“Globalization does not have a single dominating theme but progressing set of consequences. Both good and bad.” It is no longer something that we are unaware of. Businesses operating at an international scale have benefitted the economies with interdependence. Trading of goods and services, investments, and technologies have in gains, creating a win-win situation for all. MNC’s including McDonald’s is a great example of globalization. The term ‘Globalization’ is not only restricted to business and economies, rather it spreads the wings to cultural and political aspects as well. Cultural globalization leads to the representation of ideas, values, and creativity. Where political globalization restricts itself to the policies that build better relationships with other countries. The biggest example would be United Nations.
Let us have a look at how globalization and its development have been espoused:
“OVERPRODUCTION-FULFILLING UNLIMITED WANTS”
Have you ever wondered how a product is available in masses and is sold at a lower price? Well due to competitive advantage; where a country can produce products at low cost and in large quantities, the price of the product decreases. Economic globalization is what has led to the birth of competitive advantage. It is favorable in terms of building better economic relations with other countries. Globalization has some favorable terms, for instance, production of same product has its parts being manufactured in different countries such as Cars.
Now you must be wondering where our (as Consumers) benefit lies. As mentioned before that the product cost of the goods and services decreases, thus, the companies charge us with economical prices. This does not only save our financial position, but it offers a vast variety of products to choose from.
However, mass production is not all sparkles. You must have an understanding of how inessential machinery, tools, and materials are being an add-on to the capital. The excessive inventory has taken over the warehouses with little to no capacity left. Therefore, with these constraints, a fuss is created, further adding problems including meeting false demand due to erroneous calculations.
With globalization bringing its benefit, overproduction is one of its main setbacks that has led to a huge amount of material waste. This waste further disturbs nature by polluting it. The over-extraction of resources is doing nothing but maltreating the earth.
“PLANET: I AM EXHAUSTED”
The earth is asking us to let it breathe as almost everything we do, from the production of goods and services to social and cultural aspects, includes the utilization of material that was unsheathed from the natural resources and underwent a certain process to give it a finishing look so it can be sold. The economy is being fully operated by the extraction of natural resources including trees, oil, gas, water, and much more. You must be thinking this going towards the term ‘overconsumption’, and for more than a decade we have been made known to the fact, ‘resources are scarce’.
Moreover, excessive use of non-biodegradable material including the usage of plastics, polythene, metals, and aluminum has further added to the pains that make the earth cry. We all are aware of how these materials cannot be decomposed, yet we still use them. The usage is not only limited to certain rather we have been over-consuming these products for more than two to three decades, exploiting nature, and destroying it. Almost all of us own a smartphone but have you ever given a thought that how this small device can contribute to non-biodegradable material. It can as it consists of cobalt that came from Africa, aluminum that was taken from Australia, and copper brought from Chile.
With overconsumption of such products, we have put the lives of many other creatures at risk including marine life. Moreover, with the pollution spread due to the usage of such products the environment is suffering. With that, due to deforestation, many species have lost their homes.
“LET THE LAND BREATHE”
Nevertheless, not all is lost. Many measures have been taken regarding the usage of environment-friendly products. ‘Going Green’ is a term that is adopted by millions. For instance, a ban on single-use plastic. These are the most important steps that many countries around the globe have implemented. Plastic is no less than a threat to living things on earth. It is harmful to animals, and it makes the soil infertile. Thus, banning plastic carrier bags is an initiative that will help in letting nature breathe and it will keep the environment healthy for generations to come.
With that, this campaign has further made the world understand conserving energy since gas, coal, and water are scarce. It is done through the installation of solar panels. Some companies and households have installed solar panels, especially the factories as they require a huge amount of energy to run it.
In recent years, we have seen around the world how PR campaigns have led so many households and businesses to cut down on waste. It is an indication to keep on reusing the material until it can no longer be used. For instance, conserving water is one of the biggest challenges we have started to face. New Zealand has started to give out wastewater bills. This step is a huge indicator of moving us towards the right line.
Moreover, in Australia, online stores like urban revolution have a wide range of eco-friendly products that are not just for personal use but for household and gardening as well. For instance, reusable bags, bamboo cotton buds, charcoal toothbrushes, and much more.
