Modern World & Globalization
The concept of globalization is a blanket term, which refers to an increased contemporary interconnectedness of people, nations, and markets. Globalization has been made possible by the advancements in communication and transportation technologies. The increased intergovernmental cooperation, as well as the growth and development of non-governmental organizations, also accelerated globalization. Global markets that are places for goods and services have achieved immense growths because of globalization. Globalization has merits and demerits to the modern world.
Communication and technological developments have provided new and more avenues for creativity and innovation. For instance, the internet and social media platforms allow people, especially the human rights groups to reach and communicate with one another. The civil rights have therefore managed to highlight their people’s plights under authoritative and repressive regimes. Globalization has also hindered communication by creating barriers. Hackers and cybercriminals have increased their prowess in unethical hacking through technology; hence, terrorizing innocent people. Social globalization has as well resulted in terrorism. The modern world is increasingly facing cases of terror attacks. Criminals are using technology and communication advancements to monitor and attack those considered enemies. Terrorists mainly use cryptocurrency, a crucial asset in making secure financial transactions to evade suspicions.
The modern world views globalization as the contemporary form of imperialism and neo-colonialism. The need for raw materials and capital has fueled some Western countries into using globalization to their advantages. Developed nations give loans and other forms of financial assistance to underdeveloped nations. In return, they attach the key parts of their economies to the loans, implying that a failure to repay the loans would result in the acquisition of such property. Thus, underdeveloped countries have remained stuck in a vicious poverty cycle because of globalization.