Essay On World As A Global Village

The World As A Global Village

The World as a Global Village The term "Global Village" refers to the widening and deepening of the
global system. The International Monetary Fund (IMF) define
globalisation as "The increasing integration of markets both for goods
and services and for capital." The world village also has a hidden
metaphor. It implies a small space in which people live, one where
they know everything about everyone and everything that happens.

It can be argued that there are a total of seven factors contributing
to the globalisation movement. The first element is the breakdown of
the post-War economic order with the oil crisis of 1973-4. This led to
the second point, the liberalisation and deregulation of the financial
institutions in the 1980s and 1990s. Thirdly, the collapse of the
Communist systems of East and Central Europe in the 1990s meant that
there could be greater integration throughout the world. As a result
of the collapse, Germany could be reunited; therefore the economic
power of the West could be integrated with the East. Furthermore the
rise of the "Tiger economies" in Asia and the Far East have made an
impact because it enabled the production of goods for the lowest
possible price. The deepening debt crisis of the Third World has
brought globalisation to the fore.

One aspect of globalisation is the technological changes and advance.
This can be summed up easily by the example of Satellite Television
that beams similar media across the world. It is only a small number
of international organisations that control the stations. So it can
therefore be argued who governs the world when such organisations and
companies have such massive influence. A second element to
globalisation is that of economic flows. This can be split into a
further four groups. First trade, second capital, third finance and
finally labour.

International trade is the buying and selling of goods across national
boundaries. International trade has three forms; Autarky, which
creates complete self-sufficiency; Protectionism, which imposes import
tax and encourages exports; Free Trade, which is free and complete
movement of trade and goods. It does not have to be a solid object; it
can be the sales of services. But it did have a mystery surrounding it
500 years ago, not many things were traded and what was traded were
expensive luxuries i.e. silk and spices. However, it has now lost that
because many things are now coming from the same places, therefore the
world trade and its economy has been drawn closer.

International trade is important because it, at first sight, appears
to be uncontrolled, having companies that are loyal to states. But
there have been attempts to order leadership and discipline, through
three NGOs, the IMF, World...

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It is undoubtedly true that the world today has become a global village. Although this trend has some advantages, I would argue that there are also some disadvantages.

On the one hand, globalization has several of positive sides. Firstly, with the improvement of transportation and telecommunication, including the rise of the internet, business is becoming increasingly international and multinational companies do business across the world; companies like Macdonald’s can be seen on high streets in most cities. Secondly, global economy means free trade between countries. This can strengthen political relationship. Now goods are produced in one country and sold in many countries. Finally, it encourages investment in developing countries and it could reduce poverty in developing countries.

On the other hand, some people would argue that globalization is not always beneficial to everyone. People often have this opinion because it can also lead to unemployment and exploitation. People now have more choices ever than before. Therefore, Companies move to countries like China or India where labor is cheap to compete in the world market. All jobs are going to India or china. As a result, this creates redundancies or job loss. Employees cannot be confident that they have stable job. Some companies exploit their employees in developing countries. Salaries paid to the employees are low and working conditions are often poor. It is often argued that global trade also creates excessive waste and pollution.

In conclusion, it seems to me that the benefits of globalization outweigh the drawbacks.


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