Olofu Anthony Madiba 17/sms01/052 ECO 410 GLOBALIZATION 1a.Attempt an analysis of the concept of globalization.What are the core indicators and drivers ? Globalization can be defined as the free movement of goods, people, information, and technologies across national borders in an unimpeded manner. The phenomenon not only has economic consequences, but it also has social, cultural, political, and legal ramifications. According to the Dictionary of Economics (Bannock et al., 2003), the term; globalisation, is defined as the ‘geographical shifts in domestic activity around the world and away from the nation states.’ It can also be referred to the interdependence of economies, through the increase in cross-border movement of goods, service, technology and capital (Joshi, 2009). Examples of such integrations can be seen in the growing presence of many multinational companies as they expand into new regions (i.e. McDonalds) and the outsourcing of manufacturing and services. Globalization is driven by a number of factors but have been narrowed down to these major ones which include :- • Demography: The size of the population of a country is important for factor endowment differences between countries. If a certain economy has a large number of workers but only a small stock of physical capital, the country is labor-abundant and capital-poor. Such a country has an international competitive advantage in manufacturing labor-intensive products. Concerning international division of labor, it will specialize on the production and export of labor-intensive products. • Technology: Due to technical progress, costs of transportation and of communication decreased strongly during the last decades. Without these reductions of costs, phenomena such as outsourcing, long-distance trade and global value chains would not be possible. • Political decisions: Economic processes are not operating in a political or institutional vacuum. Reducing or even eliminating barriers to trade in goods, services, labor and capital are political decisions. At the end of the day, whether economically motivated cross-border activities do actually take place or not depends on the policy frameworks in place. It is this framework which decides whether cross-border activities are facilitated, made more difficult or even completely forbidden. 1b.How do these drivers or indicators affect Nigerian economic growth and development? Developing countries are effected positively and negatively in many aspects, from internal affairs to external affairs. Globalization can have very drastic impacts on a country both positive and negative. I will examine the effects both positive and negative of globalization on developing countries economy, Trade process, education and health system. Globalization has helped less developed countries deal with the increasing economic developed in the rest of the world. This has solved the poverty problems in these countries. In the past this was impossible for less developed countries due to trade barriers. The World Bank and International Management encourage these less developed countries to go through market reform. Many countries began to move towards these changes by removing tariffs and free up their economies. Fariooz Hamdi “The Impact of Globalization in the Developing Countries” LinkedIn June 11th 2015. Developed nations invest in less developed nations which lead to creation of jobs for poor people in the less developed countries, this is a positive outcome of globalization. However, globalization has had its negative effects on these less developed nations. Globalization has increased inequality in developing nations between the rich and the poor. The benefit of globalization is not universal. Globalization is making the rich richer and the poor poorer. The health and education system in developing countries has benefited in a positive way due to the contribution of globalization. Education has increased in the recent years because globalization has created jobs that require a higher education. “Health and education are basic objectives to improve any nations, and there are strong relationships between economic growth and health and education systems” Fariooz Hamdi “The Impact of Globalization in the Developing Countries” LinkedIn June 11th 2015. Globalization has helped improve developing countries rates of illiteracy living standards and life expectancy. According to the World Bank (2004) “ With globalization, more than 85 percent of the world’s population can expect to live for at least sixty years and this is actually twice as long as the average life expectancy 100 years ago”. An Increase trade and travel, diseases for example HIV/ADIS, Swine Flu and a verity of plant diseases, move easily across borders. Fairooz Mustafa Hamdi “The Impact of Globalization in the Developing Countries” November 11th 2013. Another drawback to globalization is the loss of highly educated and qualified professionals in developing countries due to migration to developed countries for a better life. It is safe to say that globalization has good benefits and negative setbacks for developing nations in the world. Globalization can be thought as a tool and depending on how one uses the tool or how often or even in what ways it is used. Globalization can be good for a Nation depending on the nations and the developing nations investing in it. 2.The global village has become a contagious one, due to implications of policy and its environmental effects at affects the global markets. in your own view, is this true of the Nigerian case. Justify with clear examples Globalization has had far-reaching effects on our lifestyle. It has led to faster access to technology, improved communication and innovation. Apart from playing an important role in bringing people of different cultures together, it has ushered a new era in the economic prosperity and has opened up vast channels of development. However, globalization has also created some areas of concern, and prominent among these is the impact that it has had on the environment. Globalization has featured extensively in the debates on environmentalism, and green activists have highlighted its far-reaching effects. Let us know about the impact of globalization on our environment. Activists have pointed out that globalization has led to an increase in the consumption of products, which has impacted the ecological cycle. Increased consumption leads to an increase in the production of goods, which in turn puts stress on the environment. Globalization has also led to an increase in the transportation of raw materials and food from one place to another. Earlier, people used to consume locally-grown food, but with globalization, people consume products that have been developed in foreign countries. The amount of fuel that is consumed in transporting these products has led to an increase in the pollution levels in the environment. It has also led to several other environmental concerns such as noise pollution and landscape intrusion. Transportation has also put a strain on the non-renewable sources of energy, such as gasoline. The gases that are emitted from the aircraft have led to the depletion of the ozone layer apart from increasing the greenhouse effect. The industrial waste that is generated as a result of production has been laden on ships and dumped in oceans. This has killed many underwater organisms and has deposited many harmful chemicals in the ocean. The damage caused to ecosystem from the oil that spilled from one of the leaking containers of British Petroleum in 2010 is just one of the examples of the threat globalization poses to the environment. Due to globalization and industrialization, various chemicals have been thrown into the soil which have resulted into the growth of many noxious weeds and plants. This toxic waste has caused a lot of damage to plants by interfering in their genetic makeup. It has put pressure on the available land resources. In various parts of the world, mountains are being cut to make way for a passing tunnel or a highway. Vast barren lands have been encroached upon to pave way for new buildings. While humans may rejoice on the glimmer with these innovations, these can have long-term effects on the environment. Various studies over the years, have found that plastic is one of the major toxic pollutants, as it is a non-biodegradable product. However, plastic is of immense use when it comes to packaging and preserving goods that are to be exported. This has led to increased use of plastic, causing widespread environmental pollution. It has made so many changes in our lives that reversing it is not possible at all. The solution lies in developing effective mechanisms that can check the extent to which it can impact the environment. Researchers are of the view that the answer to this problem lies in the problem itself, that is, globalization itself can lend support to building a better structure which is economically feasible and environment-friendly. Globalization is about competition, and if certain privately owned companies can take the lead in being environment friendly, then it will encourage others to follow suit. It is important that we put in some efforts to maintain harmony with the environment. The survival of human race on this planet is dependent on the environment to such a large extent that we cannot afford to ignore the consequences of our own actions. While there is a lot of debate and discussion on this issue, the need of the hour is to have effective policies in place, and implementation of those policies. The people that we have chosen to represent us have the responsibility of ensuring that the extent of damage on environment is curtailed, if not totally prevented. We hope this article helped you in understanding globalization and its impact on the environment and the importance of taking concrete actions against it.