Social, Economic, And Political Changes Caused By Globalization Essay

Social, Economic, And Political Changes Caused By Globalization - Essay Example Global wealth is currently shifting from less heavily populated American and European regions to the more heavily populated Asian region because of globalization. According to Lieber and Weisberg (2002, p.274), globalization helps people all over the world in the creation of a stronger and stable world. Supporters of globalization believe that globalization benefits the world through the promotion of such ideas like human rights, democracy, and freedom and that it enhances the success of the world through free trade, free investment, and better technology. According to Dharam Ghai (2003), free market and private enterprise are extremely important in determining the success of globalization. Cross-cultural businesses have been increased a lot as a result of globalization. Imports and exports between different countries were also increased because of the liberalized rules affected in many countries as part of globalization. Despite all these arguments in favor of globalization, some pe ople believe that globalization is nothing but imperialism. It should be noted that imperialism is the process of taking over of a weaker nation by a stronger nation (What is imperialism, n.d.). Critics of globalization believe that capitalist countries like America and UK are trying to loot the wealth of developing and underdeveloped countries in the name of globalization. Globalization is labeled as Americanization by the opponents. They pointed out that instead of globalization, glocalization is necessary for a country to progress properly. It should be noted that glocalization is the process of integrating local markets into world capitalism. It refers to a concept in which individual, group, organization, product or service upholds the local standards even while operating internationally.