Read full version essay Globalization In The Caribbean
Globalization In The CaribbeanPrint version essay is available for you! You can search Free Term Papers and College Essay Examples written by students!.
Join Essays24.com and get instant access to Globalization In The Caribbean and over 30,000 other Papers and Essays
Category: Social Issues
Autor: anton 21 April 2011
Words: 1543 | Pages: 7
Globalization refers to the emergence in the twentieth century, of a global community, whereby cultural, economic, environment and political events occurring in communities in one part of the world has quickly come to be significant to people in other societies.
The way in which technology has Ð²Ð‚?evolvedÐ²Ð‚â„¢ has resulted in an advance in communication, transportation, scientific discoveries, and information technology. These advances, which are the basis of globalization, have infiltrated and affected every possible nuance of Caribbean life, so that it is almost impossible to imagine life without them. Like all entities that change the world in which we live, globalization has both negative and positive impacts; in the Caribbean its positive aspects include a basic Ð²Ð‚?knowledge-sharingÐ²Ð‚â„¢ and easier access to more resources. Disadvantages of globalization here in the Caribbean revolve mainly around the way in which it adversely affects our small island economies.
The Caribbean has benefited in numerous ways from globalization. First and foremost is the fact that due to twentieth century leaps in communication techniques, national banks and investment entities that aid in generating finance for their respective Caribbean states are now able to access income-generating programmes-such as the trading of money, stock and bonds- twenty-four hours a day, in almost very part of the world. These communication techniques have also greatly reduced communication costs and time to a bare minimum. Additionally, Caribbean people have found that they are also able to access greater, more varied range of services as a result of globalization. With the use of technologies like the internet, they can buy and sell almost anything from almost any place on earth with just a click of a mouse button; sometimes for a fraction of its cost had it been purchased locally. Furthermore, with policies -such as that of free trade- food items, clothes, luxuries, educational equipment, and other products deemed necessary to maintain a particular standard of living have also become more easily to obtained.
In addition, because of the way in which technology has opened mediums of communications while cutting its costs, Caribbean people have found an easily accessible, cheaper means of communicating with each other. The result is that around the region, societies have become more united in some ways, having been exposed to each others culture and recognizing the commonalities. This is due mainly impart, not only to the internet, but to the television, radio and telephone media. Globalization has also provide Caribbean governments with a more efficient access to pharmaceuticals, health aid apparatus and educational equipment. This has resulted in a general improvement in the Ð²Ð‚?health statisticsÐ²Ð‚â„¢, as well as the Ð²Ð‚?educational statisticsÐ²Ð‚â„¢ around the Caribbean, as its citizens are able to obtain better health care and more reliable, modern educational tools( such as computers) in their schools- at a cheaper rate.
The improvement of transportation technology around the globe is another important component of globalization. In the Caribbean, traveling from one country to another around the region has become less time-consuming and inexpensive. This is an advantage because regional tourists who purchase food supplies, clothes and stock for personal use or for business from neighboring countries, are a means through which governments in these countries generate revenue. Additionally, there is also the fact that regional governments also supplement their income with the money spent by regional tourists who travel around the Caribbean to attend cultural events like TrinidadÐ²Ð‚â„¢s Ð²Ð‚?CarnivalÐ²Ð‚â„¢, or BarbadosÐ²Ð‚â„¢ Ð²Ð‚?Jazz FestivalÐ²Ð‚â„¢. It must be noted that the improvement in transportation due to globalization has also strengthened the regionÐ²Ð‚â„¢s Ð²Ð‚?international touristÐ²Ð‚â„¢ industry, as visitors find it more efficient and easier to arrive her by plane and by ocean liner. This is a crucial factor for the many countries in the region, where tourism provides most of their revenue. Improved transportation methods have also made it easier for the Caribbean to transport goods abroad to regions where it would have been impossible before to transport them because of their distance or inaccessibility, this widening of the regional market means an increase in export profits for the regionÐ²Ð‚â„¢s nations. There is also the related drop in transportation costs and the reduction in the loss of profits due to spoilage of goods, for example, fresh fruits and vegetables traveling form the Caribbean to Europe, because transportation methods has become speedier and more efficient.
