Currently, many countries, business, and people are increasingly becoming connected with each other as a result of the fast advancing technology, transport and other amenities which make it easy for people to move around and exchange products and information. This is essentially what globalization entails. Despite globalization contributing to the advancement of economies, government involvement through regulation diminishes prosperity by limiting growth. Some countries in Latin America, Africa and the Caribbean have not been specifically keen to engage in free trade but have ended up being bullied into it by more advanced economies. Also, while the phenomenon presents significant advantages, it is not free from drawbacks. Globalization presents a challenge to national sovereignty, dilutes national cultures and also present host governments with limited ability to affectively monitor Corporate Accountability of large and powerful Multinational Companies (MNCs).
Sovereignty defines the right and power of a nation to act and such independence in developing economies appears to have been affected by globalization. It is apparent that globalization infringes on the national sovereignty of a developing economy. For instance, countries in the developing world have been forced to lower their tariffs and regulations and even privatizing formerly run state businesses all in a bid to attract financing from transnational bodies such as the International Monetary Fund (IMF) which provides them with low interest loans bearing ‘strings attached’ ( CrashCourse, 2012a ). As a result, advancing economies have increasingly become dependent on the western world. Also, the idea of taking up loans leads them to be susceptible since they are forced to undertake their own businesses in the manner that their benefactors deem fit. Likewise, developed nations have also been affected by globalization. For instance, initially commodities were often produced for domestic consumption, but with the advent of globalization, western economies are relying on African countries for commodities such as flowers which they would otherwise have produced ( CrashCourse, 2012b ). Similarly, the existence of the World Trade Organization (WTO) has led to the replacement of the national government with an unelected corporate backed government ( Deese, 2012 ). This has an implication of forcing both advanced and developing countries to comply with policies and regulations that impinge on their sovereignty.
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Globalization has also had a significant effect on the cultures of people in different countries. It is evident that individuals are fast adopting cultures from foreign nations. Such dependence is likely to be positive in the sense that individuals get to learn new things and adopt them in their way of life. The resultant effect is also expected to be negative where undesirable practices end up being adopted. For instance, due cultural blending, some people see culture today as relatively Americanized. A movie like Friends has been viewed in more than 100 countries worldwide ( CrashCourse, 2012a ). This depicts the level of influence that globalization has had on different countries. People often adopt what they see and listen to. Dilution of culture is further evident in the case where currently there is greater availability of contraceptives which are readily available for the developing economies which previous held no culture of using the birth control measures ( CrashCourse, 2012b ). Technology has, on the other hand, driven families apart. Unlike before, parents and children spend most of their time apart “in front of their individual screens, sharing fewer experiences” ( CrashCourse, 2012b ). In this case, human beings are increasingly becoming less social. This could be positive in the sense that individuals can now engage in safe sex practices. It is, nevertheless, deemed to be negative whereby people are now able to experiment sexually with multiple partners and this is an element that has contributed greatly to the rise in divorce rates within most countries ( CrashCourse, 2012a ). Another example where culture is diluted is on the situation where currently there is minimal cultural diversity since there are fewer languages spoken ( CrashCourse, 2012a ) The situation results from the current generation relying more on foreign languages and less to those spoken in their own cultures. While further alluding to the positive implications of globalization on culture one can, for instance, note that individuals now have access to a diverse cultural experience which ranges from: Bollywood movies, Swedish hip-hop, Brazilian soap operas, football highlights to more novels being translated to other languages ( CrashCourse, 2012a ). All these are positive elements of cultural globalization.
Due to globalization host governments now have limited ability to affectively monitor Corporate Accountability of large and powerful Multinational Companies (MNCs). It is apparent that political freedom “especially the freedom to participate in and influence the government has been on the rise” ( CrashCourse, 2012b ). Certainly, the greatest effect has been on the negative repercussions of corporations on the environment which authorities have for long found hard to control. An example in this case involves cutting down of trees to pave way for the construction of new buildings and additional land for cultivation ( CrashCourse, 2012b ). Also previously, in the early 18 th century, military strongmen were actually in control of the government in most nations ( CrashCourse, 2012b ). In a majority of nations currently, however, governments are controlled by individuals in charge of Multinationals. This form of control has led most MNCs to avoid Corporate Accountability in scenarios where they are liable. The MNCs have also had a significant impact on the reduced tariffs in both the host countries and other foreign economies ( CrashCourse, 2012a ). Such change occurs with little regard for what the government can do to disapprove such an occurrence. Large companies represent a cultural, government and economic force in the globalized environment. Based on this, they possess the ability to exert political influence in a bid to exert political influence as well as shape public policy ( Deese, 2012 ). There vast amounts of profits and many branches they possess globally offer them the competitive ability to sanction such regulations. CrashCourse (2012a ) also provides an example of cotton production which is cheaper in the United States compared to other developing countries. This is a scenario which has been enabled through government subsidization. As a result, less cotton is exported from the United States compared to other countries, yet this is not dependent on the quality. It has further been argued that minimal government interference is necessary in order to ensure that an economy flourishes ( CrashCourse, 2012a ). Based on the observations made, it can be logical to argue that government involvement and autonomy is necessary in order to ascertain that Corporate Accountability is maintained.
To sum it up, it is apparent that the pros of globalization have outweighed the cons for the plurality of world citizens. For instance, there is now a possibility for people to move around the world with ease due to the reduced cost of travel and also as a result of the interconnectedness between people in different countries, which makes communication easier. Cultural diversity has also been enabled through globalization. There are increasingly more people in foreign economies who are not native inhabitants. As a result, people have managed to speak different languages from those in their cultures. Moreover, books have also been translated into people`s original languages making it easy for them to read and understand. It is further apparent that globalization has advanced the medical world by involving interaction between the medical fraternity in different countries making it possible for increased medical intervention to some of the world`s deadliest diseases. One can also not overlook the increased number of jobs that have emerged as a result of globalization. The services sector is now more vibrant than ever before. Finally, it is now conceivable that through globalization the world will manage to attain significant milestones in the future.
References
CrashCourse. (2012a, Nov 2). Globalization I - The Upside: Crash Course World History #41. [Video]. YouTube. https://www.youtube.com/watch?v=5SnR-e0S6Ic
CrashCourse. (2012b, Nov 9) Globalization II - Good or Bad? Crash Course World History #42. [Video]. YouTube. https://www.youtube.com/watch?v=s_iwrt7D5OA
Deese, D. A. (2012). Globalization: Causes and effects . Farnham: Ashgate.
