Impact of Globalization for Political Power - myassignmenthelp

Question: Write about theImpact of Globalization for Political Power and Technology. Answer: However, in stating the advantages of the globalization, the authors have not included the cost being involved for the business organizations to set up their facility in the developing countries. According to Jaumotte, Lall and Papageorgiou (2013), initiation of the globalization is having different demerits also. One of the key demerits being identified by them is the rising of inequality among the social class and among the countries. This is due to the reason that, according to the authors, developed countries are having most benefits from the globalization and they use it to exploit the resources from the under developed countries. According to them, due to globalization, developed countries with their superior political power, technology and capital are making the under developed countries their colonies. They have also stated that globalization is also leading to the cultural colonization in different countries. This is causing enhancement of the inequality between the countries rather than reducing it (Perez-Liantada, 2012). However, these authors have also omitted the benefits of the globalization for the under developed countries and how the economies of them are enhancing. Thus, both the supporters and critics of globalization are having one sided views. Critics of globalization are under estimating the benefits of globalization and supporters of globalization are under estimating the cost involved in the globalization. Reference Birol, . H. (2012). Globalization in historical perspective.International Journal of Business and Social Science,3(8). Jaumotte, F., Lall, S., Papageorgiou, C. (2013). Rising income inequality: technology, or trade and financial globalization?.IMF Economic Review,61(2), 271-309. Prez-Llantada, C. (2012).Scientific discourse and the rhetoric of globalization: The impact of culture and language. AC Black. Syed, S. B., Dadwal, V., Rutter, P., Storr, J., Hightower, J. D., Gooden, R., ... Pittet, D. (2012). Developed-developing country partnerships: benefits to developed countries?.Globalization and health,8, 17-17.