Tuesday, January 29, 2019

Life and Debt Response

Life and Debt Response Paper Taylor Sun 9/29/2011 St. Johns University globalisation has been a controversial topic for decades fol embarrasseded by the industrialization. The debate of whether it is positive or negative for the human pelt along has caused much divergence, consequently atomic number 82 to gigantic conflicts between different cultures, nations, and peoples. Although globalisation brought convenience to the lives of a few on a daily basis in the industrialized countries, it also brought well-nigh world power monopolies controlling the trade system, attemptation of workers in maturation countries, and victimizing the societies that ar unable to self sustain.In the 21st century, signs of globalization are everywhere, in both industrialized and developing countries. When you take a imbibe into that freshly picked coconut brought home from a local supermarket, do you take of the farmers in Malaysia that had grown the tree, the Japanese operated shipping company that had f moon the cargo to the get together States, or the American manufacture company that had packaged the delicious fruit, and had delivered it to the supermarket ascend you for your convenience?Or, every term you get ready and put on your brand new sneakers that you had just purchased from a department store do you think of the shoelaces make in Mexico, sowed together in the sweatshops in China, and the British founded brand that designed your sneakers? My guess is no. We as the privileged ones do non recognize these traces of globalization any much in our everyday lives, because we are so accustomed to the way of life made possible by globalization.However, the less fortunate ones in the other parts of the world attempt everyday to make ends meet with go forth enjoying the benefits of globalization, but rather they are the legal age that are sacrificed in the process of making the lives of a few effortless and comfortable. Before viewing the film Life and Debt, like most people, I had never re every last(predicate)y thought ab bulge the pros and cons of globalization either, but subsequently watching this documentary, I was stunned at how globalization can shine peoples lives in such a negative way.In the film, self-aggrandizing corporations and organizations such as the man administer Organization and the knowledge domain Bank act as antagonists for the Jamaican economy and its people. Take c at onception Bank for example idealistically, debt assistance would be given to the low kale countries by the World Bank. It is countries like Jamaica that the World Bank should have a fundamental position to engage in recreation by working(a) with governing bodys, and guaranteeing a strong authority and control. If these programs are non carried out, attracting overseas and municipal investment would be more complicated and difficult therefore, globalization would accrue on itself.But is that really the case? According to the documentary, Ja maica currently owes more than $4. 5 billion to the IMF, the World Bank, the Inter-American Development Bank, and some(prenominal) other leading loan companies in the world. The significant advance that these loans have set out to accomplish has not yet, and probably never would deliver its purpose. In the film, the World Bank has been portrayed as a deceiving and misleading world power, magisterial the world economy with almost absolute control.Because Jamaica needed the loan so urgently from the lending agencies, that the agencies were able to negotiate a mutually right relationship with the Jamaican government. Jamaica had no choice but to settle and count to terms with the new deal that the World Bank has offered. The deal was of superior interest, too high of an interest to be paid off by just relying on the Jamaican economys exchanges. It is also of low wages for workers in hope to increase the employment rate, too low of wages to make ends meet for these workers.This alm ost forces the Jamaican government to roll to foreign trades to barely attain its income. This situation also gave opportunities to the large companies to exploit the workers with less than minimum wages. If the people are in poverty essay to put food on the table, how can there be slumber and prosperity? Poverty and violence almost always come in pairs. Efficient legal systems and a healthy financial system are crucial to the success of a nation and its economy. If Jamaica doesnt get out of the debt crisis somehow, it can never advance into a prosperous nation.The World treat Organization plays another key role in this phenomenon that is not sole(prenominal) taking place in Jamaica, but also occurring in some(prenominal) other countries in ontogeny. It has almost become a global government in the sense of regulating the entire worlds merc turn overise systems, controlling the wealth travelling in and out of countries. In auberge for the Jamaicans to change this system of i nvisible power over their now independent country, Jamaica must earn the volume of the vote in the World Trade Organization to gain permission to alter the balance of the trading system.The majority of the votes are held in European nations whom are benefiting from the devastating situation of the Jamaicans. The region of votes each country hold are determined by the repair and size of its economy. The United States being the largest economy in the world holds as many a(prenominal) as 17% of entire worlds votes, making it the single largest vote holder. Japan comes in second, followed by Germany being third. This is exhalation to be a never ending cycle that the Jamaicans wont ever be able to get out of without some human body of policy change or outside assistance.With this situation, Jamaica became a nation forever cast in the shadows of debt. Without denying its contributions, globalization has brought the world better access to goods that were not even imaginable before its existence. It brought competition to the market therefore decrease the price for consumers. It gave numerous opportunities for business to flourish and brought wealth and prosperity to many nations. It is the beginning form of a new world order for kindliness to get up and advance as a single subject. As we all know, no plan is perfect. In the process of executing this ideal of globalization, many nations are sabotaged as well.Poverty, violence, corruption, unemployment, large disparity between the rich and poor, and underdevelopment of educational activity and health care systems are the defects of globalization just to name a few. Although injustice and inequality almost come hand in hand with the practice of globalization, but can we really abolish it at once? From a morality stand point, globalization is no different from owning slaves in the sense of forcing less privileged people from developing countries to work for large monopolies, with disproportionate wages for the workers in contrast to the profit that these ompanies generate. But I believe from the standpoint of the advancement of the human civilization, globalization is inevitable. Without globalization, the human race cannot advance as a whole therefore, slowing down the development process of humanity. We might not think of this matter this way, but globalization has only been in the existence of the entire human history for a very brief period thus, the structure of this global system has not yet fully organized itself to prevent any defects in its practice.A perfect example is the more micro Chinese economy in terms of the macro globalization. As we all know, China has been one of the quickest growing countries in terms of finance and economy. There were many loopholes inwardly the government regulations for businesses in comparison to already developed nations such as the United States and Great Britain in the past years, providing opportunities to cheat the system resulting in a gen eration of overnight millionaires. With the realization of this situation, there have been changes made to prevent this from happening any further.If one nation is able to set and adjust its system to improved and recover from the flaws, why cant the World Trade Organization change its ways to come up with a better arrangement and structure to eliminate the injustice and immoralities? globalization has brought many things to the table for everyone, both negative and positive. We human beings need to focus more on the macro result of globalization rather than the relatively micro side effects of this phenomenon.I believe with the passing of time and the recognition and understanding of the issues of this matter, we get out be able to modify and progress our ways to recover and prevent future occurrences of the problems we face today. Globalization will not always be what we know of it in todays society. In time, it will eliminate its flaws and achieve its ultimate goal of union people of different backgrounds, cultures, and nations into one group of people working towards a better tomorrow.

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