The Impact of Globalization
Describe about the Global Influences for Social Affairs and Connections.
As we are aware that globalization is envisaged as a set of procedures which symbolize a revolution in spatial organization where societal affairs and connections can be articulated in transcontinental or cross-region flows and arrangement of various activities, their interface and relative power. It is featured and being affected by various uncertainties and changes.
At one end, there is an opinion that open markets and free trade related investment across where the international markets permits more and more people to allocate in the affluence of an emerging world economy. The hyperglobalists basically deem that the present stage of globalization indicates that the foundation of the end for the nation-state and the “denationalization among economy’s. By economic denationalization they signify that the nation restrictions will be immaterial with admiration to the economic processes, and that national Govt. won’t be able to manage it in case of geographically encircled economy’s. Rather, this would probably provide connections among and between different part of the world via supra-national organizations such as NAFTA and the EU. The wider implications of the hyperglobalist position is that the world, which they believe that the world will become borderless as national Govvt. might turn to perform only as operators/providers of global capital flows and investments. The Hyperglobalizers firmly believes that the nation-state, the primary political and economic components of current world society, which would certainly be substituted by institutions of global governance in which individuals claim the international adherence, which is profound as a commitment to neo-liberal principles of free trade and economic integration (Marston, 2014).
The hyperglobalists presumes globalization is the key to increase/decrease the growth of any country and thus plays an important role in the country’s GDP. This is the reason why they state that the world is turning borderless as according to them the national Govt. turning into meaningless/ mission less entities and are functioning just as service providers for the global capital flows and investments (Team, 2012).
They firmly consider that the nation-state, the principally opinionated and economic-unit of modern world society, will subsequently be substituted by society of global supremacy in which the people basically allege international adherence, which are established on a commitment to neo-liberal values of free-trade and monetary amalgamation. Politically, the worldwide democracy will emphasize the appearance of the global governance, substituting the passé nation with a global organization’s such as the International Monetary Fund (IMF) and the World Trade Organization (WTO).
ASEAN is the most recognized cooperation and famous regional cooperation group in the region of East Asia. The Association of Southeast Asian nations (ASEAN) is the leading regional alliance in East Asia. It is extensively credited and known for its significant involvement for building the Southeast Asia region extra stable and affluent than it might instead have been the case. The ASEAN group also plays an important role as a supporter for the wider regional cooperation grouping which facilitate the forums for the Southeast Asian states, the main powers and other engrossed country’s to converse and organize the approaches towards the provincial issues.
Different Perspectives on Globalization
The group ASEAN holds a vast region of various group of countries which was originated in the year 1967 by Indonesia, Malaysia, the Philippines, Singapore and Thailand (Bank, 2010). The group has focussed towards the reverence for national self-government, avoiding altercation, realization accord gained via harmony and then subsequently proceeding at a platform where all the members are comfortable with each other and can share their honest opinion.
The region holds a stability from economic, political, socio-cultural point of view and rigorously work towards national sovereignty and region development (Intal, et al., 2012).
The ASEAN’s another key attempt on a broader and provincial endevaor was the ASEAN Plus Three process, a group, especially focussed on East Asian developed assist to bring a platform where the ten ASEAN members with China, Japan and the Republic of Korea can discuss and make an effort for the overall growth and development of the region as well as for the countries involved.
The ASEAN Plus group has turned to a group which is mainly concentrated and spotlight for regional discourse, even though most of the activities have in fact been on the basis of ASEAN connections with each having Northeast Asian members independently instead through cooperation (Frost, 2013).
ASEAN’s basically make endeavor for targeting the development and growth of broader multilateral forums who all are interested to do so. Devoid of these efforts, it is expected that the region related to East Asia and relative Asia Pacific regions shouldn’t have less prospect for tête-à-tête/discussion and the progress/improvement in the form of cooperation. ASEAN’s generally put exertion to prolong and prepared to tolerate the substantial challenge and issues. There are three key correlated issues which are generally targeted to regional development, i.e. the lack of extensive agreement with basically what is the most suitable and adequate grouping of the ‘regional states’ for the purpose of developing obliging and supporting arrangements, the second is continuing tensions and contradictory interests amid the key powerful countries (Hill & Menon, 2010). The group is prolonged to declare a place of ‘centrality’ at the hub of regional growth and its relative hard work.
