The first definition states that globalization entails the creation of new social infrastructures, while expanding the already existing frameworks, in order to bypass the confines whether they are economical or cultural. Secondly, it is argued that globalization finds its force in the enlarging and consolidating both societal interaction and interdependencies, the world has become a ‘Global Village’. The internet plays an important role in the third form of globalization, as it allows both the acceleration and the amplification of social interplay; information is accessible practically instantly around the globe (Steger, 2003). Anthony Giddens cleverly summed this up as “Globalization can thus be defined as the intensification of worldwide social relations which link distant localities in such a way that local happenings are shaped by events occurring many miles away and vice versa” (Giddens, 1990 : 64). The final definition recognises not only the objective aspects of globalization as mentioned previously, but it takes into account the subjective involvement of the individual. Consequently as actors become aware of these new social processes and the existence of the ‘global village’, has an effect of gradually changing both cultural and personal identities, and therefore the manner in which interaction occurs with the world at large (Steger, 2003).
One of the underlining characteristics of globalization is its promotion of ‘Free Trade’, within the capitalist society that we bathe; the principal aim is to produce the maximum profit margin as possible, while limiting the production costs. The concept of the global village has permitted Transnational Corporarations (TNC) the possibility to relocate their production and industries, and install them in various locations around the planet, where the human and technical costs are hugely inferior. It is argued by those in power, that this form of production is dually advantages, as it provides work and employment for many developing nations and equally produces articles for consumers at a cheaper rate (Marsh and Keating, 1996).
It is important to highlight that to a certain degree the effects of global capitalism are not always positive, hard hit are that of the British economy and employment market, for each of the different industries, whether the Steel industry, shipbuilding or textile, their relocation has had enormous consequences (Marsh and Keating, 1996). The dark side of globalization and the competition on the open world market that it establishes, as cost millions of individuals in Britain and across western Europe their employment, as many factories are no longer competitive due to the influx of commodities produced cheaper in other parts of the globe (Frieden, 2007).
The race to maximise profit margins, was seen to be the main decision in the relocation of the ‘Dr Martens’ footwear production line in the Guangdong, Province of China, where the new employees are paid a fraction of the monthly wage of their Nottingham predecessors, which consequently resulted in the loss of one thousand jobs. B and Q, renowned for its ‘do-it-yourself’ stores, equally relocated the production of approximately one billion pound of electrical apparatus and garden furniture to the Guangdong that was previously manufactured within the United Kingdom. It is important to state that Britain is the biggest European financial investor in China, which unsurprisingly boost the Chinese economy at the detriment of that of the British economy, has each pound invested in China or elsewhere in the world, is one less pound likely to be invested in the United Kingdom (Marsh and Keating, 1996).
In the analysing of this essay and the arguments put forward, it is comprehensible to understand that the issues surrounding the topic of globalization are controversial, personal opinion may take one of two perspectives, either for or against, and this standpoint largely depends on the individual situation. It cannot be denied that many third world and underdeveloped countries have benefited from this international competition, ranging from better life chances to improved living conditions. Nevertheless, it should not be forgotten that every coin has its other side, thousands of individuals have seen themselves become unemployed or in precarious positions, due to these mass relocation of factories and industries, global capitalism is so focused on profit making, that it has lost sight of the obvious… the individual.
Bibliography
Frieden, J.A. (2007) Global Capitalism: Its Fall and Rise in the Twentieth Century. New York: W.W. Norton and Company, Inc.
Giddens, A. (1990) The consequences of Modernity. Cambridge: Polity Press.
Marsh, I. and Keating, M. (1996) Sociology: Making sense of Society. Third Edition. England: Pearson Education Limited.
Steger, M.B. (2003) Globalization: A very short Introduction. New York: Oxford University Press Inc.
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