Topic: Impact of Globalization on the Local Economy: Good or Bad (Read 230 times)

Yes, as we know, globalization is a process that we cannot avoid. Rejecting globalization is the same as rejecting progress and development today.
As is the case in Indonesia, we are faced with various problems related to the increase in the number of foreign workers entering Indonesia. In recent years, there has been a lot of news about the large number of foreign workers entering Indonesia, this is due to increased investment in several sectors such as industry and mining.
This problem continues with the loss of jobs for local residents due to digital. Many job opportunities have been shifted due to technological factors in this sophisticated era. Like workers or employees who originally worked, but nowadays they can be replaced with production machine/robot technology. Store openers compete with online stores, and many more.
We must be able to acquire new skills to adapt to these existing changes in order to keep up with the global labor market. Although globalization brings many impacts on the economy such as rapid economic growth. But as rapid economic growth continues, this can also increase social and economic disparities in society and countries.

But with this globalization, there are several good impacts for society.
First, technological developments are increasingly rapid throughout the world, such as cellphones, laptops, motorbikes and others. This openness of information also makes it easy for industry players to imitate one or several other production businesses.
Second, globalization also causes competition in getting jobs. This competition must be faced with a passion for learning. This is because in the future competitors will not only come from their own country but also from foreign countries.
Third, in terms of economic globalization, this also makes it easier to sell production products from within the country to abroad.
Fourth, in this era of globalization it also provides convenience in the exchange of information which causes foreign cultures to easily enter a country, so that these cultures will develop in that country.
And there are still many positive impacts on the era of globalization in this modern era.

Globalization is great when it works and it has worked very well for decades. However countries are getting a bit protectionist at the moment for a variety of reasons. Some are legitimate, like preventing dumping of goods that receive subsidies from governments that hope to dominate a market and push out all rivals with undercutting and unsustainable prices. This is quite a rare scenario though and most protectionism is a bad idea. By moving manufacturing to the cheapest locations it allows "locals" to specialize in certain fields and gives them cheaper goods to buy, which in most situations is a net positive - even though it doesn't always look like it to those on the lowest rung of the job market.

Globalization has its pros and cons. It is a big problem that especially those working in the field of agriculture stop doing agriculture as a result of not being able to cope with the high costs. Many people have had to leave farming due to costs because they cannot compete on prices. This is one of the negative effects of globalization. When countries buy goods, they can buy them wherever they are cheapest. Those who cannot produce cheap products even though their products are of high quality cannot compete in this field.

Thanks to the method of working from home, you can have the chance to find a job from anywhere in the world. It is a great advantage to be able to show your talents not only in your region but also in the world.

That's exactly what's also happening here in my country as well. Globalization is bittersweet. It has made the world a single community and so it means easier and smoother trade, international relationships, investments, and so forth.

A couple of decades ago, it is impossible for a young lady living in a small village in a small town to work from home serving a company abroad. Today, globalization made it possible and easy. However, that could also mean her farmer family loses their livelihood because the high local cost of production means they cannot compete with cheap imported agricultural products overflowing the market.

Here in my country, our farmers, fishermen, manufacturers, and so on can hardly compete against significantly cheaper products coming from China.

To find the balance, social media influencers and big celebrities need to put a hand in this because the large extent they are the ones who are influencing others to abandon local products of businesses through their social media platforms where they show foreign designers and pictures of themselves in more foreign establishments than the local ones, making it into thee narrative that because it is foreign it is more valuable. If celebrities and influencers can really help, it will be effective because social media plays a huge role in this.

What you're saying is true because that can also be related with the complains raised by top companies in Nigeria, like the Dangote Group of Companies which made the complains of lack of crude oil or shortage in crude oil which makes it difficult for them to enjoy their operations which includes availability and flexibility of refining the crude oils. This have further pushed the refinery to explore the options of importing the crude oil they use from the USA which is relatively cheaper than doing it in Nigeria for them. Local contents becoming oftentimes difficult to access either through shortages or through hike in prices. What the government should do it to strike a balance and look for ways to regulate the market prices, cleans up the dirty and sheddy deals performe under ground 

It's probably why it's actually sensible to HODL as much of your savings as you can in Bitcoin, no? Nocoiners see us as mere plebs who gamble our money, but if they have a little understanding of our situation, then they will probably become more open to the suggestion of having a back up/fall-back from the legacy financial system.

Globalisation cannot be entirely bad. One unique advantage of Globalisation is technological advancement. As the society is advancing technologically, it is also very necessary that every individual develop themselves too so they can fit into the changing society. Those who chose to rely on their old knowledge and old patterns of doing things will keep complaining of how globalisation has deprived them of getting good jobs, promotions at work or getting patronages in their trades or businesses. Oh yea, local businesses can grow if the products are promoted well and given good publicity. I view globalisation from a positive angle and I believe if people can adapt to this changes, there will be a very small negative effect of globalisation on the local economy.

This is too difficult to achieve since everyone is struggling to survive, so if you can get a product slightly cheaper on one of those superstores than what you can get on one of your local businesses, it makes all the sense on the world to buy from the superstore at the cheaper price, as this allows you to save that money and use it for another purchase, so while we are seeing the damage corporations may be doing to our local economy, it is not as if we have many other options.

