing both sides until you are left with the variable on its own. But these things will change direction of the inequality: Multiplying or dividing both sides by a negative number. Swapping left and right hand sides.

1. Increase the minimum wage. ...

2. Expand the Earned Income Tax. ...

3. Build assets for working families. ...

4. Invest in education. ...

5. Make the tax code more progressive. ...

6. End residential segregation.

2. Technology Driving Change in Jobs

How disruptive will the effect of globalization and technological advances be on labor markets? That is a key question today. Over the last three decades, advanced economies have seen labor-intensive sector jobs move to emerging markets. In other cases, new technologies have made certain occupations obsolete. UNCTAD (United Nations Conference on Trade and Development) released a policy brief last year that said robots could take away two-thirds of jobs in developing countries.

We see some of these shifts already. Today’s five largest global companies are: Apple, Alphabet (Google), and Microsoft, Amazon, and Face book. They employ around 720,000 people. A decade ago, the big five were completely different: Petro china, Exxon Mobile, General Electric, China Mobile, and Bank of China. They employed around 1.3 million people. What a decade can do! Today’s five biggest companies are all technology companies. Their market capitalization is 30% higher than that of the top five a decade ago; they achieve that with a whopping 44% less staff (figure 2). This has a large impact on labor markets and jobs.

Here are changes digital is bringing to today's job roles: 1) You will need new skills, and will be exposed to opportunities for new skills. Digital technologies demand a range of skills, from cloud architecture to social media. Many occupations, such as scientists, now require some level of programming skills

3. Rising Protectionism

G20 countries have become more protectionists. The total number of discriminatory protectionist measures implemented by G20 countries has increased over the past five years (figure 3). The main driver has been the U.S. According to the Global Trade Alert report, had the United States been excluded, the total number of protectionist policy instruments imposed by the G20 would have been lower in 2017 than in 2016. The U.S. has implemented the most protectionist and trade restrictive measures of its peer group, the European Union the least (figure 4). This sounds counter-intuitive for the country that prides itself as an open economy, but it seems that it is Europe that is championing trade barrier reductions and the avoidance of protectionist measures.

The rise in protectionism implies that a progressively larger share of global trade has been affected by trade distortions. Data from the Global Trade Alert database show that by 2017 more than 50% of exports from G20 countries was subject to harmful trade measures, up from 20% in 2009In the long term, trade protectionism weakens the industry. Without competition, companies within the industry have no need to innovate. Eventually, the domestic product will decline in quality and be more expensive than what foreign competitors produce. Increasing U.S. protectionism will further slow economic growth A key effect of trade protectionism is that consumers will have a limited choice of products and goods since there may be quotas on how much may be imported. ... Domestic firms may also be hurt financially since they may have to purchase parts to make their products and then pass the increased cost on to the consumer..

4.  Increasing Migration

The recent refugee crisis in Syria and the resulting arrival of more than one million migrants in 2015-2016 in Germany presented a formidable challenge to political and social stability. In addition to tougher checks on the EU’s external borders, and a controversial refugee pact with Turkey, the EU is investing more in the migrants’ countries of origin. The refugees from Syria have been fleeing a brutal civil war. They are escaping violence, as many also are from Iraq and Afghanistan, and, in such cases, humanitarian reasons should always prevail over other considerations. Wars, climate change, and broader economic and social inequalities are the root causes of migration flows. While these increases in migration are all easy to understand, they nonetheless cause issues in the countries of arrival: integration problems, absorption limits and skills-mismatches.

Migration is often associated with poverty, but other factors also drive the phenomenon, including youth unemployment, climate change and urbanization. Employment-seeking migration accounts for the biggest share of intraregional mobility as youth migrate from one country to another looking for better job opportunities. In the terms of economic theory, this means that trade and migration are substitutes – countries with relatively cheaper labor can export labor-intensive goods or workers. Over time, differences in the prices of goods and the wages of workers should be reduced with freer trade, reducing emigration pressures.

1. Base it on evidence. ...

2. Adopt a participatory approach. ...

3. Interact with the target audience. ...

4. Take advantage of digital media. ...

5. Do not neglect in-person activities.

5. Growing Influence of Social Media and the Post-truth World

Social media pose the final major challenge to international organizations. According to a recent analysis by the Reuters Institute for the Study of Journalism, 51% of people with online access use social media as a news source. Social media is the primary source for news for 44% of smartphone users in the U.S. and 38% in the U.K. (figure 7). Coupled with the proliferation of so-called fake news, which became so prominent in last year’s U.S. elections, as well as social media’s favoring of ever shorter and catchier messages, it is no wonder that many observers are saying we are living in a post-truth world.

The global vision that has brought improved travel and trade and increased interdependency among countries also calls for a common vision of health around the world. All countries are vulnerable to the ever-present threats of infectious disease, outbreaks, and epidemics. At the same time, there are opportunities for shared innovation and universal purpose as many countries that suffer from similar disease burdens strive to develop best practices and strong health systems for their citizens. The leadership of the Centre has done an outstanding job of restoring organizational cohesion, morale and stability after a period of internal turmoil and uncertainty. The Director General, Board of Trustees, the Senior Management Team and the entire staff deserve credit for this turnaround and for working together to steadily expand and strengthen the Centre's output, productivity and impact. IFPRI now has effective governance. The initiative under way for further organizational strengthening is a step in the right direction.


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