The Effects Of Globalization On Contemporary And...

Globalization is the interaction among people, companies and governments of different nations. It is a process that is driven by international trade and investment but, is also supported by information technology (What is Globalization?). Large corporations have taken advantage of foreign markets by building factories in less developed countries and through using established marketing arrangements with foreign partners. A defining feature of globalization, therefore, is an international, industrial and financial business structure (What is Globalization?). In this essay, I am going to consider the effects of globalization on contemporary, developing and indigenous cultures. This will include looking at both the negative effects as well as the benefits of globalization on the world as a whole. Globalization is profoundly controversial. Some people argue that this international change allows poor countries and their citizens to develop economically and raise their standards of living. Others claim that the creation of an international free market has only benefited multinational corporations in the Western world at the expense of local enterprise and cultures and by the exploitation of less developed countries (What is Globalization?). Firstly, Globalization has had a large effect on contemporary culture. For example, technological development is as a big part of globalization and has transformed many cultures from subsidence farming to commercial farming, raising cash fromShow MoreRelatedAnalysis of Capital, inequality and injustice in Latin America, by Richard L. Harris817 Words   |  4 Pagesconcern to the extent of unlawful treatment such as conquering of land from indigenous people in most if not all third world countries. We have learned that most problems in the world are blamed on one word, globalization, but it takes several words to fix the ongoing problem of globalization and its affects. 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Indigenous Australians have been subject to policies and laws sort to convert them to integrate into the newly pronounced white country (FinlaysonRead MoreGlobalization and Its Affect on Racism1528 Words   |  7 PagesGlobalization and its Effect on Racism Racism, in the Oxford English Dictionary, is defined as Prejudice, discrimination, or antagonism directed against someone of a different race based on the belief that one’s own race is superior, and, The belief that all members of each race possess characteristics, abilities, or qualities specific to that race, especially so as to distinguish it as inferior or superior to another race or races. The essence of both definitions seems to be that specific