Thursday, 19 September 2013

Summary of The Double Edge of Globalization (final)

Globalisation has led to an increase in trading across the globe; however, it has also result in the depletion of natural resources, as well as, environmental issues.  There is no concrete evidence to show that the investment of transnational companies in countries where law enforcement is ineffective brings about environmental issues; nevertheless, it is undeniable that logging and deforestation contribute to one-fifth of worldwide carbon emissions. In the closely connected world today, China’s combustion of fossil fuels, and excessive use of chemicals not only pollutes its own soil, water and air, but it also causes worldwide problems when they are being soaked up in the air, causing acid rain globally. Moreover, globalisation gives rise to global warming, which is reducing the global economy to one-fifth of its current size, as well as creating damage that is comparable to the World Wars and the Great Depression. Although nations are reducing deforestation and efforts are being made to increase public consciousness, USA’s refusal to sign the Kyoto Protocol shows that reluctance and a lack of obligation are the main factors as to why globalisation is a constant threat in the modern world.

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