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GLOBALIZATION
The increased movement of people, goods, capital and ideas that occur due to increased economic integration. According to (OECD) globalization is defined as:
An increasing internationalization of markets for goods and services, the means of production, financial systems, competition, corporations, technology and industries.
TECHNOLOGICAL DEVELOPMENT
IT is a driving factor in the process of globalization. Advances in technology are one of the main reasons that globalization has escalated in the past decade. Knowledge & high tech industries are the fastest growing in the world today and for countries to compete.
Many argue that this is increasing the power of the MNCs in international markets and weakening the bargaining power of developing countries.
According to (ITU) World Report: The total amount of users reached more than 2.7 billion (39 percent of the worlds population) by 2013.
The industrialized countries are the source of the technological revolution that facilitated globalization but that revolution also has negative effects on the rest of the global economy especially LDCs. Some of the poorest countries Africa, may get poorer. in the world especially in
Decisions made by the economic powers (e.g. U.S) are not in the interests of the developing countries. Super tankers have increased the scale of trade between countries. Negative side of transport technology (e.g. Afghanistan, Iraq &Egypt).
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Following are the some contemporary issues: Financial instability Cut throat competition Urbanization & industrialization Bioengineered food Global inequality Nuclear power
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Global digital divide Climate change Forced migration Communicable disease Westernization Global justice
1. FINANCIAL INSTABILITY
Lack of infrastructure. Unaware of technology. Lack of resources. The developing countries now spend $13 on debt repayment for every $1 it receives in grants. Financial instability problems. The most obvious one is the economic hardship following the resulting crisis, which particularly hurts the poor.
2. CUT-THROAT COMPETITION
Opening the doors of international trade has given birth to intense competition. New technology increase competition. Disparity issues Technological improvements change economies and can lead to unemployment.
Urbanization as poverty driven rural-push migration without concomitant industrialization. Most push migrants settle in slums & in information sector
4. BIOENGINEERED FOOD
Loss of nutritional value. Reduction of the efficiency of antibiotics. New viruses could evolve from the mass production of Bio-engineered food. The more that gene technology is used, the worse the environment will become. Some countries will not be able to afford.
5. GLOBAL INEQUALITY
Wealth concentrated in the developed world Poorest 40 percent of global population5 percent of global income Richest 10 percent54 percent of global income Global markets have exacerbated this problem: The gap between rich and poor is growing.
6. NUCLEAR POWER
April 1986 - Explosion at Chernobyl Nuclear Power Plant 31 people died in the immediate aftermath of the explosion. An area of 1,00,000 Sq KM is uninhabitable for 20,000 years .FOREVER. Around 1,00,000 people evacuated from 20 Km radius area. since 3600 BC, there have been 14,531 wars resulting in 3 billion deaths over the years. Peace prevailed for a total of only 292 years on earth, about 5% of the time.
It is the global disparities b/w developed & developed countries in regards to access to computing and information resources. It causes a significant problem in poorer nations. Cannot afford to invest into technology. This puts these countries at a competitive and economic disadvantage. Only 7% of the world's 6.4 billion people have had access to the www. It is basically the north-south divide of "northern" wealthier nations and "southern" poorer ones. The Rich getting Richer at the Disadvantage of the Poor
8. CLIMATE CHANGE
Global climate change has already had observable effects on the environment. Because of this change global warming & dimming occurred.
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Global climate change has already had observable effects on the environment. Because of this change global warming & dimming occurred.
Global Warming: is defined as the increase in the atmospheric temperature. Its effect are Sea level rises in the end century. Storms come heavily Less fresh water available
9. FORCED MIGRATION:
It refers to the coerced movement of a person or persons away from their home or home region.
Causes:
- Natural disaster or manmade disaster - War & war against terrorism - Fleeing persecution (for political, social, ethnic, religious reasons) - Slavery
Effects:
- Leads to increase crime rate - Unemployment - Low standard of living
A disease that can be communicated from one person to another. (Like hepatitis, chicken pox, AIDS, flu etc). Globalization has increased the spread of infectious diseases from South to North. These disease are causing high mortality rates especially in low and middle income countries because of less education and scarcity of resources and technology.
11. WESTERNIZATION
Global justice is an issue in political philosophy arising from the concern that the world at large is unjust Global Justice For All: Clean air, clean water, food, health, educational system. Respect for the Earth: Respect the rest of creation and the environment as well. Abundance and Freedom are Possible: Liberty, truly free markets, and equal justice.
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