Is Globalisation an inevitable process?
(Certain to happen, unable to avoid or prevent)
Globalisation is difficult to identify today whether it is an inevitable process or not. The answer can be either yes or no. According to the International Economy website, the "system" in fact refers to the facets of globalization that are being promoted by economic interest groups that see the process of global integration and the expanding network linking every portion of the globe as one that can benefit them and others. They seek to promote its progress and work to advance laws, policies, investment flows, the creation of new infrastructure, and other steps that will link markets, open them, connect people, and remove barriers between social groups. (International Economy, The, 2004)
Globalisation is a set of priorities chosen by certain political and economic leaders to achieve a centralised economic model in which global corporations act as the engines of economic growth (Globalisation, 2008). The future of globalisation will depend on decisions taken by our societies individually and collectively. Globalisation can be seen as a threat. It could be weakened if the world’s fiscal and current account deficits lead to disruptions in global currency and capital markets. The soaring transport costs may lead to a reverse of globalisation. Currently, the high costs of transporting goods and the costs of tariffs are creating a barrier to the global trade. (Rubin, 2008)
The free trade at all costs is leading to the over use of natural resources, more pollution as we produce and consume more, and greater injustices on both amongst and within countries. The global trade system often does not consider societal benefits. For example, American first class beef are flown to Hong Kong in an approximately 16 hour’s flight.
For the merging market countries such as China, India, and Mexico, economic development, driven by internationalisation, has also led to dramatic progress....