Aspects of Globalization

Globalization creates aggressive competition pressure on companies to lower prices. This poses great benefits the final consumers. International trade has led to many industries providing a wider range of products to the economy. This has been facilitated by the aspect of competition where many companies have realized that they are not only competing with others from their home states but also those beyond their national boundaries. Competition has led to the diversification of the economies available. The consumers in the countries are now in a position of acquiring commodities at relatively competitive prices and of high quality.

Industries have further noted that the production of substandard goods is not an option because consumers are now rational and more informed hence can shift from one brand to another at the slightest provocation of poor quality. Globalization has increased the availability of goods and materials necessary to the individuals. According to the micro economic laws of trade, increase in supply of a given item leads to lower prices attached to it to attract customers, and the inverse holds true. Customers are bound to getting advantaged due to the variations in price and brands of items. (Rantanen, 2004)

Environmental assessment also ties globalization to the climatic change and the consistent environmental degradation that is ongoing in the world. This has led International Organizations like the U.N to call for international conferences to discuss how countries will reduce the emission of green house gases into the atmosphere for instance the climate conference in Copenhagen that was held in 2009. Cultural integration has also led to erosion of various cultural practices. This is a factor that has been used as the critical point in the castigation of globalization by its critics.

In answering the question as to whether I agree with Friedman about globalization, I am affirmative. As an ardent supporter of globalization, Friedman argues that globalization should also be adapted in order to include local cultural practices so as to avoid the erosion of local cultures and practices. In his argument concerning the stability of the U.S.A I contend with his point of view because by becoming energy independent, U.S.A will be able to influence the adapting of democracy in the Middle East. This is to the extent that the authoritarian rulers will stop using the excuse of protecting their natural resources from foreign powers like the US. The current revolutions in the Middle East have been caused by globalization through the social networking sites and not through this factor though…thus this is a point to note. (Franco, 2007)

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