There are several instances whereby globalization, or rather its components, are abused much to the disadvantage of smaller countries. In many circumstances, the disadvantages of globalization greatly out weighs and counteracts the advantages. The result is that these regions are adversely affected and economic, local and regional tensions are exacerbated and there is an increase in prospects and capabilities for conflict among nations of a region, as well as between regional nations and other countries. Globalization, then transforms from being advantageous to being a disruptive force in the Caribbean.
The Caribbean region and its respective economies are in a state that does not lend itself willingly to the entire globalization process. The downturn of global economy , the economic and social panic caused by the alarming rise in terrorist activity, the conflagration of countries such as those in Europe and the change in the global balance of power due to such unions, have all impacted on the economies of the Caribbean states. They have become even more fragmented, and when this is combined with their intense nationalism and strong sense of identity they are made more venerable to the negative aspects of globalization. Even as governments in the Caribbean find it easier to gain access to markets that generate income and thus, improve the fiscal situation of their countries, the policies of entities brought into creation due to globalization-e.g. multinational (MNCs) corporations and transnational corporations (TNCs)- create problems for our island economies.
Trade agreements made between larger countries has allowed for the removal of all obstacles and resistance to corporate invasion of developing countries. MNCs and TNCs (businesses that generate or invest in more than one country or function as a global marketplace) often extend their businesses to underdeveloped, or developing countries, where the cheap labor force allows them to accumulate high profits at the expense of the local workers and government. These corporations further exploit the countries in which they are based by sometimes employing persons outside the country to work in the higher paying jobs. Furthermore, most of the profits made by such companies are usually wired to banks outside the region and is not spent inside the country, doing nothing to improve its fiscal status.
MNCs and TNCs also tend adversely affect Caribbean trade because they are more financially able and technologically advanced to produce/provide goods and services at cheaper prices and at larger quantities to global markets. Caribbean nations thus find that the fiscal returns made by their exports are drastically reduced as their clients turn over their demands to the larger conglomerates. The major problem associated with MNCs and TNcs is the way in which they Ð²Ð‚?take-overÐ²Ð‚â„¢ regional companies Their take-overs usually go unnoticed until it is too late for governments to react, because these corporations are so large and diverse that it is impossible for Caribbean governments to know for certain if the persons in charge of the take-over belong to a larger business entity. The result is that the local businesses which are bought not only lose their identities as Caribbean businesses, but foreign investors, instead of local or ones, are the ones who benefit from the money made.
One major example of the way in which globalization has affected Caribbean economies is the fact that richer countries like the United States, because of their assess to more advanced technologies (and because of their influence on global trade policies) have been able to market Ð²Ð‚?beet sugarÐ²Ð‚â„¢ to countries that once depended on Ð²Ð‚?cane sugarÐ²Ð‚â„¢ from the Caribbean. The United States therefore, has the ability to provide vast quantities of beet sugar to their consumers , at a fraction of the price of cane sugar, and because globalization has given them the means to do this through free market policies, Caribbean nations like Barbados, who depend heavily on the sugar export market, find that the income generated from it slumps drastically. Conclusively, the process of globalization has had a negative impact on Caribbean economies in some ways, because it is a process that requires governments to relinquish control of their economies and allow free access to markets that were once protected, so that they find themselves open to unfair competition with vastly larger neighboring countries.
Conclusively, because no part of the world is immune from the process of globalization, the challenge for the Caribbean nations is to understand where the world is heading and to find a place in it. The Caribbean governments must understand that constant innovation and flexibility is needed for survival in the unprintable, rapidly changing economic and social environment. The idea of a Caribbean Single Market Economy (C S M E) is one of the ways in which Caribbean heads-of-government are innovatively seeking to respond to the pressures of globalization. Caribbean people must come to understand themselves to be one people and to realize the importance of a united front in the face of globalization- a process that ,will given time, result in the lost of our identity and freedoms