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Globalization is a term that generates hopes as well as fears, but the sad reality is that the global village is doing more harm than good. Many argue that to globalize is to bring about unprecedented opportunities and solutions to world concerns, however these views are few in majority as the rest of the world condemns globalization as the problem of the many worldwide tribulations. ... Globalization describes the growing interdependence of people and nations around the world and the fact that developments in one part of the globe have a more immediate impact, and produce large scale consequences, in other regions of the world (Allen, 1995: 58).
Third world countries, like the Philippines, are still unable to develop and prosper because of this growing global village and the patterns of domination displayed as a result. ... Furthermore, the fact that dominant nations and world institutions have instituted a range of policies and placed a number of barriers on trade has helped to further indebt the Philippines. In a world where progress cannot be stopped, the crisis of the inability to develop in the Philippines is a direct result of the impact globalization has on the devastation of the economy, resulting in a host of additional concerns for Filipinos.
Foreign direct investments (FDI) and transnational corporations (TNC) are enormous negative contributors of globalization, looking only to improve their global position and gain control of the world economy , further strengthening the inequalities that exist (Allen, 1995: 58). Neither of the above organizations have any ties to the Philippines, except to take advantage of their low labour and exploit the country’s raw materials while having the option of withdrawing at anytime if not profitable, thus sending the economy into collapse (Gill & David, 1988: 149). ... TNC’s also gained control over more important sectors, such as telecommunications, through issuing loans and investments, at the same time persuading the Philippines to focus on exports, rather than looking to invest in internal economic development (Harris & Seid, 2000: 7). Most alarming, is the fact that over 70% of the largest corporations in the Philippines are entirely US owned (Shoesmith, 1986: 17). However, perhaps the greatest impacts of globalization and TNC’s on the Philippines lies in the fact that they extracted non-renewable resources and severely degraded the environment, all the while depleting capital by maintaining substandard working conditions through sweatshops (Harris & Seid, 2000: 8). ...
In the book Cultural Perspectives on Globalization and Neoliberalism in the Developing Countries, Richard Harris emotionally asserts,
TNC’s spread like cancer, colonizing more of the planet’s living spaces,
destroying livelihoods, displacing people and feeding on life in an insatiable
quest for money. Culturally speaking, globalization is. ...
This quote is referring to the fact that FDI and TNC’s have created a cultural imperialism, where in this case, the values and norms of the US have penetrated to the Philippines, changing their values to suit those of the US (Gill & Law, 1988: 155). For example, the implication of American values in the Philippines show how the “apparently harmless Mickey Mouse is a symbol of American individualism yet leaves the aspiration to a better North American way” (Gill & Law, 1988: 155).
Approximate Word count = 2543
Approximate Pages = 10.2
(250 words per page double spaced)
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