Funny Stuff is all around

Global Issue Effects Of Today And Yesterday

The centuries-long process of globalization and carefully constructed trade strategy has helped some of the current superpowers establish their sphere of influence in the world. One can observe some of the historical impact of financial globalization on developing nations. For instance, without cotton exports to the Northern US and Britain during the Civil War period, the opulent palaces in Egypt, Jaffa, Palestine and other outposts of the Ottoman Empire would have never existed. Similarly, China has emerged as a super power as a result of textile and technological exports. Yet global issues have arisen because certain countries have gone to great lengths to protect their investments.

The last twenty years have shown a large increase in globalization trade, which was expedited by the decline of communism and closed door trade strategy. Countries like China and Russia have welcomed foreign developers in an effort to bolster and rebuild their nations. The Soviet Union was in a state of disrepair at one time and China was overwhelmed with poverty, but thanks to financial globalization, their countries are now valuable players in the world market.

Today’s global issues vary, depending on who’s questioned. Some activists say that US trade strategy puts the nation in a compromising position. While on one hand, the US is the world’s 2nd biggest exporter (after Germany), they are also the #1 importer as well. It’s difficult to imagine what would happen to the US economy if suddenly clothing, oil and technology prices skyrocketed through the roof and were put into a chokehold by Eastern markets. Others argue that another negative effect of globalization is that it can decrease competition in local markets and actually hurt some developing countries. For instance, the Free Trade Agreement with Latin American poses some problems as US countries exploit workers without accountability, yet Latin America is powerless to create and enforce regulations because American businesses will simply pack up and go to another Free Trade nation. Anti globalization activists point out that violence naturally increases in the economic poles of places like Colombia; and also, while multi-national corporations and politicians profit, the local farmers and common man languishes in poverty.

While there are abuses of globalization, resulting in global issues, there are some benefits of globalization as well. For example, World Bank points out that world poverty rates are diminishing, feminism and literacy rates are improving, life expectancy has increased and more countries are holding elections than ever before. It appears that commodities aren’t the only thing spreading across the borders, but ideas of elected officials, entrepreneurial advantage and freedom are too.

One thing is certain though, globalization has brought countries closer together which means facing up to other global issues such as global warming causes is now possible.

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