Challenges Of Localisation And Localization

The increasing interdependence of world economies affects the standards of living greatly, but it can affect it positively. The standard of living is a measure of access people have to goods and services across the world. Quality of life is the conditions in peoples lives which is perspective. This paper will explain the importance of globalization in the developing world and how it can lead to open markets, taking millions out of extreme poverty and overall improving the standard of living across the world.

55). This is because things like a small flood would effect croplands differently than an urban center. A crop my actually benefit from silt deposits but the New York Stock Exchange would not. However, when disasters increase in scale they almost always have a significant impact on the economy (World Bank & United Nations, 2010, p. 55). Unfortunately, even though these impacts may be short-term there are third order effects on the economy. After Hurricane Katrina many areas were completely abandoned but many more were bought by developers pushing out the lower income populations, completely changing the local economy. This also highlights the different effect that disasters have on different demographics. As an example, the economies of developing countries are effected more by disasters then those of developed nations (World Bank & United Nations, 2010, p. 56). Although this may be because of population density or lack of infrastructure, it shows that demographics as well as the disaster itself have influence over the impact on local economy and

That this was also the decade in which globalization came into full swing is more than a minor inconvenience for its advocates” (Rodrick). If globalization is supposed to present an advantage to developing countries, why have there been so many setbacks? Indeed, both sides will have its winners and losers regardless of which side of the development coin they live on, but for the most part globalization has lifted millions out of poverty, improved the standard of living, and increased life expectancy rates all while keeping developed nations relatively competitive to their developing counterparts. Globalization’s value is that it seeks to create an economic equilibrium in the world, where parties are free from barriers and can benefit from one another through a more efficient allocation of resources. This allows all participating nations to contribute to an integrated economy and where all nations willing to embrace globalization have the potential to benefit. Regardless, the path to successful integration to the global economy has not always been easy. There is contention towards globalization as some argue that it is detrimental to developed nations, while many developing countries that were forced to hastily open up their markets and integrate failed. However, if implemented properly, globalization has proven that it can benefit all parties involved and that the potential gains outweigh the losses.

For individuals in very poor and economically unstable countries, globalization tends to do more harm than good. Through the economic, political and cultural examples stated above, globalization has not aided these countries climb out of poverty, develop an influential government or have a strong cultural identity, in fact, it has done the exact opposite. L’Huillier quotes Charles Darwin, “if the misery of our poor be caused not by the laws of nature, but by out institution, great is our sin” (2017 381). The business model that globalization suggests is an unattainable utopia for those in developing countries. These traits of poverty and war have always existed yet, many of today’s countries are the way they are because of the models that are favored and paraded under globalization

Globalization is not a unique phenomenon in the 21st century. What is unique about our experience of globalization, though, is the accelerated speed in which globalization has propagated. At a dizzying speed, globalization has left parts of the world more affluent than ever whereas other parts of the world are still swept in vertigo, unable to fully garner the benefits it offers. Despite current polarized experiences and the tradeoff between domestic politics and globalization, the overall results have been sweepingly positive as globalization increases equality and catalyzes the economic development when combined with the active roles of the states in creating the institutional practices conducive for growth.

The insurgents of globalization are exacerbating income inequality, within developing and developed nations. One of the most powerful country’s in the world the United States an Industrialized nation are allowing large corporations to seek maximize profits without regards for the local

In many ways, Bill McKibben's work of non-fiction, Deep Economy, offers an antithesis to globalization. Whereas the founding principle of globalization is to make processes for commerce international, thereby reducing the world to a single 'global village', McKibben largely advocates the opposite approach within this manuscript: localization. In fact, the author implicitly and explicitly states that globalization is producing a number of noxious effects that can only be rectified by localization. The international and national economies that globalization is based upon is not only slowly draining monetary resources, but also the very fostering of globalization via remote communication (such as the internet or wireless devices) is actually serving to alienate people from those who they are closet to their neighbors. Within Deep Economy, however, the author posits the viewpoint that a monetary approach based on local economics can not only conserve what remaining natural, cheap sources of energy that are still left on the planet, but also create a true sense of community that can empower and ultimately bring fulfillment to the lives of the people who participate in it.

At a meeting of the Mayors' Task Force on Climate Change, Disaster Risk and the Urban Poor in April 2010 in Copenhagen, participating mayors and the World Bank agreed to undertake case studies in four cities – Dar es Salaam, Jakarta, Mexico City and São Paulo. The main aim of these case studies was to take stock and learn from what is happening with regard to urban poverty, climate change and disaster risk management in these cities. The key findings from this report are summarised below:

The main focus in this article is to illustrate how globalization has improved the lives of many in developing nations. Globalization in of its self is the trading of goods and services of a local economy into an integrated global economy. Technological advances have made this practice more feasible with in the last 50 years. The major milestones were the development of the internet and increased transportation technology. These two advances made the world coined "flat" and set the stage for higher living standards.

