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Globalisation is the way forward for both rich and poor. To what extent do you agree with this statement? Explain your reasoning.

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Introduction

MANAGEMENT ASSIGNMENT: Question 1: "Globalisation is the way forward for both rich and poor." To what extent do you agree with this statement? Explain your reasoning. Word Count: 1498 Introduction What is globalisation? Definitions vary from one source to an other, and are usually too narrow, i.e., they consider just one aspect of globalisation, and most often, the economic side solely. A comprehensive definition of "globalisation" could be the following: "Globalisation refers to increasing global connectivity, integration and interdependence in the economic, social, technological, cultural, political, and ecological spheres." (Wikipedia) Is this a new phenomenon? No, is it not. Evidence of this was found in old writings, some of them dating back to 60 AD ! In fact, the roman stoic philosopher Seneca was already criticising an early type of "globalisation" (even though this word didn't exist yet) : "Our ancestors have known the time of innocence, they were without malice, they were staying at home peacefully, they were growing old on the fields of their ancestors (...) Back then the world was multiple (...) Barriers have been moved, on the virgin lands towns have been edified, the world is etched with pathways, everything moves, nothing stayed the same." (Edee, Seneca) The word "globalisation" appeared when globalisation expanded rapidly due to the creation of new technologies thanks to which information, products and people can travel faster and cheaper, e.g., aircraft, the Internet, cellular phones, etc. ...read more.

Middle

The WTO is composed of 147 country-members, which represent "90% of the value of world trade. The WTO's main role is to promote a fair international trade by eliminating or limiting trade barriers such as tariffs, quotas, etc. The WTO has been given more power than its predecessor and can actually act like an international court with trading cases, namely it can arbitrate trading disputes between states and issue a decision which will be legally binding. It can also sanction countries which do not comply with its decisions. The WTO is supposed to reach decisions (either when arbitrating disputes or when discussing new agreements) democratically: the majority of the country-members' representatives have to agree for a decision to be effective. However, many detractors of the WTO believe that decisions made by the WTO are usually bias, in favour of the developed countries. Some arguments support this view. Indeed, if the WTO is as democratic as it claims to be, how come the 17 most accessible countries to import penetration are African? How come promises made by developed countries and taking the form of an agreement are not enforceable (e.g. the Doha agreement, Qatar, 2001) ? Lobbies seem to be a major barrier to the WTO's democracy. Other global institutions include the International Monetary Fund (IMF) which promotes "global monetary cooperation" and "financial stability", the World Bank which lends money to the developing countries, the United Nations which aim is to preserve peace through international cooperation, and finally, the G8 ( the Group of Eight Nations) ...read more.

Conclusion

b. In 1992. c. In 1950-55. Published by the United Nations Department of Public Information, DPI/2171/G - June 2001 The standard of living can also be assessed thanks to other data such as the country's political system (freedom of expression), the identity of a nation (feeling of being part of something), employment (see "the economic aspect of globalisation") and the environmental negative externalities (pollution). Thus, some believe globalisation improved people's 'quality of life' by promoting democracy. Indeed, the worldwide growth of education, as well as the increase of information and communication technologies have spread the democratic ideology all over the world and made the implementation/subsistence of totalitarian systems very hard. On the other hand, detractors of globalisation often use cultural and environmental arguments to criticize the social outcomes of globalisation. Some see globalisation as "americanisation" and dread a universal culture standardisation, with 'weaker' cultures slowly disappearing. Environmental protectionists point out that globalisation increase the planet's level of pollution by encouraging the overexploitation of scarce resources (e.g., deforestation) and increasing the need for transportation. Conclusion Globalisation could be the way forward for both rich and poor, if rich countries accepted to play more fairly in the economical sphere, or if poor countries had more political power to protect their interests. The social protecting systems should also be improved in developing countries, so the population can benefit from the economic growth. Until then, globalisation will mainly benefit the richest countries. 5 ...read more.

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