Essay on Globalization

Globalization is not a new concept as people had been purchasing and selling amongst each other from distant lands for centuries. This was later taken up by corporations and for centuries firms and people have been investing in ventures outside the borders of their own countries. This is why globalization, as it is known today, has features that were prevailing before the world war one broke out. The technological and policy development has triggered an increase in foreign trade, immigration and also investment which is a new phase that the world is entering regarding continued economic growth. Globalization is a highly controversial topic, and a lot of arguments have been voiced by its proponents (Lane, 2017). Rich countries produce highly skilled employees who are appealing to the global companies which leave out the low skilled workers from the developing nations.

This is a disadvantage to these workers, and at the same time, it is enhancing the growth of the informal sector in the poor nations. This phenomenon is a result of the barriers that entrepreneurs from the developing nations face as they try to enter the global formal sector. According to the defenders of globalization, the developing nations stand to benefit from globalization. This is because the promises of globalization are tuned towards tackling issues that are most prevalent in the developing nations such as creating job opportunities and reducing the gap between the rich and the poor nations. The supporters critique the ‘illegal’ immigration on the basis that they take away the peoples jobs hence the need to limit the phenomena of creating jobs across borders.

Also, the older supporters prefer the inhibition of people’s movement. The bottom line of their argument are the hardships posed by the economy, racial resentment and the fear of multi-culturalism and also anxiety over being left behind (Trubowitz, 2016). Arguments made by supporters of the Brexit vote and trump election vary from those made by the anti-globalization protesters regarding the basis of their arguments. Anti-globalization critiques claim that globalization is only beneficial to the rich nations hence it does not work for most of the nations in the world. Although the notion that the rich get richer while the poor become poorer in the light of globalization, it has had significant benefits to nations that were in need of the interaction and co-operation.