I dislike this traditional conservative ideas of "preserving" things, if we did that so far, we would have been living under a rock, a thousand years ago people burned women alive because they thought they were witches, hell not even long time ago, it happened in Salem. So all in all, I would say, let the humanity evolve, progress, if you ever dislike a progress, as humanity, we would not progress that way, nothing forces us.

It could be YOU that dislikes that progress, but if all of humanity moves that direction, what you prefer doesn't matter at all, and shouldn't matter neither. I think ti is quite easy to just accept things the way they are, it would allow people to make it go better, and should be something much easier.

Globalization seems to be the final form of distribution, so there is nothing to be improved here anymore. It only depends on the country. If their products still haven't reached the locals, then yeah, they still need to improve. I believe that many are still like this, so fair competition can still be achieved in between them. Each country has its own policy that must be followed, or else some things won't happen. They can't do much about it. I still believe that poor countries can get a greater benefit even on some other things only, if it's not possible on the other.

This part is so confusing to me, sorry. I think you mean to say less demand for the people rather than local products. And I think you mean to say that local products are more expensive than the imported ones? Then it should be the ones who will get less demand and not the imported ones. I hope this doesn't sound confusing as well, lol.

If you look at it just from the free trade perspective, it's good because you can easily buy products and services from abroad. However, it's not that simple, as it makes local products that are unable to compete, especially on price, die out. Let's say China makes cheap textile products with "slave" labor and toxic materials, while your country makes significantly more expensive textile products with minimum wage labor and safer materials. Do you think your product can compete? Well, yes, if people in your country are aware of the dangers and care about green issues. But what often happens is that you will buy China's products because clothing companies want higher margins.

This is just one example of many problematic cases related to the so-called globalization. It's a broad term that often incorporates politics and other factors.

Globalization is raising the competitiveness.

For the country, landlord and business owner, they're happy because they can get cheaper product and cheaper labor.

For the local people, it's a downside for them because there's always someone that can will do more than them and get paid lower.

For the immigrant, it's a benefit for them because they can make more money even though they only work in blue collar jobs.

So, are you the local people or the immigrant?

Globalization is a broad discussion and this can bring positive and negative impact in one country, depends on their policy of course.
We have seen a more aggressive generation where technology plays an important role on every aspect of the market, globalization should not be ignore by any country because this can be a big help for them, it's just a matter of how they run their country and how they see globalization.

I do not think so.

That's right. We are synonymous with the term love local products to support local businesses. So far, we have continued to promote that local products are also good with quality that is not inferior to products from well-known companies.
Competition will bring something that makes businesses continue to find the best of the good. Encouragement from all parties including the government is a supporting factor that makes local businesses progress.

The thing is that we've successfully played a huge mind game with ourselves such that we no longer believe in the effectiveness and competency we derive from our local product. Just Like you've said, it's not only common in your area, most developing countries have abandoned a lot of sources of livelihood we were used to while growing up in search of white-collar jobs, and instead of using their knowledge to improve on those jobs and encourage building capacity around those sectors, they prefer to look out for something from a strange land while totally abandoning the once they were brought up in. Most local cultures have almost gone extinct and this has had an effect in literally all sectors including the medical field. Some regions that were blessed with traditional medicine that proved effective for the cure of most ailments have all of a sudden looked at as less important because globally, those medications aren't looked at as valuable and in a guise to accept the prescriptions that come from the white-collar doctors, we've left a very important medical options that have proven to cure some sickness that these modern medical doctors can't proffer solutions to.

It’s true that globalization may be the cause of a nation losing its identity so the government must take steps forward in order to protect any effects against globalization. We are talking culture enhancement activities and heritage awareness to promote the identity of the nation more and to not let it be forgotten.

Globalization may have its own perks but preserving our culture and heritage must be one of the highest priorities of the government.

While I was growing up we used to have technical and vocational education schools that train artisans and tradesmen. These set of trainees usually start businesses where they produce and sell items like shoes, clothing, accessories, and some other basic items. But we don't see these small businesses again since most of what we use in my country is imported from mainly China. Globalization has started having some negative effects on the agricultural sector because most seedlings and other farm products are also imported. Everybody now is seeking for white-collar jobs instead of doing businesses or maximizing their techno-vocational skills. These white-collar jobs are not readily available which has led to a high rate of unemployment and criminal activities.

There should be a means of balancing globalization with national interest. This can be achieved through policies aimed at regulating the economic sector. The government will have to make laws to protect local industries from global competition. Students should also be encouraged to take up skills from vocational schools and not just rely on college certificates that can not even secure employment. Young people should be trained in diverse entrepreneurial skills and given the necessary support to become self-employed. The only way to limit the effect of globalization is to also be a producing and exporting nation.

I am not a big fan of globalization but I can say that globalization is definitely good for the local economies. First of all people move a lot thanks to globalization. Today they visit Japan, tomorrow they go to USA, next they visit Europe... Shopping shopping shopping, lots of shopping. Lots of local goods to buy, lots of booze to drink, lots of plane tickets to consume, lots of hotels and hostels to stay... It doesn't has an end because no matter how many trips you make, there is always one which you haven't made yet.

Did you know there are more than 1000 Greek islands? And more than 100 of them are inhabited? Just visiting those islands would take more than a year alone. (probably multiple years)

The painful truth! .

It's disheartening to see the gap between the haves and have-nots grow wider, and I can't help but wonder when the system will truly work for all, not just the privileged few.

The realization that many are trapped in this cycle, with limited opportunities to break free, hurts me every day.