Question

What is globalisation? Discuss arguments in support of globalisation. Contrast these arguments with the central aims of sustainable development in relation to growth, consumption and the natural environment.

Answer 1

Globalisation is a process of interaction and integration among people, companies, and government worldwide. It helps to devalop international influence or start operating on an international scale.

Basically, globalisation refers to an economic system in which raw materials, manufactured goods, intellectual property, and financial transactions flow freely across international borders under the supervision of an international trade authority. I also includes homogenisation of language and cultural identitythat accompanies the flux of material, ideas and money.

Arguments in support of globalisation basically means advantages or benefits of globalisation. So, here are few advantages or benefits of globalisation:-

1. Increased free trade and communication between nations.

2. Increased employment opportunities as more and more companies are building businesses in other countries.

3. More opportunities to devalop poor areas of the world.

4. Globalisation eliminates currency manipulation.

5. Building better relationship with different countries through international trade.

Because of globalisation, it is possible to import such things which are scarce in one country but are in surplus in other countries. like this way, consumption of different types of items are possible.

In relation to growth, globalisation helps in expanding businesses in different countries.

With increased interactions, comes the growth of international trade, ideas, and culture.

Inrelation to natural environment- Globalisation has far reaching effects on our lifestyle. It has led to faster access to technology, improved communications and innovations. Increased consumption leads to increase in the production of goods.