Globalisation Essay Example | Topics and Well Written Essays - 1500 words - 4

Globalisation - Essay Example Lee & Tai (2006) too agree that liberal trade policies, incentives, growing foreign direct investment (FDI), advancement in information technology and communication have all stimulated the process of globalization. The major drivers of globalization according to Singer (2004) include social-demographic (regional, cultural), technological, which includes telecommunications, internet and transportation, economic factors like foreign direct investment, profit motives and market share, ecological and environmental factors like pollution and green laws, and political-legal factors like falling trade barriers, political stability and intellectual property. There is a connection between poverty and globalization and it is generally believed that without globalization inequality would have increased. Free trade would make the world prosperous and assist the poorer nations in coming up. Technological upgradation takes place in developing nations but evidence also suggests that technological change increases inequality between highly skilled workers and the unskilled workers (Singer). Trade and politics should be independent of each other. Globalization means differently to different people. While it provides opportunities to many people, it has also caused impoverishment to many groups and societies. Globalization has led to rapid and sudden changes in information and communications, which too has advantages and pitfalls. There are conflicting stands on this issue. Globalization is the concept of moving towards single-world society. In this effort there has been rising share of economic activity in the world. The aim was to open the world market to everybody and was thought to be a solution to social and economic disorder prevailing in the world. Globalization has brought about competition, liberalization, deregulation, and privatization and opened up capital markets but at the same time it has undermined the economic prospects for millions around