Globalization and Governance
The technological advancement has greatly enhanced the world inter-connectedness in terms of production, business operations, communication and this is what is commonly referred to as globalization. Globalization is said to be a movement that is pro-free trade, pro-prosperity and anti-poverty, (Nash 22 Apr. 2008) and some of its positive aspects include, (i) international trade that will bring about competition, (ii) it will force countries to exploit their comparative advantage, (iii) consumer choices will be widened and (iv) prosperity will be widely spread globally (Nash 2008).
The advocates of are of the view that by opening borders accompanied with the systematic reduction of trade barriers will subject businesses to market forces besides the competition will compel countries to produce goods that they have comparative advantage. By being exposed to goods from various parts of the world, consumers have a variety and hence purchase what is considered to be value for money. Competition will lead to overall reduction of prices, and the savings can be used to buy other items thereby improving the overall standard of living (Nash 2008). In conclusion the advocates argue that globalization will spur innovation, and hence production of quality products and in the process economic growth will take place that will strengthen and expand a middle class which will be a force for political and individual freedom (Weidenbaum March 5, 2003).
The American critics of globalization say that the loss to US includes (i) flight of its high-skill, high-wage information technology jobs, (ii) manufacturing will be shifted to low wage developing countries (iii) Offshoring amounts to exporting American jobs (Tonelson 16 July 2003). The critics continue to argue that globalization and the emergence of developing nations as centers of manufacturing and technology for US firms are speeding up the decline of manufacturing in US. In addition, the oversupply of skilled or highly trainable workers in developing countries will lead to the stagnation of wages or even decline that will make it difficult for those workers to buy US made goods thus making the revival of US firms impossible. Tonelson (16 July 2003) concludes by recommending the reduction or shutting off the outsourcers access to US customers to force US manufacturers to come back home that is US.
2. Collective governance
Governance entails the management of power and policy and when exercised by a group of people or countries then it said to be collective governance as every member of the group is accountable for the decisions and actions taken. To have world government will entail countries ceding their authority to that government that is being subordinated to the world government, and in order for such collective governance to succeed, the following factors are desirable according to Spero et al pp 437-438 first, basic consensus among the powerful such as the United States, the European Union, Russia, China and Japan is necessary if collective governance is to be achieved, second stock of the experience in cooperation since World War II, such as the establishment of the Security Council, must be taken into account. What is needed is the facilitation of the formal and informal methods that have been developed over the last four decades such as the establishment of the World Trade Organization that ushered in the rule based trading system, widening of the role of the International Monetary Fund, and the World Bank and finally the G8 which is an informal gathering of the highly industrialized countries should be expanded to allow the participation of more countries.