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Depending on the paradigm, economic globalization can be viewed as either a positive or a negative phenomenon. Economic globalization comprises: globalization of production; which refers to the obtainment of goods and services from a particular source from locations around the globe to benefit from difference in cost and quality.
Although globalization has promised an improved standard of living and economic development, it has been heavily criticized for its production of negative effects. Globalization is not simply an economic project, but it also heavily influences the country environmentally, politically, and socially as well.
Globalization is sometimes perceived as a cause of a phenomenon called the "race to the bottom" that implies that to minimize cost and increase delivery speed, businesses tend to locate operations in countries with the least stringent environmental and labor regulations. Pressure to do this is increased if competitors lower costs by the same means.
Instead, globalization is viewed as a continuous engagement between various different social groups. While the destruction of the rainforest habitats through globalization is seen as a negative result, the emergence of local and national activists in response to these circumstances have led to more support for indigenous and environmental rights.
With the many apparent positive attributes to globalization there are also negative consequences. The dominant, neoliberal model of globalization often increases disparities between a society's rich and its poor.
World citizen badge. Global studies – interdisciplinary and multidisciplinary academic study of globalizing forces and trends. Global studies may include the investigation of one or more aspects of globalization, but tend to concentrate on how globalizing trends are redefining the relationships between states, organizations, societies, communities, and individuals, creating new challenges ...
The first major protest in Seattle, Washington against the World Trade Organization (WTO) and its role in promoting economic globalization came as a surprise to many, considering the positive impacts globalization was supposed to bring. According to Stiglitz, this was the first step in a widespread recognition that globalization was all “too ...
Globalization refers to the increasing global relationships of culture, people, and economic activity. With economics crisis started in 2008 the global economy has ...