S– If the statement is SUPPORTEDby information in the source material R– If the statement is REFUTEDby information in the source material N– If the statement is NEITHERsupported nor refuted by the source material Globalization: Boon or Bane Globalisation as a term has been defined and described by scholars, policy makers and businesses depending on the benefits that they have been seeking from it. While economists and businessmen have viewed globalisation as the removal of barriers to free trade and as a means to create one global market, sociologists have described it as the intensification of worldwide social relations where local events are shaped by happenings in distant places. It is a fact, however, that the economic benefits and consequences of globalisation and global economy have occupied most of the media and mind space of the participating nations. Such preoccupation with economic activity has prompted UNDP to remark in one of its reports that globalisation, while enhancing the opportunities for some, shrinks them for many others. Although globalisation may seek to promote economic efficiency, generate growth and yield profits, it misses out on the goals of equity, poverty eradication and enhanced human security. It is this concern that is getting highlighted increasingly in the global community of the concerned, today. The key point that is emerging is that the juggernaut of globalisation has to be careful in its roll. While it may move economies, it has to be careful in ensuring that it does not do so by steamrolling people and societies. Globalization breaks economic barrier. (S,R,N) Globalization compresses worldwide social network. (S,R,N) Globalization can be defined multidimensional. (S,R,N) Aside from the economic advantages of globalization, it also resolves such social issues and problems such as poverty and inequality. (S,R,N) Globalization is the key to economic progress of developing countries.
S– If the statement is SUPPORTEDby information in the source material
R– If the statement is REFUTEDby information in the source material
N– If the statement is NEITHERsupported nor refuted by the source material
Globalization: Boon or Bane
Globalisation as a term has been defined and described by scholars, policy makers and businesses depending on the benefits that they have been seeking from it. While economists and businessmen have viewed globalisation as the removal of barriers to free trade and as a means to create one global market, sociologists have described it as the intensification of worldwide social relations where local events are shaped by happenings in distant places. It is a fact, however, that the economic benefits and consequences of globalisation and global economy have occupied most of the media and mind space of the participating nations.
Such preoccupation with economic activity has prompted UNDP to remark in one of its reports that globalisation, while enhancing the opportunities for some, shrinks them for many others. Although globalisation may seek to promote economic efficiency, generate growth and yield profits, it misses out on the goals of equity, poverty eradication and enhanced human security. It is this concern that is getting highlighted increasingly in the global community of the concerned, today. The key point that is emerging is that the juggernaut of globalisation has to be careful in its roll. While it may move economies, it has to be careful in ensuring that it does not do so by steamrolling people and societies.
- Globalization breaks economic barrier. (S,R,N)
- Globalization compresses worldwide social network. (S,R,N)
- Globalization can be defined multidimensional. (S,R,N)
- Aside from the economic advantages of globalization, it also resolves such social issues and problems such as poverty and inequality. (S,R,N)
- Globalization is the key to economic progress of developing countries.
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