Purpose Of Economic Globalization

In the 21st century, we are living in a globalized world. We eat different countries’ food; we enjoy different countries’ holiday; and we meet different countries’ friend. We could do all those things around the world. Globalization makes our life more interesting, also makes our world better. The purpose of economic globalization is making country richer, and improving people’s standards of living. Nowadays, economic globalization has become one of the controversial topics in the world. But the truth is almost every country in this world have involved in economic globalization. In my opinion, whatever they are developed countries or developing countries, economic globalization can help them develop their economy, and making their country

It started from “the colonial era European nations spread their rule across the globe.” The author thinks that European nations used their power to loot what they want, and the way they used become today’s globalization. For example, European nations got “fish from Canada; tea from Asia; slaves from Africa.” Today, those corporations start to do what European nations did in their era. Although government start to control the directions of globalization under free market, it still has unstable effect on the global economy. Because companies are main character of globalization, they can move their industries to anywhere to decrease their cost and increase their profits. The government’s regulation is not useful. In the film “The corporation,” there is someone who talks about companies only care about their stocks and profits, they don’t care about impact on society and people at all. Because the companies have no responsibility to take care of the society, but on shareholders. In chapter 4, Ellwood says that “the truth is that corporations follow the money – a nation’s political system is largely irrelevant.” For instance, NAFTA increase foreign investments for Mexico, but it causes a lot of Mexican people lost their jobs, and there are many local factories closure. In contrast, Legrain has the opposite opinion to the transnational corporation. In chapter 5, he states that use a huge company to compare with a country is unreasonable. Companies are not powerful as a country. I agree with Legrain’s opinion, companies will try their best to attract consumers, but they can not force them to purchase their products. But the country can make a law to manage those companies and people, like tariffs. Furthermore, the multinational corporations could do something good for society. Just like Stiglitz said in chapter 7, those corporations are the center of the globalization.