First, ASEAN economies, trade predominantly with the rest of the world.
The ASEAN group is assorted and being practical in each or every correlated respect.
The group has a strong commercial policy architecture.
The group focus on welfare in case of uncertainty occurred on the macroeconomic (Intal, et al., 2012).
The ASEAN Group and Regional Development
These regions follow the return to growth approach, which implies instead of the instantaneous GFC possession, and drives to identify the rationale and identity against the rapidly changing atmosphere surrounded by the global environment. The group highlights and work rigorously on plethora of proposals.
The BREXIT word has turn and being used as a tachygraphy way of signifying that the UK is leaving the EU. This basically implies to the British and exit. BREXIT is basically combining two words, i.e. Britain, which is originated from Greek and exit has been originated from European language and was dubbed as Grexit in the past. A referendum, a vote in which almost everybody having voting age can get involved to choose whether the UK should depart or stay in the European Union. Absconding won by 52% to around 48%. The referendum churn out found to be 71.8%, with more than 30 million populace selection (Niblett, 2016).
The politicians who basically lead the UK. Out of the EU and must safeguard against permitting a deep gap to materialize among their political oratory and the reality facing the Britain outside.
The United Kingdom’s extraction from the European Union is usually known as Brexit, a neologism of “British-Exit”. By following a UK ballot held in June 2016, out of which 52% of votes were cast in the favor of leaving the EU, Prime Minister David Cameron left (Hunt & Wheeler, 2016).
Theresa May became the new Prime Minister and announced that the Govt. anticipate to raise the Article 50 of the Treaty on European Union, the official process of retreating, by the end of March 2017. This, within the treaty terms, would put the UK on a route to depart the EU by the end of March 2019 if no bargain withdrawal concord is attained. May has assured a bill to eliminate the European Communities Act, which was established in the year 1972 from the rule book and to integrate the existing EU laws into UK conjugal law. The terms of amputation haven’t yet been conferred in the meantime, the UK would possibly remain a full member of the European Union in that case.
The UK economy is deeply incorporated with the European associates on grounds of economy, army and cultural aspects. It’s probably that a BREXIT may probably direct to decline in the stock markets and direct to a financial downturn, perhaps worst than the 2008 financial crisis.
Economic Grounds: Opponents of the EU disputed that it is a multidimensional economic entity. The EU was unsuccessful to tackle the economic issues which have been rising since year 2008. For example, 20% unemployment in southern Europe was the situation occurred due to this.
Brexit and Its Potential Effects on the UK Economy
Sovereignty Grounds: The second reason for Brexit is the rise of patriotism worldwide. There’s a growing suspect of multi-national financial, commerce, and resistance organization formed post World War II. The EU, the IMF, and NATO are considered as good examples of this (Niblett, 2016).
Many who resist the EU deem these institute no longer provide a reason Not only this, but these organizations takes the control away from entity nation. The distrust and trepidation of trailing control pursued Brexit to a reasonable solution to them.
The environmental movement mainly refers to ecology movement, inclusive of the conservation and green politics. The initiative is a diverse scientific, social, and political movement in addressing the ecological issues. Though, the conservation movement had European roots, many observers maintain that the United States has appeared as the world’s leader in the field of environment.
America deserves the credit for initiating the green movement and started as a tough situation for environmentalist. The sustainability strategy basically assists the business and reach ahead of the doors to conserve and guard the planet and the natural resources. The green movement targets on diminishing the footprint, building more sustainable buildings, developing the supply chain more environmentally cognizant assisting the creative fortification proposals and motivating the associates/employees to help the efforts.
Going green is completely up to a personal choice, but one should consider that If the industry rivals are executing green initiatives, then that’s one of the unique way they are creating differentiation in the sector and this may replicate poorly on the company. I believe that there should be some regulatory and compliance audits which can promote the green movement in the industry and lead to enhance/sustain of the organization in the market. So, rather than following the competitor’s initiatives, one should craft and start initiating for making investment in green plan. I believe that the green plan which makes sense for your company can surely start generating benefits as soon as possible.
The benefits which are associated with the green movement and green strategy are mentioned as follows:-
Despite of decrementing the business’s crash on the environment, one of the key benefits for executing these green initiatives is reducing costs, especially with an objective of reducing the energy consumption. Apart from reducing the costs associated with utility, it is quite feasible to reduce associated costs of transportation, water, waste-disposal, paper and may certainly help in saving the natural resources (UNESCO, 2016).
