The Importance Of Globalization

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Globalization should be defended and extended. Globalization allows for the free movement of people (e.g. migration and remittances), fosters economic prosperity and growth (e.g. flow of capital and trade), and helps bring structure to international politics and support to states (e.g. United Nations and the World Trade Organization). I will argue that while the defense and expansion of globalization benefits the entire global community, the more powerful states will benefit the most. The organization of the argument is as follows. First, I will discuss the positive impacts of migration, especially in regards to remittances. Next, I will analyze the effects of the global political economy on global wealth, trade, and the flow of capital.…show more content…
Remittances, sums of money that migrants send home to their families, were estimated to total $440 billion dollars in 2015 and represent 41.7 and 29.2 percent of the GDP of Tajikistan and Nepal respectively. As shown by the proportion of GDP remittances represent some countries have become very dependent on them. Remittances have positive effects in the communities they are sent to, largely because they are spent on making home improvements. In one study, it was found that remittances had significant positive impacts on residents’ access to proper sewer drainage. This positive improvement was because residents could afford to build septic tanks for private drainage. The positive impacts of remittances will only continue to grow as more and more people are able to migrate thanks to globalization. Globalization has also led to deep economic integration between the states. This integration has led the world to grow richer as a whole, an increase in trade, and an unprecedented flow of capital. The World Bank reported that between 1990 and 2015 the number of people living in extreme poverty fell below 10 percent of the global population. Thanks to the global political economy the world as a whole has become richer. While some may critique this by pointing to worsening poverty in some countries and growing inequality, they cannot disagree that lifting more and more people out of poverty each year is positive. The driving forces behind the increased global wealth are

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