An Important Role of Globalization
Recently, globalization has played an important role in the national market economy of each country. It not only enhances economic integration, but it also motivates trade liberalization. However, there still exist many debates regarding the “side effects” of globalization toward the development of any country. Therefore, globalization is a controversial issue that always receives significant attention from the government around the world.
Firstly, according to Chernotsky & Hobbs (2018), globalization is defined as a political, economic and cultural exchange among nations to enhance the trade and financial relationships that develop integrated communication networks. As the global market becomes available for all countries, it creates a competitive environment among suppliers because they need to compete to produce high-quality products with lower operating costs to meet the demand of buyers. This triggers the purchasing power which increases the trade flow and fosters global economic growth. However, the more humans increase the consumption of products, the more they put stress on the environment. It forces industries and manufactures to exploit the natural resources to obtain component materials for the production process. Consequently, all earth’s natural resources not only become exhausted rapidly, but ecosystems are also destroyed and polluted. In general, globalization accidentally stimulates suppliers to overexploit the natural assets to meet global demand. According to Pettinger (2017), globalization increases the economies of scale because parts of a product can be produced in different countries to lower average costs and lower prices for consumers. For instance, most component parts inside an iPhone are assembled in China where labor costs are cheap; therefore, most of the devices are made in China to offer global customers an affordable price. However, this benefit raises an ethical issue that those bosses can take advantage of globalization to abuse human labor and force their employees to overwork for cheap wages. Consequently, employees tend to move to other countries for higher salaries and better workforce environments which might be a burden on housing and social services in those countries. On the other hand, the contribution of globalization in education is significant. According to Gupta (2017), “Global education interconnects methods of teaching from worldwide systems to encourage the international development of environmental sustainability, as well as contribution toward fortifying global industries.” This creates a chance for students in undeveloped and developing countries to access high-quality international education, apply advanced technology and science in daily life, and understand the cultural diversity across the countries. They will become the next generation that helps their countries free themselves from poverty, backwardness, and ignorance. Globalization enriches students with new knowledge and practical skills to improve the world.
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Globalization has become a controversial topic for people to debate. We have to admit that globalization brings many benefits in the long-run for labor markets, economic growth, international education, and multicultural diversity, but at the same time, there still exists some negative impacts. Personally, I believe that we should continue developing globalization for positive outcomes, while the government of each nation needs to strictly control international trade law and natural resource policies.