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Globalization Will Prevail Over Localization Essay

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The world and world economies today are very diverse. Everything is constantly changing and our nation is becoming more integrated everyday. The question is are we benefiting or are we getting hurt from this integration? In this paper I will try to weigh the costs and benefits of both Globalization and Localization. Opinions vary greatly concerning this subject. Depending on what part of the world you are from and what your economic standings are you may have an entirely different opinion than someone else. In some aspects Globalization may lessen the impacts of some environmental problems, but may worsen it in others.

Before I get to in depth I will clarify the difference between Globalization and Localization. Globalization, in simple
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It is great for the whole world to be so integrated. An enormous amount of information is available to anyone at anytime as long as they have the proper means of attaining it. Investments and other exchanges can be switched to the country with the best investment options. Trade becomes quicker therefore making the economy more effective and efficient. " In the 1990?s alone foreign investors have poured 1 trillion into developing economies. It is raising living standards in some countries faster than ever thought. It is increasing the number of job opportunities; it has decreased the number of people in poverty, and has enhanced capital and information as well as the free flow of trade. With all this free trade comes a lack of security. With so many nations integrated and so much openness there is really no way to stop major business transactions from occurring on the Internet. Singapore Foreign Minister Shanmugan Jayakumar said," we need to promote higher standard of national government by strengthening regulatory and supervisory frameworks. We also need to lessen government interference in market decisions." "In this pursuit of higher living standards, we have created this New World of global markets and instant communication to deliver gains in efficiency and competition that are beyond the powers of the national governments." Another problem is attaining the wealth of information and opportunities that are associated with globalization. If we are going
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