Part 2. Positive AND NEGATIVE Aspects of Globalization

Positive Aspects of Globalization:

1. Employment .

Considered as one of the most crucial advantages, globalization has led to the generation of numerous employment opportunities. Companies are moving towards the developing countries to acquire labour force. This obviously caters to employment and income generation to the people in the host country. Also, the migration of people, which has become easier has led to better jobs opportunities.

2. Education .

A very critical advantage that has aided the population is the spread of education. With numerous educational institutions around the globe, one can move out from the home country for better opportunities elsewhere. Thus, integrating with different cultures, meeting and learning from various people through the medium of education is all due to globalization. Developing countries or labour-intensive countries have benefited the most.

3. Product Quality .

The onset of international trade has given rise to intense competition in the markets. A particular commodity may fetch hundreds of options with different prices. The product quality has been enhanced so as to retain the customers. Today the customers may compromise with the price range but not with the quality of the product. Low or poor quality can adversely
affect consumer satisfaction.

4. Competitive Prices .

Globalization has brought in fierce competition in the markets. Since there are varied products to select from, the producer can sustain only when the product is competitively priced. There is every possibility that
a customer may switch over to another producer if the product is priced
exorbitantly. «Customer is the King», and hence can dictate the terms to
a very large extent. Therefore, affordable pricing has benefited the
consumer in a great way.

5. Free Movement of Capital .

Capital, the backbone of every economy, is of prime importance for the proper functioning of the economy. Today, transferring money through banks is possible just by the click of a button, all due to the electronic transfer that has made life very comfortable. Many huge firms are inves-ting in the developing countries by setting up industrial units outside their home country. This leads to Foreign Direct Investment, which helps in promoting economic growth in the host country.

6. Communication .

Information technology has played a vital role in bringing the countries closer in terms of communication. Every single information is easily accessible from almost every corner of the world. Circulation of information is no longer a tedious task, and can happen in seconds. The Internet has significantly affected the global economy, thereby providing direct access to information and products.

7. Transportation .

Considered as the wheel of every business organization, connectivity to various parts of the world is no more a serious problem. Today with various modes of transportation available, one can conveniently deliver the products to a customer located at any part of the world. Besides, other
infrastructural facilities like distribution, supply chain, and logistics have become extremely efficient and fast.

8. A dvantage in C ooperation.

Governments are able to better work together towards common goals now that there is an advantage in cooperation, an improved ability to inte-ract and coordinate, and a global awareness of issues.

9. International Trade.

Purchase and sale of commodities are not the only two transactions
involved in international trade. Today, international trade has broadened its horizon with the help of business process outsourcing. Sometimes in order to concentrate on a particular segment of business it is a practice to outsource certain services. Some countries practice free trade with minimal restrictions on EXIM (export-import) policies. This has proved beneficial to business.

10. GDP Increase .

Gross Domestic Product, commonly known as GDP, is the money value of the final goods and services produced within the domestic territory of the country during an accounting year. As the market has widened, the scope and demand for a product has increased. Producers familiarize their products and services according to the requirements of various economies thereby tapping the untapped markets. Thus, the final outcome in terms of financial gain enhances the GDP of the country. If statistics are of any indication, the GDP of the developing countries has increased twice as much as before.

Negative Aspects of Globalization:

1. Health Issues .

Globalization has given rise to more health risks and presents new threats and challenges for epidemics. A very customary example is the dawn of HIV/AIDS. Having its origin in the wilderness of Africa, the virus has spread like wildfire throughout the globe in no time. Food items are also transported to various countries, and this is a matter of concern, especially in case of perishable items. The safety regulations and the standards of food preparation are different in different countries, which may pose a great risk to potential health hazards.

2. Loss of Culture

Conventionally, people of a particular country follow its culture and traditions from time immemorial. With large number of people moving into and out of a country, the culture takes a backseat. People may adapt to the culture of the resident country. They tend to follow the foreign culture more, forgetting their own roots. Globalization destroys cultural identity, for example Europeans usually try to impose their customs and traditions on Asian people .This can give rise to cultural conflicts.

3. Uneven Wealth Distribution

It is said that the rich are getting richer while the poor are getting poorer. In the real sense, globalization has not been able to reduce poverty. Instead it has led to the accumulation of wealth and power in the hands of a few developed economies. Therefore the gap between the elite and the underprivileged seems to be a never ending road, eventually leading to inequality.

4. Environmental Problems

The industrial revolution has changed the outlook of the economy. Industries are using natural resources by means of mining, drilling, etc. which puts a burden on the environment. Natural resources are depleting and are on the verge of becoming extinct. Deforestation is practiced owing to the non-availability of land, thereby drastically reducing the forest cover. This in turn creates an imbalance in the environment leading to climate change and occurrence of natural calamities.

5. Disparity

Though globalization has opened new avenues like wider markets and employment, there still exists a disparity in the development of the economies. Developed countries are moving their factories to foreign countries where labour is cheaply available. The host country generates less revenues, and a major share of the profits fall into the hands of the foreign company. They make humongous profits thereby creating a huge income gap between the developed and the developing countries.

6. Cut-throat Competition

Opening the doors of international trade has given birth to intense competition. This has affected the local markets dramatically. In recent times the standard of living has improved. People are therefore ready to shell out extra money for a product that may be available at a lower price. This is because of the modern marketing techniques like advertising and branding. The local players thereby suffer huge losses as they lack the potential to advertise or export their products on a large scale. Therefore the domestic markets shrink.

