Essay: Challenges of Globalization

Sample Essay

The major challenge in front of globalization endeavor is job loss which leads to one solution. The solution comprises of proposal for new safety net of health and wage insurance which would work out for the jobless workers whose jobs were displaced. This utility was also proposed for the people whose wages were diminished. Safety net of health and insurance offered to provide them with a part of insurance for a number of years. The discussed solution was supposed to be a partial solution to this sticky situation (Stewart, 2001).

American concepts about globalization have just been discussed. Perception of third-world countries about globalization is related to foreign direct investments to economies and achievement of some advantages through this direct investment practice. The globalization challenges in the third world countries include casualty of agricultural industry as the worst of its impacts. Agriculture is supposed to be the part and parcel of the economies in most of the South Asian countries and globalization causes reduction in farmers’ per capita income and bankrupts the rural families. Due to these latent challenges globalization attempts get overwhelmed. The suggested way to fight back against the challenges is the increased promotional activities in flourishing IT industry which has shriveled time, space and the price of communication for the transfer of information in cheapest prices around the world (Articles, 2008).

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