GLOBALIZATION AS I SEE IT

Globalization engenders the active integration ofnational economies, which ordinarily ought to besegmented. Whatever the term may mean precisely, fromthe stand point of a layman, I think the world isglobalizing, if you ask me; yet, from the facts andwhat experts present, it seems what is apparent is buta forced coercion of unsynchronised needs, with therich nations on one hand not willing to compromise andthe poor nations on the other, compelled to accepttheir fate for want of more appeallimg options.Advanced technological innovations intelecommunications and the consequential boost incommerce has supervened the necessity to reduce pricesfor competitive edge in the economies of scale.Large-scale production has fewer demerits in an age ofrecorded vertical population explosion. Multinationalsmore than double the output of world GDP and have manytimes over increased the volume of internationaltrade.*Countries are only too eager for a shift in fiscalpolicies, which allow foreign companies toindigenalize and thus boost their economy.Specialization finds certain countries better off for'cheaper is better' products, thus giving way to'outsourcing.'It is merely a question of time beforebarriers such as place and boundries matter little tocommerce and engagement entirely.From a scale of personal preferences, demand shallgive rise to utility and supply. Presently, frompersonal preference data: french nationals impact onBritish soccer, differential tastes in the US forforeign labels in cars has inspired mind-bogglingmergers and acquisitions,Chinese and Arab appreciationof American foods and dress code have triggeredadjustments in social and political lifestyle,increasing recognition of the autonomy of Africanleaders in sub-regional matters is creating aconsciousness of the evil of facist regimes.*David Begg, Stanley Fischer, Rudiger Dornbusch,Economics(Seventh Edition), Berkshire, Mc Graw Hill,2003,(pg.92) 2Until countries are prompted to desist from unfairtrade practices that subjugate poor nations in beggarstatus by the grant of foreign aid and emergencyreliefs rather than the much needed removal ofagricultural subsidies, which grant to Western farmersthe leverage that affords them unequal bargainingpower against their counterparts in poor countries, ina highly competive global market, much remains to beachieved*.Rude interference of Governments with internationalprice mechanisms, which ought to be phenomenal, to theextent of lobbying, undermine smooth transition inthis nascent stage of development for globalization. The IMF, the World Bank, the German Central Bank andAmerica's Federal Reserves, including a chain of localand international banks and consortiums, in a cartel,form a culture of power brokerage on the internationalscene. By mechanisms suited to their interestsmanipulations are effected without recourse to theneed for a set standard international value system asfixed global foreign exchange index and instrument.Less Developed Countries are currently under pressureto increasingly open their borders to domineeringconglomerates and monopolists. This forced compromiseis merely a passing phase. Needs shall compete toprove greater autonomy until between when China comesto self realization and actualization as the drivingwedge of necessity between two extremes. Necessityshall have given birth to utility, thereafter, allmechanisms shall fall in place, with price as acardinal tool of trade, when fixed by the phenemenonof demand and supply, alternating between the East andWest Blocs, not due to political reasons but, forpurely economic and commercial purposes, internationaltrade shall balance in the start of a new day.Then, jobs shall be apportioned according to prowess,while wages shall be determined by value of work donerather than by local legislation. Welfare benefitswould wear a more global perspective with competiveedge to meet demand. Then, the problems of fullemployment shall not negate balance in foreignexchange rates, while GDP earnings shall be forgottenfor the more economically essential GNP with cashflowhighways established by communicationnetworks.Personal wealth and standard of living shallbecome the true index to replace mercantilism, therecording of another man's wealth for other people'smoney.Marginal utility need not be limited to fixities ofregular job and location.Once again, as the Malthusiantheory was supervened by the Indusrial Revolution,taking advantage of population for increased market,so true and unfettred globalization shall reversediminishing returns to saturated diseconomies ofscale. BIBLIOGRAPHYThe Economist, April 1st 2006Cartelization,www.gold-eagle.comDavid Begg, Stanley Fischer, Rudiger Dornbusch,Economics (Seventh Edittion), Berkshire, Mc Graw Hill,2003.Robert Frank, Benanke, Principles of Economics, NewYork, Mc Graw Hill, 2001*Robert Frank, Ben Bernanke, Principles of Economics,New York, Mc Graw Hill, 2001, (pp.544, 763, 557, 556,558)