Essay
Is Globalisation undoubtedly a force for good?
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1000 word essay on the effects of globalisation around the world, and how globalisation affects areas of the world differently.
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Vishay“Globalisation is undoubtedly a force for good”
How far do you agree with this statement?
Globalisation is the process by which businesses, organisations and governments develop
international influence and relations. It describes the growing interdependence of the world’s
economies, culture and populations, brought together by the cross-border trade of goods, but it
is also mainly Western dominated and based on capitalism. Globalisation has done more good
to the world than it has harm. It first began with the silk road, involving many middlemen that
delivered luxury goods like silk from China to Europe in 1B.C. Over time, as technologies and
knowledge improved, global links have become stronger. The circumnavigation of Ferdinand
Magellan saw Arab and Italian middlemen be cut out during trade between East and West.
After the industrial revolution, there have been significant advancements in technology.
Technology is a key driver of globalisation. As technology advanced, the world became more
accessible. Inventions such as the steam train allowed large and heavy cargo to be transported
across long distances on land efficiently. This made trade a lot faster and cheaper. In turn,
more people were now able to trade. Technology has also meant that knowledge can be
shared easily. This has led to major breakthroughs in things like robotics and medical
treatments. The internet has allowed countless information: gathered both nationally and by
people elsewhere in the world, to be accessed by the general population at the click of a few
buttons. This information can be used to innovate domestically and create goods and services
that meet customer needs, leading to profits. Foreign knowledge boosts domestic productivity
growth for firms by 0.7% each year. The internet has also allowed businesses to expand
globally, without needing a physical store in every country through e-commerce. This enables
businesses to maximise profits by selling to the global market while also benefitting the country
that they are based in via tax. It also helps technology advance faster as businesses are not
only competing with others within their own country, but also globally. This promotes healthy
competition, as each business wants to gain a larger market share than their competitors,
leading to more investment to create better goods and services. This cycle of more knowledge
leads to better technology which leads to more knowledge gained has sped up the process of
globalisation by complementing each other and has improved the world in many ways.
Some people say that technology has just given HIC nations even more control over LIC’s who
are not as technologically advanced and can’t afford to constantly purchase the latest
technologies every time. To keep up, they require financial aid from HIC’s, and many
companies based in HIC’s donate technology to the LIC’s. This benefits both parties as the
LIC’s get new technology and HIC’s improve their political relations with those countries.
Technology is constantly improving, and each technology is normally meant to be integrated
and improved by adding it to another piece of technology. Many companies in LIC nations have
taken advantage of this and used the technology donated to improve the standard of living in
their nations. Deaftronics, a hearing aid company based in Botswana developed hearing aid to
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