“Going green” is a gigantic inclination and movement right now. It basically draws up the societal responsibility which can basically propagate the employees, highlighting the post on the company’s website, and this can proliferate the marketing.
It’s not easy to identify and measure the benefits occurred from the green initiatives made. On the whole, few surveys have accounted that the employees working in such environment friendly organizations are generally better-off with their work and the company on the whole if they are doing work towards green movement (Matthews, 2016). This is most probably due to the green initiatives which basically inspire and stimulate employees to work as a team en route for a universal purpose. I believe that establishing any of the business as a green company will help the populace to recognize the company and help in increasing and propagating the recruitment of new employees.
As an individual, I deem that there are numerous benefits of implementing the green initiatives. After you create a plan to execute the green initiatives, pursue thoroughly (Lallanilla, 2016). The company can go for getting certification, such as ISO 14001, IGBC and LEED certification. These certifications would help in increasing the chances of getting acknowledged for the efforts and pursue to attain win awards and subsequently extend the brand.
Culture is a lively force for the change instead of an inflexible set of the forms or factors which should be sternly complied to. In fact the World Commission on Culture and Development (WCCD) stated that a society’s culture is not static, but instead is in an invariable situation of change which may force and stipulate by other professional opinion
As we realize that the current era of globalization having unparalleled quickening and strengthening in the worldwide flow of capital, labor, and information holds a unique influence on the local culture. Although, this matter enhances the combination of the societies and facilitate hundred of people to avail new alternatives. This may also fetch the loss of exclusivity of the local culture, which may possibly lead to thrashing of individuality, elimination and even conflict. This is especially true in case of conventional society and community, which are showing the exact picture to boost ‘modernization’ which is based on the representation (Ornek, 2004).
Balancing the settlement of amalgamating into a world besides conserving the exclusivity of the local culture necessitate a vigilant and suspicious approach.
So, I believe that placing culture at the heart of an expansion policy doesn’t imply to lock up in a conventional way. On the other hand, for investing in the prospect of the local resources, familiarity, skills and resources to boos the inspiration and the sustainable progress. The gratitude and admiration for the assortment of the cultures also craft the circumstances for the common perception, discourse and harmony (Hezel, 2009).
As a senator, I believe that several global processes of money laundering have been associated with the drug dealers and the criminal involved in trading of narcotics. The economies of the processes involved in the dirty money are related to affect the diversity issues and several practices are disrupted by the traffickers. The apparatus and motivations related to money laundering are increased and propagated by the narcotics agents (Alasmari, 2012). The implications of money laundering process will be measured through the viewpoint of the financial institution and banks which don’t want to turn into a systematic periphery of laundering process, and there are numerous ways which may be executed by the institutions to avoid such transactions. There should be a huge penalty levied to the people who are involved in such activities. Though, it’s very tough to trap such market as the activities in this sector are done suspiciously and clandestinely. On the other hand, money laundering holds possible spill-over benefits which has been noticed in the past decades, such as the investments of the cocaine cowboys.
I suggest that all the activities should be assessed from both perspectives, which are ethical and financial context. This should be evaluated so that the dirty money can be avoided in the country and increase the growth.
The Foreign Policy consists of all connections of entity nation which states to other states. In the perspective of the globalization, especially originated in the 21st century, it is predominantly essential that it may be unsettling to the interdependence states. With the arrival of the worldwide society and globalization, an inference of the foreign policy of each nation-state are far greater. The study of Foreign Policy therefore has developed into a more critical stage of trade
The countries are affected by international policies and their rules or regulations may probably distract the trade and commerce of each country.
The policy related to the America continent leads to weakening the commerce , trade, incrementing the debt service, the responsibility suffers the flows of aid, and incrementing protection in the urbanized market economy which basically cause rigorous and creates issues of exterior compensation issues. The augmented cost of foreign borrows in the case of the exports is miserable. This would probably assist to throw several developing countries into debt crises (UN, 2003).
Severity programs laid down by the IMF as a requirement for the extension of the credit to fulfil the short-term BOP’s during the debt crisis. The growth was deteriorated and several social aims caused other issues related to employment, health, education, environment, and human settlements (Tehranian, 1996).
