Globalization alludes to a process representing general integration and interaction of cultures, investment, international trade, and information technology. A combination of these aspects implies a seamless movement of people, goods, and services as economies open up, hence a concomitant increase in trade across nations. Despite the perceived benefits of globalization, it is similarly bedeviled by shortcomings, which undermines its effectiveness in the eventual economic restructuring. Therefore, the paper takes an in-depth analysis of the arguments against globalization by examining relevant literature material. In essence, globalization is responsible for the current economic crisis since it fuels the emergence and dominance of transnational corporations, particularly in the Third World countries where they wield massive economic leverage while influencing political decisions https://manyessays.com

Arguments Against Globalization

Market liberalization is a common feature of globalization, which is still an offshoot of the capitalist economy. Proponents of globalization view it as a crucial aspect of value creation and addition. Economic diversity is constructed around the significance of value addition. However, Harvey observes that globalization is a capitalist agenda disguised as market liberalization because of its resolution to strengthen and meet the imperialist’s economic interests. The existing economic disparity through imbalance of trade between countries championing globalization and its recipients explains the agenda behind it. The hosts in African and Latin American countries are victims of the exploitation hidden in the economic liberalization narrative. Harvey further questions the lack of greater economic reorganization in the recipient countries, mainly in Third World. It is baffling that those countries are not realizing significant economic growth as their western counterparts even despite years of embracing globalization.

Globalization is an ultimate ignition of transnational corporations and their economic and political ties in the Third World countries. Through the advancement of the perceived benefits of globalization, Arrighi describes the corresponding power rise of transnational corporations. These organizations are modern-day bargaining agents of the imperialists. However, their power threatens to restrain the nation states from their traditional roles of negotiating with other countries. Furthermore, Arrighi points out that the contemporary world involves “imperial countries being replaced by transnational corporations”, which quest for profits betrays their paper ideals. The global economy is manipulated and controlled by a few individuals running the transnational organizations. Through globalization, imperial countries have well-maintained platform to sell their ideas to the highest bidder. Unfortunately, those bidders are the Third World countries struggling for economic growth.

Globalization presents a single choice for countries while giving up their sovereignty for embracing the western ideals. Harvey (2005: 94) argues that the biggest problem of the globalization despite its perceived benefits is its interference with sovereignty and national values. Giving up sovereignty, a symbol of independence, is synonymous to selling its national values and losing its identity for developing countries. Globalization is “a destructive interruption in the political and social dynamics binding the society”. Through globalization, countries are compelled to give their social and political powers to international organizations in the name of improved living standards and free markets. The quest for economic growth and development is often a driving factor for the ultimate weakening of sovereignty or its entire erosion.

Globalization gives a greater leverage to the international organizations at the expense of the diminishing the role of local institutions. Furthermore, such companies also play their crucial role in influencing political decisions, particularly in such democratic activities as elections or giving voting rights on the international stage. Graeber (2009: 369) contends with the idea that globalization has a strong influence on the Third World countries because of their lack of political, social, and economic identity making it an easy target for multinational corporations. For instance, such corporations only views the mentioned countries as dumping sites for sub-standard goods. As a result, it undermines the growth of the local industries, thus perpetuating a culture of borrowing and foreign aid.

Globalization is a result of integration and interaction between people all over the world. The current global trends are seen through President Donald Trump’s ‘America First’ policy in the United States and through the Brexit in the United Kingdom; they undermine the basic building blocks of globalization. It aims to forestall protectionism at the expense of free movement of goods and people. By choosing to concentrate on the affairs of the respective countries, two similar ideologies set the global stage free from domination by a single country. Specifically, the United States and the United Kingdom are the most influential countries implying that the majority of transnational organizations are based in within their territories.

Choosing an isolationist policy as advanced by President Trump through the ‘America First’ policy hinders the influence that these organizations have on the international front. Apparently, this explains the emergence of China as a strong opponent of the western manifesto which anchors globalization. In essence, the power of globalization in influencing political and economic decisions all over the world through multinational organizations is expected to be drastically reduced as the Brexit and Trump’s pursuit of Americanism take root in the contemporary world.

Personally, I believe there is still room for Britain and the United States to pursue economic policies that will help the rest of the world even though their recent overtures strongly indicate an isolationist agenda. For instance, they should not prevent either American or British transnational companies from setting up their bases in other countries. International trade is two-way, and while jobs are lost by the parent country, it still receives revenue and profits since its companies remit funds to their host; for instance, drawing legitimacy directly from people through modern tools. Learning from such social media applications as Facebook, the United States and Britain can develop their alternative application with multiple language functionality which will engage people directly.

Globalization is a precursor of the modern-day imperialism since economically stable countries take advantage of the Third World ones in order to influence their economic and political decisions. Next, globalization provides a platform for transnational corporations to intervene in their host countries’ affairs. However, such interventions are geared towards strengthening the grip on the economic aspects. Moreover, the assumption that sovereignty is lost while pursuing globalization is similarly constructed on the assertion that it is a safe net for the realization of economic growth and development. In reality, the countries are forced to give up their sovereignty in the name of improving living standards, which cannot be materialized. It is impossible to understand the benefits of globalization by turning a blind eye to the issues of sovereignty loss, increasing power of transnational corporations, political meddling, and false promises of better living standards, economic growth, and development.