Friday, September 27, 2019
Impact of Globalization Essay Example | Topics and Well Written Essays - 1500 words
Impact of Globalization - Essay Example Also, because of globalization, most firms were able to launch their products worldwide in a bid to make huge profits. Toyota, for instance, is a motor vehicle manufacturer founded in Japan but in an attempt to increase its revenue it had to spread to countries like the United States and other continents. The same goes for Ford Motor Company that started as an Ã¢â¬Å"International New VentureÃ¢â¬ . In addition to this, globalization made it possible for some countries to get what they could not produce cheaply as the cost of producing the same could have been higher than buying from international corporations. In spite of the possible advantages of going global, it is argued that this idea has a dividing factor between countries. The fact that governments are put in a situation whereby they must choose between a number of different companies from different countries is seen to be insinuating that there would be bad relations with corporations that are not chosen. Furthermore, the r ole of the government has been changed. The state ought to protect its interests by virtue of its sovereignty, but globalization forces state to privatize their agencies so as to benefit from the advantages that come with privatization. Turning to privatization in a bid to do business affects the governmentÃ¢â¬â¢s role in deciding how to run its agencies and this greatly dictates who may be sponsored to ascend to political power so that they may be easily influenced to sing to the tunes of these international corporations.