Globalization has created as many losers as it has winners

Document Type:Speech

Subject Area:Social Work

Document 1

Works by two scholars, Grinin and Sheffield, (2013), state that globalization is the growth of the sizes of social systems and the increase in the complexity of inter-societal links. These definitions can be closely related in that they all try to describe how globalization may be considered as a process of connecting the past, present. And the future with the aim of closing the gap that exists between the past and the future on systematic aspects of globalization and their single and joint impacts they have on globalization. These aspects are political, economic, geographical, ecological, social, cultural, ethnic, religious and historical processes. Globalization has impacted on these aspects in various ways, for instance on economics; globalization has made it possible for countries to increase trade relations something that has seen the world economy experience growth and development.

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Due to this, economies of developing countries are impacted negatively and as a result there is widespread of poverty and very slow development growth. According to post on Forbes Magazine by a writer on manufacturing and government policies, more than 161 countries in the world are subjected to VAT on imported goods which are high as 21. 6% in Europe and a country like the U. S. does not have VAT on imports (Collins, 2015). This is whereby industries in the first world are striving to produce and sell as many goods and services at the lowest price possible to edge other competitors by making more profits. Such companies take advantage of extreme poverty conditions experienced in developing countries by producing and selling goods at a very lower price.

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In developing countries they are assured of cheap labor services as compared to their country where labor services are quite expensive. The expectation of individuals in developing countries is that they will benefit from companies set in their countries by developed countries; however this is not always the case. An example of a company that has benefited from this trend is the H&M Company which is among the leading manufacturers of fashion clothes at affordable prices. These emissions cause global warming to speed up and impact negatively on our overall existence. A report on OilPrice. com by Tverberg, (2013) argues that carbon dioxide emissions will increase if the world fails to stop burning more coal and depending on other fossil fuels.

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