Disaster from natural, conflict or technological sources threaten people’s lives and health; limit and increase uncertainty of people’s livelihoods and other socio-economic activities. Hazards, as well, severely undermine economic access and competitiveness and compromise governance system in any urban setting. The world's big cities are rapidly becoming more exposed and more vulnerable to natural and man-induced hazards and disasters. Hazards and disaster destroy both natural and built environment, contributes to increase in the number of displaced persons; erodes development gains and limit structural stability of the urban centres.

Globalization is the proximate and multidimensional set of political, economic, social, and technological integration around the globe. The increasing interconnectedness among countries can be seen through the prism of globalization. Essentially, the lives of people living in distant cities like Bangalore and Silicon Valley are brought closer as a result of this phenomenon. Drivers of this adjacent include; the expansion of trade, technological exchange, labor movement and investments (Stearns 2017). The discourse of globalization encompasses several multidisciplinary themes. The paper, however, concentrates on the economic factors, “which, entails the closer economic integration of countries of the world through increased flow of goods, services, capital and even labor.” (Stiglitz 2007: 4). The paper focuses on economic globalization and elucidates whether the globalization has reduced poverty and inequality or had reproduced the reversed implications. Meanwhile, the paper reveals if the developing world has benefited from the set. This seems to be the central question that policymakers, development economists, and politicians have been grappling with for years. The paper is presented in three parts. Part one reflects on the historical context of the problem statement. The second part compiles literature and juxtaposes with cases to corroborate the globalization-poverty-inequality triangle. Finally, the conclusion represents the author’s viewpoint on the

Globalization has failed on its promise of making the playing fields even between countries. Globalization has failed because in certain countries the life expectancy rates are decreasing. Many people have seen their jobs being demolished due to outsourcing. Globalization has affected people's lives since they lost their jobs. They are feeling powerless, because when they lost their jobs they won’t be able to pay their bills. When you can’t pay your bills, late fees will be added to the amount of money you owe. Due to this you can lose your home, this affects life expectancy rates because if you lose your home, you won’t be able to live on the street for a long time. This situation will most likely occur in developing nations than developed nations because developed nations have a higher advantage. Globalization was created to improve people’s lives, but it did the opposite. Globalization is now destroying people’s lives and decreasing life expectancy rates.

Globalization which gives us all access to each other 's special skills and products is turning the world into an integrated economy. To poorer countries globalization brings the chance to sell their relatively low cost labor onto world markets. It brings the investment that creates jobs, and although those jobs pay less than their counterparts in rich economies, they represent a step up for people in recipient countries because they usually pay more than do the more traditional jobs available there. On the other hand, to people in richer countries globalization brings lower cost goods from abroad, which leaves them with spending power to spare and a higher standard of living. It also brings opportunities for productive investment in

Globalization became a worldwide phenomenon with the growth of market economy and information technology. With globalization, the operators of companies and enterprises could use resources, management, expertise, information and labour of the entire world to manufacture the goods in the most appropriate areas, and then sell the produce to the areas which require them, to accomplish the most favourable distribution of resources in the world. This caused enterprises and countries to break out the boundaries of the local resources and markets, starting a competition with others in a broader sense to accomplish development. Globalization brings states and regions together by reducing the distances between each other and increasing the degree

Urbanisation is an integral part of the economic development. The global economic growth, poverty alleviation, environmental sustainability and quality of life are largely determined by the extent of urbanisation. In the past few decades urban areas in the world have experienced inadequate infrastructure, rising population and the social problems like poverty, growth of informal settlement and environmental problems accruing it. These problems in turn poses serious problems to sustainable development in the present and future. Moreover many cities in the world have become the hotspot of vulnerability due to climate change and variability and are susceptible to extreme and recurrent weather events. Most of the urban areas, in recent decades, have been facing extreme weather events and subsequent damages and loss of lives caused due these extreme events. Extreme event in its wake severely affect economic development and poverty alleviation and has the potential to drastically alter the development trajectory of the city and the areas surrounding it. In addition to physical, social and economic vulnerabilities in such cities is the low adaptive capacity with constraints on physical, financial and human resources. Therefore the assessment of vulnerability to extreme and recurrent weather events of the city is an imperative for the vulnerability and exposure determines the extent of adaptation and coping capacity of the communities in the periphory of the cities.