Globalization - Good or Bad Essay Example | Topics and Well Written Essays - 1000 words - 1

Globalization - Good or Bad - Essay casingIn terms of International Trade, the rootage has described globalization as the platform that sets a aim playground for both rich and poor countries. The author has also affirmed the slight developed realm can only improve their situation through the assistance of World Bank and the International fiscal Fund. I agree to a greater extent the assertions of the author except at some hardly a(prenominal)er issues which I total disagree. The World Bank and the International M nonpareiltary Fund find been described by the author as the pillars of global governance systems. The author overlooked the power of sovereignty of states, democracy, and the international justness system. The claim that developing countries can only improve their situation through these two global financial institutions is non accurate. Wallerstein (2004) pointed out that the World Bank and the International Monetary Fund is training poor countries to compute on them. Developing countries have difficulties servicing the loans they receive from these organizations. They find themselves overburdened by the huge stakes rates and end up borrowing again from separate sources including internal sources. This creates a scenario similar to the one of digging a hole to bury another hole. The problem still remains. In this regard, I vox populi the two institutions as contributing to the slow growth of developing economies and not as the sole line to their economic prosperity. Multinational companies in developing countries have been highlighted as better paying compared to the local firms and that remote firms are not really oppressing their workers. Hurst (2008) claim that multinational companies are one of the social oppressions in less developed and poor countries. They offer jobs to locals at a higher wage than local firms, but this should not justify the poor, working conditions, job insecurity, or the prolonged hours of work often witness ed especially in the manufacturing industry. The author claims that if the workers were not prosperous with these companies then they would leave. Hurst (2008) explains that is huge labor force in developing countries and very few job opportunities which leaves many workers to persevere where they are. The reason, therefore, why these workers continue working for the foreign firms is not because they are happy but rather because they have nowhere else to look for a livelihood. On the issue of foreign companies world nothing compared to the government, and not being able to raise an army or taxes, the author failed to put into post that, at times, some senior government officials usually have personal interests in these companies. Revesz (1997) stated that when it comes to crisis where multinational firms are being accused of various reasons, the states cannot be trusted in the way the matter is handled. He observed that despite huge negative publicity and accusations from both th e media and the public, the government remains silent and waits for the soar up to settle. The international trading system has been implied by the author as unbiased against developing countries. This whitethorn be true as far as international trade laws and regulations are concerned. But, on the other hand, according to Wallerstein (2004), there is a more serious issue of trade imbalance whereby developed countries have an upper hand due to their economic strength advantage, superior