Globalization: Double Edged Sword?
Globalization is the process of integration of economic, cultural, political, and social systems across geographical boundaries throughout the world. In the modern era, globalization is here to stay, driven by advances in information technology and resulting in scientific, technological, and economic progress, and increased international trade and investment. It has had wide-ranging positive and negative effects on employment and economic development, scientific research, language and culture, and the environment.
Looking at the optimist aspect of globalization, one positive result of it is the global distribution of employment and its skills. It is now much easier to move to other countries to find work, and consequently, this leads to better employment prospects for individuals and to more diverse workplaces. For example, US issues H-1B visa to most skilled professionals i.e. scientists and engineers who comes and work at US of many projects. In addition, capital and industrial resources have migrated to developing countries, thus providing local jobs and boosting local economies. It has also resulted in greater contact between different cultures, as travel has become relatively safer and less expensive than it used to be. Ease of communication has encourages an unprecedented level of global scientific research and cooperation, and a subsequent explosion of knowledge and information. Hence we can sum up advantages as –
- Competitive Markets
- Growing Economies of developing countries
- Better Future to skilled manpower
- Better Products and services
- Cultural and heritage exchange
- Dark Sides of Globalization
COVID-19 has shown us the darkest side of increasing Globalization. One virus which was started at a local market of China has already infected more than 10 million persons and had caused to deaths of more than 5,00,000 persons across the world. It shows that when a virus emerges in one region of the world, it spreads rapidly, threatening worldwide health. To elucidate it, it can apparently be demonstrated that COVID-19 virus is spreading nowadays to many countries and giving travel alerts for people traveling to regions and certain countries where COIV-19 virus transmission is ongoing. A downside of the global economy is that when a catastrophe occurs, as in the recent global financial crisis that started in the United States of America, it affects the whole world.
Globalization affects culture and language, too; minority languages are dying out because of the necessity of learning internationally recognized language English for carrying on international business and Multi-National Corporations effectively and efficiently. As a consequence, indigenous culture, languages, and dialects are being rejected in favor of dominant language and culture, often west counties based. Finally, levels of pollution are rising as countries strive for economic growth and a competitive edge in the global market, resulting in rapid industrialization.
In conclusion, globalization is a double-edged sword that has created jobs and promoted international cooperation but has led to cultural losses, more environmental damage, increased health risks, and exposure to economic crises. However, our world will continue to shrink as technology expands, and we need to accept globalization as positive as well as negative development as a fact of life in the 21st century.
Dr. Sandeep Kautish