Globalization

Globalization/ Outsourcing/Offshoring/Immigration/Emmigration/Expat

Many analysts place the origins of globalization in modern times while other traces, its long before the age of voyages to the new world. In the late 19^th century and early 20^th century, the connectivity of the world’s economies and cultures grew very quickly.

Globalization tends to bring people into contact with foreign people and cultures. Xenophobia is the fear of what is perceived to be foreign or strange. It can manifest itself in many ways involving the relations and perceptions of an in-group towards an outgroup, including a fear of losing identity, suspicion of its activities, aggression, and desire to eliminate its presence to secure a presumed purity of its culture. Other points that extensive deterioration of the environment, the spread of new disease, increasing job challenges and alienation, which they claim are the unintended consequences of globalization.

Free trade and globalization seem to be under siege from a broad and load range of opponents.

For decades there has been a strong consensus that globalization brought more jobs, higher wages and lower prices, not just for richer countries but also for developing and poorer nations.

But many people, including world politicians are now voicing their angers as they see jobs are disappearing and waves of migrations disturbing the established orders and decorum.

China imports explains 44% of the decline in employment in manufacturing sector in the US between 1990 and 2007 according to a report by the Institute for the study of Labour in Bonn.

Part of that declines are due to the outsourcing of jobs to other countries but automation and more efficient processes have also taken their toll.

Unprecedented growth of trade in goods and services and spectacular expansion of foreign direct investment were powerful drivers in mid 21^st century in human history.

Just look at inequality, 1.1 billion people have escaped extreme poverty since 1990 whereas 100 million people were lifted out of extreme poverty line.

The world bank, World Trade Organization and International Monetary Fund have made the issue a central part of their agenda.

The opponents of globalization and world trade feel their movements are making inroads with Donald Trump and Brexit.

With voices from the political right and left raising questions about the benefits of globalization, there is a broad base of discontent.

Globalization may be under assault from all sides but its proponents insist its revival is the only way of alleviating the discontent that now fuels its popularity.

Many service sector jobs are now under treats from outsourcing and offshoring, as companies try to save money by shifting their functions that can be done internally. What China has become to manufacturing, India has become to the new world of business process outsourcing which includes everything from payroll to billing to IT.