perspective on globalization essay

Four Perspectives on Globalization

Introduction, general background information about globalization, hyperglobalist perspective, the skeptical perspective, transformationalist perspective, constructivism perspective, works cited.

Globalization has been a lengthy and frightening concern for the citizens of the United States. Even though the problem did not affect everyone in the United States, most individuals in the middle and lower classes have been affected by issues linked to globalization. “ There is growing uncertainty in industrialized countries about whether globalization means more opportunity or more risk” (Petersen & Jungbluth). Thus, the issue of globalization has been a concern for the United States well before the twentieth century. This essay will explore four perspectives of globalization: the transformationalist perspective, the skeptical perspective, the hyperglobalist perspective, and the constructivist perspective.

Globalization concerns big corporations that establish relationships with other countries and do commerce that benefits both. Different countries benefit differently from globalization which creates different opinions. “The largest average income gains are found in Switzerland and Japan where they rose by an average of €1,900 and €1,500 per capita and year, respectively” (Petersen & Jungbluth). Naturally, the primary proponents of policies promoting unlimited freedom of economic activities are those who stand to benefit the most, with transnational corporations serving as direct beneficiaries. There are thousands of Transnational corporations (TNCs) globally, such as International Business Machines in the electronics sector and McDonald’s and Coca-Cola in the food and beverage sector. The global development of TNCs and operators aids developed countries in consolidating and strengthening their influence in other states (Pettinger 5). As a result, governments benefit significantly from it, and it is unsurprising that they fully support their TNCs’ operations in other nations.

The perspectives on globalization include the transformationalist perspective, the skeptical perspective, the hyperglobalist perspective, and the constructivist perspective. Proponents of each of these perspectives see globalization and its processes differently. From a hyper-globalist perspective, individuals are typically excited about globalization and its prospects. “According to the hyperglobalist, transnational commercial networks of industry, trade, and finance circumvent nation-states, rendering them and their governments powerless to regulate market forces properly” (Geracie). The multinational company has exceeded that state and helped by increasing economic mobility, causing the government to be more pro-business and adopt free-market policies.

According to the hyperglobalist perspective, “people have achieved the end of geography, at least from the standpoint of the nation-state” (Geracie). Economic activity is free to move from one place to another internationally, located wherever the prices, regulatory environment, and infrastructure are most conducive to business. Globalization is irreversible and is seen positively according to this perspective. It is because it is considered a method of boosting the economic well-being of all people by permitting more effective resource allocation through the market and free commerce. At the same time, it is perceived to lessen government intrusion in people’s lives leading to more liberty and individual independence.

The skeptical perspective individuals draw upon various evidence that globalization is overstated, that it is a myth, as are those perceived benefits under globalization that the hyper globalists present. Skeptical perspective proponents present three essential claims; first, they contend that the world economy was more globalized from 1890 to 1914 than today in terms of commerce. Second, they argue that the “headquarters of the vast majority of multinational companies (MNCs) are still firmly embedded in particular nation-states, where you will also find a high share of assets and operations” (Geracie). They claim that most investment and trade still occur between mature economies and nations or within macro-regions such as the European Union (EU) and Southeast Asia.

From the skeptic perspective, globalization is viewed as a helpful political fiction to bolster the claims of free marketers and neo-liberals over those who argue for more significant government intervention and involvement as representatives of the people. “Third-world countries are not being integrated into the global economy with the same benefits as first-world countries” (Geracie). They claim that any growth in global economic integration that does not include governmental involvement or international collaboration would expand the gap between the rich and poor.

Transformationalist perspectives, like skeptics, recognize that globalization is a long-term historical process that began with the colonial expansion of Western European governments in the sixteenth century. “They differ from skeptics in their belief that the global economy is undergoing significant qualitative changes that redefine relationships between governments, firms, and communities” (Geracie). Transformationalists realize, in contrast to hyper-globalists, that the impacts of globalization are not as simply quantifiable. Transformationalists reject the hyperglobalists’ end-of-geography argument. Globalization does not make all locations the same; instead, it creates new types of differences.

