Globalization/Global Capitalism

Globalization is said to be a historical process across international periphery as a result of human being 's continuous innovation and technological development . It usually involves the concept of free trade and free market wherein economic integration is evident for the easy if not efficient access to countries ' economic activities

As such , to continuously cope up with the increasing demand for trade and financial flows , countries which adhere to this kind of system give high regard to competition , division of labor or to specialization which allows people , countries or economies to focus

on what they do best . As a consequent of globalization , concepts or policies such as trade liberalization or privatization is also promoted . Together with the thrust to globalize the world is to recognize and observe trade liberalization and privatization . It can be deduced then the globalization and capitalism goes hand in hand - the former being considered as the economic system most appropriate to peddle globalization

Ong (2003 ) stated that flexible transnational economies have depended on globalizing process of production and labour markets as well as on their localization in particular sites of capital accumulation and growth . In this regard , state 's adherence to a liberal economy shapes the objective economic and social reality that is divergent from the state apparatus with its multiple regulatory bodies . It creates an ethos that would allow no obstruction to market forces which has spread erratically across the world . It has then directly affected the meaning and practice of citizenship as market standards come to shape these multiple regulatory processes

In this regard , there are various corporations which continuously promote globalization which also possesses auxiliary role as voices of capital markets in relation to stock and bond markets . An example of such is the Wall Street investment bank in America wherein they serve as the financial expert in the corporate America and world 's stock market which earned them the title as the oil that greases the wheels of capitalism . According to Ho (2005 , in the past two decades , Wall Street investment bank has amplified its influence and spread the practice of shareholder value to the corporations and markets of many countries around the world , occupying multiple roles and sites

All these then lead to the acquisition of accumulated capital for countries which dominate the world trade . Along with this contention are the many issues associated with globalization which eventually concern the people . One of the most prevalent concerns associated with globalization is the supposition that it increases poverty and inequality . As such , it further widens the gap between the rich and poor . Also , it paves way to the exploitation of natural resources of the developing countries by the developed countries wherein the latter which have the means to explore , utilize and develop these natural resources take advantage of those which does not have - in this case the developing countries

Paradoxically , together with the thrust to globalize the world market is the continuous movement to extend global concepts which seemingly do not complement...