Globalization and Its Ethical Implications
The dynamic force of globalization, a phenomenon of interconnectedness and integration of economies around the world, has resulted not only to increasing opportunities for trade diversification but presents inherent risk such as global financial instability, increased inequalities, terrorism. In an increasingly interdependent world, increasing world population, scientific and technology innovation advancement, global human development issues, global governance, peace and security, global environment and natural resources are emerging global issues of interest to both national and international governments and critical for maintaining global stability (Bhargava, 2007).
Forces of globalization have contributed to multilateral trade liberalization, which has an economic value such as increasing Foreign Direct Investment (FDI), greater economies of scale and scope and knowledge, and technology spillovers (Bhargava, 2007). It's enabled the development of competitive and comparative advantage in manufacturing by developing countries. The expansion of economic activities across the globe has put pressure on the supply of energy water, fisheries, and forest resources, resulting in their rapid depletion, presenting a risk of future scarcity (Yi. et al., 2012). The expanded economic activity triggered climate change that's evident by the prevalent extreme weather, rising sea levels, and heatwaves that have resulted in declining economic productivity. The forces of globalization triggered the need for addressing global income inequalities and poverty which remains pervasive
Globalization- children's rights nexus is one of the emerging global societal topics with two fundamental ethical issues that pervades in developing countries: child labor and child soldiers. Children are used in some severe forms of child labor and are exposed to hazardous conditions such as chemicals and pesticides in agriculture, mines machinery, and pollution. Moreover, ten of thousands of children...
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now