Key Indicators Of Globalization Essay

937 Words2 Pages

What can we, therefore, put as the attributes and the key indicators of globalization? In a way, the attributes of globalization tend to be dynamic. The attributes are thus the mobility of persons/workers, capital, information, ideas, goods and services. Key indicators include the existence, the diversity, the volume, in terms of quantity and quality of communication, and transportation. It also includes the interaction among nations and among individuals within the nations and with other nations. An important aspect of the indicators is speed, which in some ways makes for great mobility. Although I will not attempt to do so, it could be possible to measure some or all of the indicators. This will show among other things, the deepening of the …show more content…

Indeed without globalization, the benefits of development finance could not have been possible. Globalization has many other consequences, side effects, by-products, and implications, which some authors (see Bhagwati 2004; Stiglitz 2003; Sodhi 2011; Bishop et al. 2011Bishop et.al. 2011) have discussed. These include aspects relating to, but not limited to economic globalization, as well as to the environment and concern for the degradation of the environment, the issues of exploitation, poverty, social and demographic inequalities, and inequalities in income distribution, all of which, they believe globalization has directly and indirectly led to. Some of the issues attributed to globalization are actually not consequences, from the point of view of cause and effect, but are more by-products of the way globalization has progressed in all its dimensions, (i.e. economic, cultural, interaction among individuals and groups of individual in different countries). The proliferation of organizations in the civil society, especially non-governmental organizations, is one of these by-products. Their intervention in the economies of developing countries is another by-product of globalization. The role which these organizations play in situations around the globe and more so in …show more content…

Such authors as Ouattara, (1997, pp. -Pp 1, 3), Bhagwati, (2004, pp. -Pp 32, 33, 228–-230) and Stiglitz, (2003, pp. -Pp 7, 8, 119) have also discussed the down sides of globalization, some of which can have devastating effects on the lives of individuals, especially in developing countries. Such aspects include price movements of commodities. Movements in international commodity prices can, to some extent, cause havoc with balance of trade of developing countries. They have been the subject of articles and books for a long time; Spencer (1977, pp. —Pp 1–-20) outlined some of the impact of commodity prices on the balance of trade and of payments on developing countries. Even though such movements are part and parcel of international exchange and trade, globalization has given speculators added elements, techniques, and tools in their arsenal, so that they can move their funds from agricultural produce to minerals, to foreign exchange speculation with increased rapidity. These can have adverse effects on the balance of payments of developing countries. Along this line of thinking of devastating effects, Glenny (see Grimes 2008) wrote about globalization and the criminal underworld, showing how organized criminals make use of the attributes of globalization to spread their reach beyond their own national borders. This confirms, as it were, my earlier statement that each author sees

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