Is globalization good for business and bad for citizens?

Is globalization good for business and bad for citizens

2004

People around the world today feel themselves more connected to each other than ever . Information and money , goods and services flow from different parts of the world more quickly than ever . International communication and travel is more frequent and commonplace . Sometimes this phenomenon is called "globalization

What is globalization and what are the good or bad sides of this one of the most charged issues of the day ? Firstly , this phenomenon needs to be somehow defined . However , for so widely used

term , there does not appear to be any precise or widely-agreed more or less strict definition . One can say that it is an integration of economic , political and cultural systems across the world or it can be a process of Americanization of the world culture and domination of the United States in the world affairs . There is a thought (mostly supported by anti-globalists ) that it can be used as a force for environmental devastation , exploitation of the developing world , and suppression of the human rights . The most common sense of globalization refers to the observation that in recent years a quickly rising share of economic activity in the world takes place between people who live in different countries . Still these questions would receive very different answers from different people - social activists , labor organizers , journalists , academics or agriculture labourers . Thomas Friedman , author of The Lexus and the Olive Tree , wrote "Globalization is not a phenomenon . It is not just some passing trend . Today it is an overarching international system shaping the domestic politics and foreign relations of virtually every country , and we need to understand it as such

It is much more than a synonym for global business , globalization is a free movement of goods , services , labour and capital , thereby creating a single market and full national treatment for foreign investors (and national workers abroad ) so that , economically speaking , there are no foreigners involved . As a growth of cross-border economic activities globalization takes various forms , including international trade foreign direct investment (FDI ) when firms based in one country make investments to establish and run business operations in other countries Capital Market Flows when savers in many developed countries diversify their portfolios to include foreign financial assets (foreign bonds equities , loans , while borrowers increasingly turn to foreign sources of funds , along with domestic ones

Globalization can be compared with fire . If properly used it can be good for both businesses and for the citizens but if used carelessly , just like fire it can destroy lives , towns and even countries . Businesses have to commit to operate in a partners socially responsible way that ensures protection of human rights for employees , communities and other business , also signifying a dedication to sustainable development Looking back at the history of globalization and the affect of businesses on citizens we will find that globalization is not a wholly new phenomena , as far back we can trace human history , people have traded , been on the move , colonized...