Globalization and United States Political Atmosphere

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Globalization and United States Political Atmosphere
Globalization
Globalization is the process that incorporates the course, causes, and implications of transcultural and transnational integration of non-human and human activities. The development of the procedures that started several centuries ago, mirrored in colonization, exploration, trade expansion, migration, technological advancement, and conquest that have happened across world history. The dimensions of globalization include cultural, social, political, and economical. A critical evaluation of globalization literature indicates that scholars are predominantly concerned about economic globalization. However, there is the need to incorporate cultural, social, and political factors in such discourses (Mir, Hassan, and Qadri 612). Globalization proponents argue that it has facilitated the movement of services, technology, capital, labor, and goods among nations, thus integrating individual economies and markets for increased efficiency in resource allocation, investment opportunities, and higher productivity (Huh, and Park 1).
However, critics cite some negative side implications related to globalization. Critics reiterate that fierce competition could have contributed to social and economic inequalities among countries and individuals, create political and income polarization, and possibly undermining cultural and social cohesion. Ultimately, globalization is perceived as a threat to economic development and stability. Underdeveloped nations' economic subordination, diminishing cultural diversity, and sidelining of socioeconomically disadvantaged groups are fiercely discussed as related issues. Indeed, debates concerning the distributional implications of globalization have increased recently. Critics such as Milanovic and Bourguignon cite globalization as a significant driving force in the expanding inequalities between developed and under-developed countries (Huh, and Park 1). Globalization has generated inequalities between the world's wealthiest and the world's poorest nations. There is a rising fortune of the developing countries, especially India and China, and as these economies continue to converge with the developed nations, global inequalities will persistently fall for specific timescales. Even as global inequalities decline, inequalities within emerging countries continue to increase (Bourguignon 11).
The globalization process offers a practical opportunity for humans to contribute to a significant reduction in poverty globally. Whereas the possibility for poverty mitigation is substantial, the degree of it depends on various factors, including the growth patterns followed by developing and developed nations as well as the overall world's policy framework. The cost and risks of globalization could be substantial for the under-developed and the poor. The negative implications of globalization are characterized in certain instances by periodical global economic and financial crises. The cost of the recurrent problems linked to financial and economic globalization seems to be borne mostly by the emerging economies and often disproportionately by the under-developed (poor) nations who are primarily vulnerable. On t...