Question

Why we need globalisation and write 5 points in favour of this argument ?

Answer 1

1. Globalization is natural and necessary:

• The supporters of Globalisation argue that it is a necessity of our times. It is a natural extension of prevailing and ever-increasing global interdependence.

2. The existing problems are due to infant stage of Globalisation:

• Presently, Globalisation appears to be threatening global independence. It appears to be threatening the sovereign nation state system. It has been witnessing economic crises. All this has been to happening due to the initial stage of the process of Globalisation. Once it gets developed, it will stabilize world economy.

3. Globalisation is essential under WTO:

• Even before the World War II, several institutions and supranational organisations were created for guiding and regulating international economic relations. Later on, the International Monetary Fund (IMF) and the World Bank (WB) were designed to act as structures to manage the Finances in a new post 1945 international economy. The GATT was made for giving a new health to international economy. In 1990s, the old GATT got replaced by WTO. Globalisation has emerged as a new necessity of contemporary times.

4. Defects of Globalisation are products of selfishness of some States:

• The problems resulting from Globalisation have been the result of certain lapses and attempts being made by some developed countries to hijack WTO and Globalisation in their favour. What is bad is not Globalisation but the selfishness of some states.

5. Globalisation is Governable and Dependable:

• What is needed is to check the designs and actions of vested interests through concerted global level campaigns. Globalisation is governable. Through direct conduction and promotion of free trade policies and deregulations, Globalisation can increase socio-economic cultural linkages and relations among all the people of the world. Such a development can reduce the chances of war in the world. It can lead to stable, healthy and enduring peace and development.

• Globalization has been taking place. It has the potential to secure the development of a developed and healthy world community of all the people of the globe. However, no one can ignore its weaknesses and possible dangers. Globalisation needs to be pursued systematically. It must be ensured that its benefits should reach all the people an not get hijacked and pocketed by the rich and powerful nations.

Answer 2

Explanation:

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