Constructivism is when individuals think of the social environment through symbols, language, pictures, and interpretation. It is the product of a certain kind of awareness and how it is expressed. “A culture’s more profound social, economic, and cultural impacts may be traced back to second-order systems like production and government” (Burlacu et al. 124). Societal actors construct their reality by thinking about it and communicating it with one another, which is the focus of constructivist theory. People can form their views of the world and social norms via discussion and symbolic interactionism: Both the mind and the body are involved in the study of social geography.

Globalization is a long-term trend that is shifting and may be slowing. There are benefits and drawbacks to globalization’s promotion of more open borders and free commerce. The different perspectives on globalization include the transformationalist perspective, the skeptical perspective, the hyperglobalist perspective, and the constructivist perspective. Globalization disproportionately impacts poorer and more vulnerable socioeconomic groups, especially developing countries. As a result, these organizations and nations must acquire a critical awareness and assessment of the nature and process of globalization and its societal repercussions. Individuals, corporations, and governments must evaluate all sides of the globalization perspective.

Burlacu, Sorin, et al. “Globalization, Pros and Cons – Researchgate.” Globalization–Pros and Cons. , Vol. 19, 2018, 122-125. Web.

Geracie, Michele. “Globalization Theories and Different Perspectives about It.” Michele Geraci – Economy, Society and the World.

Petersen, and Cora Jungbluth. “Globalization Report 2018: Who Benefits Most from Globalization?” Global & European Dynamics .

Pettinger, Tejvan. “What Caused Globalization?” Economics Help . Web.

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Bibliography

IvyPanda . "Four Perspectives on Globalization." November 20, 2023. https://ivypanda.com/essays/four-perspectives-on-globalization/.

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Essay on Globalization for Students and Children

500+ words essay on globalization.

Globalization refers to integration between people, companies, and governments. Most noteworthy, this integration occurs on a global scale. Furthermore, it is the process of expanding the business all over the world. In Globalization, many businesses expand globally and assume an international image. Consequently, there is a requirement for huge investment to develop international companies.

How Globalization Came into Existence?

First of all, people have been trading goods since civilization began. In the 1st century BC, there was the transportation of goods from China to Europe. The goods transportation took place along the Silk Road. The Silk Road route was very long in distance. This was a remarkable development in the history of Globalization. This is because, for the first time ever, goods were sold across continents.

Globalization kept on growing gradually since 1st BC. Another significant development took place in the 7th century AD. This was the time when the religion of Islam spread. Most noteworthy, Arab merchants led to a rapid expansion of international trade . By the 9th century, there was the domination of Muslim traders on international trade. Furthermore, the focus of trade at this time was spices.

True Global trade began in the Age of Discovery in the 15th century. The Eastern and Western continents were connected by European merchants. There was the discovery of America in this period. Consequently, global trade reached America from Europe.

From the 19th century, there was a domination of Great Britain all over the world. There was a rapid spread of international trade. The British developed powerful ships and trains. Consequently, the speed of transportation greatly increased. The rate of production of goods also significantly increased. Communication also got faster which was better for Global trade .

Finally, in 20th and 21st -Century Globalization took its ultimate form. Above all, the development of technology and the internet took place. This was a massive aid for Globalization. Hence, E-commerce plays a huge role in Globalization.

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Impact of Globalization

First of all, Foreign Direct Investment (FDI) increases at a great rate. This certainly is a huge contribution of Globalization. Due to FDI, there is industrial development. Furthermore, there is the growth of global companies. Also, many third world countries would also benefit from FDI.

Technological Innovation is another notable contribution of Globalization. Most noteworthy, there is a huge emphasis on technology development in Globalization. Furthermore, there is also technology transfer due to Globalization. The technology would certainly benefit the common people.

The quality of products improves due to Globalization. This is because manufacturers try to make products of high-quality. This is due to the pressure of intense competition. If the product is inferior, people can easily switch to another high-quality product.

To sum it up, Globalization is a very visible phenomenon currently. Most noteworthy, it is continuously increasing. Above all, it is a great blessing to trade. This is because it brings a lot of economic and social benefits to it.

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Home / Essay Samples / Social Issues / Globalization / From Local to Global: My Perspective on Globalization

From Local to Global: My Perspective on Globalization

Category: Social Issues , Economics
Topic: Globalization , Income Inequality , Income Wealth Gap

Pages: 5 (2184 words)

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