Globalisation has made a great impact in the world by helping businesses, technologies and cultures spread throughout the globe. Today there is 12 times more world trade in goods and money than there was in 1945. (Globalisation and trade, 2001) While this can be considered as fact, there still remains a dispute about whether a global marketplace will be beneficial to everyone. Some people believe that globalisation does have the potential to create many opportunities for growth in the world, while others argue that it will increase the opportunity for the developed countries to take advantage of the developing countries as well as reduce cultural diversity to a monoculture. In the article, “India in the face of globalisation,” the author agrees to the negative aspects of globalisation and states that ‘globalisation has to be combated, tamed or at least given a more human face.’ The following essay will discuss this issue and focus on globalisation in terms of how it affects both trade and culture in today’s world.
There is no doubt that trade will create both winners and losers. Not all countries will benefit from trade, especially those that lack good international competitive skills. If a country does not benefit from free international trade, then it is more likely to induce a form of import control or a measure of protection. (Globalisation and trade, 2001) Protection such as tariffs may help prevent unemployment in certain parts of the economy, but the consumer will be disadvantaged in paying higher prices. The best solution would be to subsidise investment in certain parts of the country where the consumer would not suffer.
The author states that globalisation has increased unemployment and reduced the quality of jobs in many developing countries, namely In ...