Essay Preview: Globalization Case
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Globalization has gone to a whole new level where it allows countries to tap on international advantages as it become more visible. Developed and developing countries, such as Singapore, have warmly welcomed globalization as it brings about more benefits especially on natural resources and communication technologies.
With globalization, both the developed and developing countries faced fewer problems on the scarcity of natural resources. An example is where the developing countries in the Middle East provide America, a developed country, the supplies of oil in return for financial support for as much as $50billion per year (Institute for the Analysis of Global Security, 2006). However, these will cause countries to be over-reliance on one another. For instance, the EU crisis that occurred in 2008 has badly affected the neighbouring countries such as Greece, as they are too dependent on each other for trade. In Singapore, globalization has helped to solve the problem on water scarcity. Singapore obtained water supplies from Malaysia that in return helps Malaysia to refine the water with the advancement of its research and development facilities (National Library Board, 2009). Hence, as a result of globalization developed countries get richer in terms of natural resources whereas, developing countries get wealthier financially.
Besides the increasing supplies of natural resources, communication technologies are much more advanced due to globalization. As supported from Ghemawat (2007), a 3-minute phone call from New York dropped from $350 to as low as only 30 cents and is almost zero cost due to the availability of the internet. However, such advancement of communication technologies caused people to be more “wired” not more “global” as the people are actually communicating with people across the town and not across the country. It is also further supported from Ghemawat (2007) that an average South Korean web user spend several hours a day online probably chatting with a friend across the town and not with a fellow surfer in Los Angeles. In Singapore, the advancement of communication technologies has brought about many advantages. One example is where the expatriates are able to frequently update on work progress and engage in virtual meetings with the companys personnel of Singapore as well as to keep in contact with their own family members with the help of communication technologies. As communication is crucial in todays society, the advancement of the technologies is relatively essential.
In conclusion, countries have warmly welcomed globalization as it brings benefit on natural resources and communication technologies. A quote by Sachs (n.d.), “Globalization was a deep trend pushed by technology and right ideas, as much as anything else”, without this significant trend countries are unlikely to prosper as much as they are today. Thus, globalization is