Globalization and Its Ethical Implications

Explain the implications of globalization.

Globalization has been a driving force behind many issues around the world. Nations and
private enterprises across the world are interconnected. Consumers and individual workers are
today, in the era of globalization, more connected than in any other period in the past. Some of
the ways through which nations and private individuals have united include migration, trade, and
finance. “Globalization is a double-edged sword” (Bhargava, 2006). Globalization has come
along with it a wide extension of opportunities through which people are able to interact with one
another. On the other hand, globalization poses great risks. Some of the shortcomings of
globalization include increased tension among cultures, financial instability, the disparity in
wealth distribution and crushing debt burdens. Today, nations are coming together to devise
ways through which they can reap the benefits of globalization while at the same time working
together to manage the risks of globalization.

Identify at least two ethical issues that go along with the global societal topic you have
chosen for your final essay.

I chose poverty and income inequality as my global society topic for my final essay in
week five. Ethical issues that go along with this topic include inequality and terrorism. Inequality
relates to my topic in the sense that all regions are not well-endowed with resources. As such,
regions that are well endowed with natural resources such as oil and minerals have progressed
economically and poverty rates are low, unlike regions that lack such valuable resources.

Besides, poor regions lack the resources to deal with threats such as those caused by terrorism
and natural disasters.

Explain how globalization contributes to or affects these ethical dilemmas.

Bhargava, 2006 states, “World leaders have increasingly realized that globalization does
not take place in a just and equitable manner unless it is well managed and governed.” It is worth
noting that increased technological and economic interconnectedness has greatly led to the
decrease of poverty and economic growth in some regions. However, globalization has increased
income inequality by widening the gap between the rich and the poor. In some parts of the world,
it has led to rapid environmental degradation and conflicts in poorer regions. Developed
countries, which have companies with high carbon footprints, affect even developing regions,
whose carbon footprints is not as high as that in the rich and developed countries.

Propose solutions to these ethical dilemmas that are feasible financially, socially, and
culturally.

Developing countries lack the financial capabilities to address the challenges that have come
with the era of globalization. Thus, there is a need for concerted efforts between the developed
countries and the developing nations especially in trade, aid in dealing with terrorism and debt
relief. For global poverty to be eradicated, the rich countries and the poor countries need to come
together and begin with a global compact that will help the disadvantaged nations overcome
poverty. The poor countries have a bigger role to play as they will need to devote their resources
and national attention towards poverty reduction. They need to put in measures to deal with
corruption as this is a leading factor that has contributed to income inequality. The developed

and rich countries should provide technical assistance and financial aid to developing countries
to help them deal with terrorism as this too affects countries contributing to poverty. Overall,
global poverty and income inequality is a challenge that requires measures to be taken at a global
scale, whereby countries come together through concerted efforts and help overcome the
problem.

References

Bhargava, V. K. (Ed.). (2006). Global issues for global citizens : An introduction to key
development challenges. Retrieved from https://ebookcentral-proquest-com.proxy-
library.ashford.edu