Explain Different Approaches To Globalization In The 21st Century (Coursework Sample)

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Approaches to Globalization in the 21st Century
Different countries have continued improving relationships with each other. Trade and funding have been used primarily been used to foster relationships between countries. Developed countries such as the West have continued to form trade blocs such as the European Union. The European Union, for example, is a gateway to trade and other cooperation to the European countries.
Emerging Economies such as China has also been a driving force in globalization. China is notably known for its industrialization muscle. China has enjoyed economies of scale thus making production cheap. The global expansion of China is also as a result of government support. The Chinese government has been on the forefront of establishing business relations, especially with African Nations. Funding and grants, as well as the transfer of technology and expertise, have also been an essential tool in ensuring greater cooperation between countries.
The United States has also been very impacted globalization greatly. Developing friendly relationships between countries has given an opportunity the expansion of American companies to the rest of the world. The influence of the United States can also be attributed to the success of the American companies whose products can be found everywhere. Globalization has also allowed American companies hire competent workers and expatriates from around the globe.
Another approach to increased global cooperation has been reduction and/or removal of trade barriers. Reduction of trade barriers has resulted in increased trade between countries. Raw materials can be sourced at relatively cheaper costs while the market for the finished products is readily available. Further, global funding bodies such as the International Monetary Fund (IMF) and the World Bank have promoted globalization by providing financial assistance to countries in order to promote development.
Potential for Conflict in Today’s World Tied to Globalization
Despite the improved relationships between countries globally, conflicts between them have also been rampant. Various reasons can be attributed to the potential and likelihood of countries falling into conflicts. Some of them are discussed below:
* Unethical use of technology
Technology has played a significant role in improving ties between countries. Sharing of expertise and ideas has become an important gain from technology. Unfortunately, unethical practices using technology can bring the cruel relationship between countries. For example, different countries have been accused in the past for spying and hacking with a malicious intention. Further, technology can also be used to influence social and political decisions such as the use of Facebook maliciously with an intention of creating false impressions. The unethical technological practices have been credited for creating tension between countries.
* Political Instability
Global cooperation between countries has been essential in solving global challenges such as terrorism and civil wars. Political instability has continued to threaten the peace and consequently the relationship between countries. While friendly countries continue to offer humanitarian support to the countries in a civil war such as South Sudan, political instability has caused deaths to the humanitarian aid workers. Such deaths have been received negatively often causing disagreements and conflicts between the nations involved (Carment & Sadjed, 2017).
* Competition
Developed countries have increased their industrial competitiveness thus making completion with the developed as well as the developing countries unfair. Over industrialization of the developed countries has been attributed to the collapsing of industries such as the textile industries in the developing countries (Davis, 2012). Conflicts in such scenarios have consequently been inevitable.
While globalization has impacted many countries positively throughout the world, such challenges are expected and proper management of the conflicts will be the sure way of making peace last. In addition, ethical business practices, as well as healthy competition, will ensure long lasting and friendly business environment (Davis, 2012).
Current Geopolitical State of the Developed World
The developed world has continued to dominate the world with their manufacturing expertise and industrialization prowess (Davis, 2012). Further, the government has been very instrumental in providing a political environment that favors business expansions. Political stability enjoyed in the developed world has been paramount in ensuring success in business as well as start-ups which often times succeed and expand globally.
Further, the governments have been continued to provide suitable business laws that favor business expansions as well as regulation of the new upcoming businesses. The political players have also ensured a level business ground by establishing trade blocs within themselves as well as their neighbors thus ensuring the success of their business and support to their industries.
Large emerging economies such as China, India and Brazil have also increased global competition by their increased industrialization and market expansion. China, for instance, has used a different approach to gaining business partners such as unconditional grants and development loans. Further, China has also forged friendships with many developing countries while promising political noninterference. The move has increased competition especially with the developed counterpart such as the West.
Shared Values and Visions Necessary for Global Cooperation
For global cooperation to be achieved, there are certain values and visions that must be achieved as well as being adhered to.
* Ethical Business Practices
For countries to achieve global cooperation, ethical business practices must be practised. Some of these ethical practices include fair completion that gives level playing ground for different countries to compete fairly and profitably. Highly industrialized countries should not, therefore, take advantage to compete unfairly over their counterparts.
* Global Development
Global cooperation will be possible given the commitment of the individual country to achieve development. Basic development agendas such as infrastructure, universal healthcare, education as well as infrastructure development should form the visions that support the need for global cooperation. Additionally, the commitments to achieve development should be tracked periodically to avoid negligence or misuse of the platform given.
* Elimination of Corruption
Corruption is a big impediment to development both domestically and internationally. For global cooperation to be effective, corruption must be eliminated. Global companies, as well as local companies, must compete for opportunities equally and avoid corruption. Corruption has been known to promote shady business deals as well as poor performance and unaccountability. (Mukherjee, 2018). Additionally, corruption is a vice that condones poor development and misuse of funds such as grants, aid as well as development loan funds.