According to me there are 2 main
group which hugely benefit from globalization i.e., “top 1%” & “emerging
middle class” in countries like India, China etc. We have to look that the
income of “emerging middle class” has risen more fastly than “top 1%”
section. The “below poverty line” segment has also risen significantly in
It also suggests that continued
policy action is needed to ensure that prosperity can be truly shared by all,
that the gains of globalization are not captured by a “happy few”, but on the
contrary that all can take advantage of the opportunities offered by the
globalization process, including those who earn the least. At present 9/10 people
around the global, who benefited from globalization, are of “Asia.”
People from rural China, around 150
million has seen rise in their incomes at a rate of 2.5; urban & rural
people of Indonesia (40 million) had real incomes increased 2 times. urban people
in India, 35 million had 50 % increase.
The 3 big nations: The U.S.A Japan &
Germany. The U.S.A have experienced growth of less than 1% annually. In case of
Germany, it was 4% and Japan showed “negative” growth over the past decade.
Sure enough, the world as a whole is getting a whole
lot richer. In the past decade alone, the global economy has doubled in size.
The free market system has become distorted to the point of virtual collapse.
There’s a simple, if challenging answer: by returning to the way we were and
doing more things locally. And that starts with washing our own sprouts for the
Christmas dinner table.
But most of the benefits of this explosion in activity
have gone to the developing world and, in the West, the already rich, highly
educated and talented. The wealth divide has widened to record levels almost
everywhere. Temporary trade imbalances are another big concern for the west
nations. There is conflict between interests of political leaders and citizens
of the west, to say that if the process of globalization is not stopped at the
right time, their economies will completely collapse and major part of the
people will lose their livelihood.
It is a known fact that one’s income
depends on where one lives. In today’s world the role of social class is not
greater than when compared to place of residence. The message is clear either
one should develop their own country economy or should settle in a growing /
Yes, I agree that Globalization has played against the
Towards Emerging Countries
Globalization has created
a new way for development for the emerging countries. The main impacts of
globalization are innovation, transfer of technology, exploring new markets, enhanced
the working process and standard of living in emerging nations.
Globalization has acted as a base for integration among different
nations and their economies. It had provided an opportunity to own assets in
other nations. The loan facility has also been developed across banks related
to different countries. The banking system was made easy for huge corporates
and MNC’s. Governments also stated taking loans from different nations.
Ex: American government being in millions of debts to china which is an
Due to globalization in the Asian & Latin Markets the pop culture
has developed in these countries. New music genres are explored by the artists
and being played in these nations. The way of living and certain cultures has
been adopted due to globalization. Women are empowered in economically backward
nations both in terms of education and way of living life. English has become an universal language and
plays a vital role in development of business overseas, not knowing English
language is considered and termed as “backward”. Communication has changed with
the excessive development and usage of phones, skype, whatsapp etc. The sense
of “individuality” has been growing in these emerging/developing nations.
The word environment basically refers to anything & everything which
surrounds us. In this industrialized & globalized world numerous business
opportunities have materialized for the different businesses segments in the
world, which increased the profits and revenues of different nations. On, the
other hand it resulted for “emission of harmful substances”, that have
increased & caused for the depletion of earth’s protecting layers like a
ozone layer. These acts led to ban on harmful substances emitting factories and
practices around the world. To tackle this present-day companies are adopting
to environment pro practices and systems. Many international treaties are being
signed by different nations.
The biggest achievement of globalization is technology transfer between
nations. Innovation has taken the front seat of many nations to develop
exponentially in scientific, business and military wise. Reengineering of many machines, cars has also
developed at high rate and also helped few nations to grow at high rate, like
Due to increase in the existence of globalization many international
laws are exercised. Few global organizations have come up to maintain and
protect the principles worldwide. Ex: The United Nations, International
Monetary Fund, World Bank. Some powerful countries have exercised their
power on developing nations by providing them aid and using them in times of
Education and Health Systems
Education in emerging
countries have developed over the years. The skill sets of the people has also
developed and made them to achieve more qualified jobs and raise their income. Health
is another important factor which gives idea about the living style and habits
of its own people, it will help to eradicate and tackle diseases which are
disturbing and troubling the world. Due to globalization medical and sanitation
facilities have developed in these developing nations. Governments are
implanting many plans and policies to develop education and health benefits for
not only speeds the things up but also revamp the existing behaviors of people
and nations. In case of “western” countries the people who belong here wants to
go back to the times of 1980s, where world was much certain.
The true benefits of globalization can be accepted by everyone if there
are standard set of rules and regulations. If they don’t maintain the order,
there will be imbalances created, which wil give rise to conflicts among
nations, which drastic effects can’t be bared by any nation.
Globalization shouldn’t be merely about
transfers of money / power from one nation to another. Instead, it can be in
the form public education, job creation, infrastructure development, improved
health care. By following these and taking concern and addressing the problems
of middle class segment of western society and also investing in more emerging
and frontier markets, everyone can enjoy the true benefits of globalization.