In the case of Africa, the policy affected and created:
- Atmosphere degradation, weakening agriculture
- Reduction in savings
- Increase in infant humanity, scarcity, and lack of education;
- Rising population growth rates; and
- Deterioration of Urban Infrastructure growth
Among all the crisis, the African crisis affected the working of other international economy situate out. The Sub-Saharan Africa’s financial generally rely on the low-income Asia’s developments in the world economy.
It has noticed that during the past few decades, several sub-Saharan countries have strongly hit and initiated the unfavorable trends on the whole (Hussain, 2011).
This shows that the trade and commerce of a country can affect the other country if they have correlation in any terms of exchange. In fact, the recent fluctuation in oil prices has affected the exchange rates, and augment the high interest rates. Over the last decade, the worth of main commodity, copper, iron ore, jaggery, rubber, timber, and cotton has also dropped considerably.
Alasmari, K., 2012. Cleaning up dirty money: the illegal narcotics trade and money laundering, Available at: https://www.economics-sociology.eu/files/15_MOD_Dirty%20Money_e%20new.pdf
Bank, A. D., 2010. ASEAN Economic Integration: Features, Fulfillments, Failures and the Future, Available at: https://www.adb.org/publications/asean-economic-integration-features-fulfillments-failures-and-future
Frost, F., 2013. ASEAN and regional cooperation: recent developments and Australia’s interests, Available at: https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/rp/rp1314/ASEAN#_Toc370112413
Hezel, F., 2009. The Role of Culture in Economic Development, Available at: https://www.micsem.org/pubs/counselor/frames/culture_economic_developmentfr.htm?http&&&www.micsem.org/pubs/counselor/culture_economic_development.htm
Hill, H. & Menon, J., 2010. ASEAN Economic Integration: Features, Fulfillments, Failures and the Future: Asian Development Bank, Available at: https://www.adb.org/sites/default/files/publication/28551/wp69-hill-menon-asean-economic-integration.pdf
Hunt, A. & Wheeler, B., 2016. Brexit: All you need to know about the UK leaving the EU, Available at: https://www.bbc.com/news/uk-politics-32810887
Hussain, Z., 2011. The effect of domestic politics on foreign policy decision making, Available at: https://www.e-ir.info/2011/02/07/the-effect-of-domestic-politics-on-foreign-policy-decision-making/
Intal, P., Narjoko, D. & Simorangkir, M., 2012. ERIA Study to Further Improve the AEC Scorecard: Investment liberlization and facilitation: ERIA, Available at: https://www.oecd.org/investment/investmentfordevelopment/46485493.pdf
Lallanilla, M., 2016. The History of the Green Movement. The Green Movement Has Been Going on for Centuries, Available at: https://greenliving.about.com/od/greenprograms/a/What-Is-The-Green-Movement.htm
Marston, K., 2014. Globalizatio _overview, Available at: https://geog2013tc2e.files.wordpress.com/2014/01/globalization_overview_byknoxmarston.pdf
Matthews, K., 2016. How Green Initiatives Can Benefit Your Business, Available at: https://articles.bplans.com/green-initiatives-can-benefit-business/#
Niblett, R., 2016. Brexit: The Reality, Available at: https://www.chathamhouse.org/expert/comment/brexit-reality?gclid=Cj0KEQiA6_TBBRDInaPjhcelt5oBEiQApPeTF3JUfpEEMgsswh_TKMpiztRnrr9Rv_kPChx0gGmEpw8aAg_t8P8HAQ#
Ornek, Y., 2004. Globalization and Cultural Identity, Available at: https://www.studienkreis.org/common/news/referat_oernek.pdf
Team, P. U., 2012. The Globalization Debate, Available at: https://www.polity.co.uk/global/pdf/INTR.PDF
Tehranian, M., 1996. Global communication and international relations: changing paradigms and policies. International journal of peace studies, 2(1).
UNESCO, 2016. Culture for Sustainable Development. Environmental and Social Policies, Available at: https://www.unesco.org/new/en/culture/themes/culture-and-development/the-future-we-want-the-role-of-culture/globalization-and-culture/
UN, W. E. S., 2003. Gathering a body of global agreements: NGO Committee on Education, Available at: https://www.un-documents.net/ocf-03.htm
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