To what extent should we embrace the perspective of economic globalization reflected in the source? The source refers to the world as a “global village”, where people living in differ rent parts of the world have started to share values and beliefs when they were not able to before. Through globalization, people become interconnected and economies intertwine such that someone in USA could be wearing a shirt made in China.
With the rise of a global economy, the source explains that people expected economic globalization to “lift all boats” symbol sizing that most had wished that it would be beneficial to all businesses and countries. The so uric goes on to state that the current economic scenario has been like “a riptide that has knocked over the weakest boats. ” Riptides are very strong, violent currents that pull its’ victims out to SE a, usually causing panic that ends in drowning.This gives an image of harshness that the writer uses to suggest that when countries or businesses remained too weak, they were pulled under and rendered hopeless. The author is clearly positive about the potential of economic globalize Zion and is aware of its’ current flaws, but believes that with proper management, everyone can obtain n the “promise of enormous benefits. ” The source’s unrealistic belief that everyone has the possibility of benefiting c an be perceived as naive by critics who argue that past policies instigated by govern meets have had more negative than positive results.
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No matter how many policies government TTS put in place to manage economic globalization, multinational companies will still find ways t o thwart the system. Change is inevitable. However, the transition to fairer economies is in the ability of the public to make the correct decisions and actions as a whole. Economic globalization has the potential of being more beneficial. However, the source’s perspective should be agreed with to a certain extent as the public can only change the inequalities that it knows of .
In the face of globalization, multinational corporations are racing to find ways to operate with low costs for maintaining affordable prices while securing the highest pop usable profit. Trade laws like The North American Free Trade Agreement (NONFAT) and insist actions such as the World Bank (WEB) or the International Monetary Fund (MIFF) limit the govern moment’s ability to make decisions for the greater good of their nation. Even in countries like C and or the united States where governments flaunt democracy, they hide behind the ma ski of campaigns funded by the real leaders multinational companies.Ethyl Corporation’s laws tit against the Canadian Government’s environmental ban on MET, an additive believed to c notation neurotics, demonstrates how free trade poses a threat to environmental re solutions and the well being of nations. This agreement grants rights to investors and companies s to sue governments without going through the country’s legal system first. The gas s applier transporting MET claimed that Canada’s ban violated Infant’s fair treatment standards. The company won, resulting in the government paying an excessive amount of co imposition for lost profits and legal costs.Furthermore, after being forced to remove the MET b an, Canada was required to issue a statement that claimed that MET was not a health or nevi ornamental risk.
NONFAT was created to promote trade and help countries prosper. Instead, it o only undermined Canada’s sovereignty and ultimately, the government’s ability to protect it’s cit Seen. Similar to NONFAT the MIFF and WEB, institutions developed in the wealthy nation n of America, were made to create a more stable and prosperous global economy.They claim to help countries who are suffering under the global economy by providing loans. Ho waver,these loans come with policies that include opening the debtor country’s economy to fore sign companies, putting the country’s workers and environment at risk of being exploited.
Ma NY places in Africa decided to accept the offer for help from the MIFF and WEB. Today, Ghana is no w more in debt than it was before the MIFF and the poor can no longer afford food or the privy tasted services as a result of Miff’s policies.As developing countries are encouraged by the MIFF to focus on becoming more attractive to the economic world, they start to weaken their la four and environmental laws, also known as the “race to the bottom”. Therefore, sweat shops are created and the environment is ignored in the name of a successful economy. This can be shown through Ghana who used to be self sufficient in rice but after the MIFF and WEB required the government o stop providing subsidies and open their market to foreign products, local FAA rammers could not compete with foreign subsidized prices.
As a result, they had to turn to work i n sweatshops because the government had no power to protect it’s citizens. Even though governments are constricted by multinational corporations and global agreements, the public has the power to change the economy as consumers. By becoming more aware of our economy, consumers have the power to change these powerful companies through purchases. This is evident during the Inglewood vs.. Walter case where the c immunity became ore aware of Walter and its possible effects on their local businesses.Eve naturally, Inglewood managed to prevent Walter from building a store, overcoming a huge corp.
ration with only a small community. If people were more aware of where and how their product s are made and the history of the company that is selling the prod cut, they could make more info armed decisions and avoid buying products that have a negative effect on both the production and consuming country. Similarly, if the consumers of Ethyl gas were more aware of the controversy of MET or knew that a product was made in a sweatshop that exploited workers and the envier moment, they could have boycotted the company or product.Provided that enough consumers boo yacht a product, the company would have no choice but to change their policies until they are moor e ethical.
When consumers in America decide to buy a shirt made in China they should be informed Of the company supplying the product and the process Of production n in order to make a decision that will aid improvement of the global economy.