7. Conflicts

Every economy wants to be at the top spot. The fast-paced economies, that is the developed countries are tending to be the supreme power. It has given rise to terrorism and other forms of violence. Such acts not only cause loss of human life but also huge economic losses.

8. Monopoly

Monopoly is a situation wherein only one seller has a say in a particular product or products. It is possible that when a product is the leader in its field, the company may begin to exploit the consumers. As there exists no close competitors, the leader takes full advantage of the sale of its product, which may later lead to illegal and unethical practices being followed. Monopoly is disastrous as it widens the gap between the developed and developing countries.

The last but not least is that we don’t actually know to what globalization can lead, we don’t realize its consequences. So globalization is likely to be a hot potato for the twenty-first century.

III. Comprehension check

3.1. Answer the questions:

 

1. What is globalization?

2. What are the several key characteristics of globalization?

3. What is the diffusion of knowledge?

4. What are the positive aspects of globalization?

5. What are the negative aspects of globalization?

6. What does the term loss of culture mean?

7. How do you understand the term «disparity in the development of the economies»?

8. What is your position towards the globalization?

9. Does globalization influence your life? How?

10. Would you like to live in the global world?

 

3.2. Match the parts of the sentences:

1. Globalization can be described as a process	1. to the people in the host country.
2. In years past, people across the globe	2. unaffiliated with the government and can be nationally or globally focused.
3. When a new invention or way of doing	3. by which the people of the world are unified into a single society and function together.
4. So called non-governmental organizations bring together people	4. but not with the quality of the product.
5. This obviously caters to employment and income generation	5. did not have the ability to communicate and could not interact without difficulty.
6. Today the customers may compromise with the price range	6. something pops up, it does not stay secret for long.
7. Many huge firms are investing in the developing countries	7. one can conveniently deliver the products to a customer located at any part of the world.
8. Information technology has played a vital role	8. and presents new threats and challenges for epidemics.
9. Today with various modes of transportation available,	9. by setting up industrial units outside their home country.
10. Today, international trade has broadened its horizon	10. and power in the hands of a few developed economies.
11. Globalization has given rise to more health risks	11. in bringing the countries closer in terms of communication.
12. Instead it has led to the accumulation of wealth	12. with the help of business process outsourcing.
13. Deforestation is practiced owing to the non-availability of land,	13. are tending to be the supreme power.
14. Developed countries are moving their factories	14. one seller has a say in a particular product or products.
15. This is because of the modern marketing techniques	15. thereby drastically reducing the forest cover.
16. The fast-paced economies, that is the developed countries	16. to foreign countries where labor is cheaply available.
17. Monopoly is a situation wherein only	17. to be a hot potato for the twenty-first century.
18. So globalization is likely	18. like advertising and branding.

 

3.3. Decide whether these statements are true, false or information is not available:

1. Globalization is a process by which the people of the world are unified into a single society and function together.

2. Nowadays people across the globe did not have enough possibility to communicate and could not interact without difficulty.

3. Most migration takes place within or between Asian countries.

4. One of the key characteristics of globalization is diffusion of knowledge.

5. Globalization doesn’t get people better jobs opportunities.

6. Globalization causes unemployment in Europe.

7. A very critical advantage of globalization is the spread of education.

8. Globalization gives people better product quality.

9. Human diseases can spread more quickly through globalization.

10. Globalization doesn’t lead to the cultural conflicts.

11. Globalization reduced the poverty.

12. Environmental protection is one of the main tasks of globalization.

13. The disparity in the development of the economies is one of the bad sides of globalization.

14. Cut-throat competition is a positive aspect of globalization.

15. Globalization gives rise to terrorism and other forms of violence.

 

IV. Grammar in Focus

4.1. Translate the sentences, state the form and function of the Gerund:

 

1. Travelling abroad can be very interesting.

2. The main point of the discussion is applying the new methods.

3. I can’t stand being treated in such a way.

4. What is the most effective method of transmitting information?

5. Before coming to any conclusion you should thoroughly analyze all the facts.

6. He said about his experience for the purpose of getting that job.

7. This performance is worth seeing.

8. I can’t help thinking about this matter.

9. We don’t feel like walking.

10. My friend can’t stand telling the lie.

11. Does anyone object to launching an investigation?

12. I am very pleased to meet you after hearing so much about you.

13. He was surprised at having been given such a high award.

14. In discussing the problem they touched upon some very interesting items.

15. Creating a program for the computer will be the next question of the discussion.

 

4.2. State the part of speech of the word in italics а ) participle, b) gerund, с ) noun

1. There is a visitor waiting for you.

2. When I was examining the machine I noticed its engine to be out of order.

3. He took part in the sittings of the committee.

4. Reading foreign journals is necessary for an engineer.

5. Having read many English books in the original, he knows the language perfectly.

6. A brilliant reading of a poem won the first prize in the competition.

7. We were informed of the new equipment having been delivered to our plant.

8. You can enlarge your vocabulary by reading foreign journals.

9. The joyful laughing of the children was heard in the next room.

10. In case of receiving the letter please inform me as soon as possible.

11. My tutor insisted on my speaking in public.

12. He couldn’t help laughing when seeing me in such a strange dress.

13. She received a letter informing him of their new address.

14. I don’t like all these clubbings and dancings.

15. The singing of those beautiful folk Scottish songs impressed me greatly.

 

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