Response to the 3 quetions on GLOBALIZATION

Will globalization benefit or disadvantage the poor?

BENEFIT:
- The World Bank gives out loans to the poorer countries to support their national development. Therefore, the poor countries gain the monetary incentive to build their nations - Branches set up by MNCs in poorer countries provide source of employment for the people there. - allows developing nations to grow economically through trade (china, india able to exploit lower costs (comparitive advantage))

DISADVANTAGE:
- Inequality occurs as most of the benefits (in terms of profits) of globalization goes to the MNCs
(in the infopack, there is an example pointing out that from one shirt which costs $40, the workers only earn 15 cents off it)
- Exploitation of their resources due to globalisation
e.g. MNCs wanted to go to Bolivia to extract lithium, but the extraction would lead to environmental problems like pollution for the locals living there.

Can we be part of the global economy and still retain our traditions and cultures? or will we end up being mini Americans?

- Worryingly, there is indeed dilution of indigenous culture in some countries while they try to develop. Americanization is taking place in many Asian countries (fast food culture etc). Some liberal ideas from the west contradict with the traditional conservative beliefs, causing a dilemma in those who are caught up between the two.

- Although globalization leads us to adopting the American culture, but we can still do something about it and preserve our unique culture
One such problem: erosion of language: increasingly, students in Singapore are losing their ability to speak Chinese because they live in an environment where English is the official and most common language. Some of them only study Chinese for the sake of passing the compulsory exams. However, this problem can be solved by policies and campaigns implemented.
Moreover, globalization can be beneficial if we retain our own culture and learn to appreciate/understand foreign ones.

Globalization leads to peaceful or conflict-filled world?

CONFLICT:
- Globalization makes the world interconnected, and leads to more busybodies.
e.g. America tries to stop Iraq from its nuclear plan.
- Globalization widens the gap between the rich and poor when the unbalanced distribution of wealth is worsened by, Social tension is created.
- If there is a lack of understanding and communication, people from different culture may find it difficult to tolerate each other.

PEACE:
- Increased interdependence of countries means that gains out of wars/conflicts are minimized since national assets are at stake and countries affect one another’s economic survival.


We are: Wei Liang, QiaoEr, Claire, and Xiao2 ((: