Globalization or globalisation as we say in the Queen’s English. Is it the WORST thing to happen to planet or a really GOOD thing ?
The term globalization is becoming increasingly common around the world. For some it represents the future and how the world may change to become more equal, with merging cultures, ethnicities, economic systems, social justices and political ideals. For others, it is a pernicious force that poses a danger to local markets, domestic culture and unique customs. Either way, no matter what you think, it is happening.
– Peter Walsh
Globalisation rewrote careers for many IT workers in US, UK and Europe almost overnight. One day they were regarded as skilled essential staff, with pay similar to other sought after professions such as accountants and lawyers, the next many laid off OR their wages dropped massively. The cause – cheap labour from other countries including India, China and Mexico. Basically the key factor is that GLOBAL cheap communications had come of age – eg. cheap telephone calls over the internet.
The effect is NOT JUST ON THE INDIVIDUAL WORKER, but ripples out to their family, their community and the society they live in. WHY ? Because they no longer have their previous income – they stop spending in shops, they dismiss their gardener/cleaner/housekeeper, they don’t pay someone to redecorate, they keep their old carpets and they certainly can’t afford vacations anymore. Basically because they don’t have spare money to spend, everyone that they would have given money to suffers right alongside. Where this is on a massive scale, THE WHOLE SOCIETY suffers massively, not just individuals. “The money” has essentially been moved to another country, by a faceless corporation who’s only concern is profits.
Governments seem to be little interested or little able to do much about it. Mainly I feel because the companies who moved the jobs are HUGE MULTI-NATIONALS. Governments can’t restrict these HUGE companies, they’d just simply say – “ah well, ok, we’re pulling out of America or UK or Germany altogether, bye !” … Basically – many of them can just move their operations to a more favourable jurisdiction.
So that’s the negative side, for western economies.
The positive side, is that smart and progressive capitalists can take advantage. I have a friend who owns a company that manufactures and sells computer software for a niche. He visited India and now has an entire team working for him at a fraction of the cost of what it would be in the UK, Europe or US. His profits have massively increased overnight, and his potential for making his software EVEN BETTER has improved.
For digital nomads, that is people who can work from anywhere, globalisation must be a dream come true.
And of course lest we forget that globalisation has been very kind to India and China, and others. Which is a plus if you happen to be a citizen of those countries.
The world is now seeing the Chinese replace the Japanese as “THE” Asian tourists. Why ? That’s were the money keeps on flowing !
So my point is there’s pluses and minuses. The immediate impact is HUGE and DEVASTATING for economies with a high standard of living such as the UK, Europe and US, because jobs just get cut. But for those who can get over themselves, it’s opened up huge potential as well.
A bright new future in a brave new world OR the fall of western capitalist countries … I don’t know, the future is yet to be written …
How has globalisation affected you ? Do you think it’s a good or bad thing for your country and community, and other’s ? Where does it end ?
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