The Impact Of Globalization On The Global North And The Global South

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The Impact of Globalization on the Global North and the Global South
Introduction
Globalization has eased the cost of conducting business globally, leading to economic growths in many aspects. Socially, there has been adoption and embracing of different cultures, whereas some have been assimilated or altered as a result of globalization. Migration has increased as a result of globalization, with movements from the global north to south and vice versa. However, on the overall, globalization has led to a myriad of positive changes from job creation, business opportunities, lifesaving innovations and government cooperation’s in bolstering education.
Effect of Globalization on Economy
In cities such as Bangalore, Gurgaon, Cebu City, Mumbai, and Manila, impacts of globalization are clearly noticeable. The mushrooming office parks, booming catering, crowds of night-shift workers celebrating the end of their shift and twenty-four-hour metro shuttles are some of the indicators. The business in the global south has migrated to the global north to obtain cheaper labor and in turn get profits by selling the same commodities in the global north. Business partnerships have evolved between business firms in the two regions. Technology discovered in one region of the world rapidly spreads and becomes a global phenomenon or tool for business. Examples include Facebook and Twitter (Jomo 45).
Despite the positive attributes globalization has brought, there are many negative impacts of the aspect. The relocation of production operation to the global north where there are low wages has led to unemployment in the south. Firms such as Apple have minimal production activity in the U.S, while most of their production is done in China. Some companies have used the weak laws to exploit the workers, paying them low wages while they work for long hours. Besides, globalization has encouraged the production of counterfeit goods (Jomo 67).
The impact of globalization on Politics
Some of the institutions that have emerged because of globalization include the United Nations (UN), European Union (EU), World Trade Organization (WTO), the Association of Southeast Asi...