Globalization vs. Fundamentalism Term Paper

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GLOBALIZATION vs. FUNDAMENTALISM

Globalization is now a much hyped, much discussed and extensively debated subject. Whatever anyone says about globalization sounds cliched and trite. But nonetheless it is an important subject and thus needs to be paid closer attention to. In this area, Friedman is considered an authority. According to Friedman, globalization is the result of the power struggle between the powerful economies and their slower counterparts. He is of the view that to understand globalization, we need to focus on the differences between fast and slow growing economies and we would then be able to see what the whole issue is about.

A cannot say if Friedman would agree with Roach's views expressed in his article "A Tipping Point for Globalization" but after reading both pieces of literature, I have come to the conclusion that Roach has sound and fresh views on the subject of globalization.

Let us understand why globalization may be coming to an end by first taking into account what Friedman says about the process of globalization.

The driving idea behind globalization is free-market capitalism -- the more you let market forces rule and the more you open your economy to free trade and competition, the more efficient and flourishing your economy will be. Globalization means the spread of free-market capitalism to virtually every country in the world. Globalization also has its own set of economic rules -- rules that revolve around opening, deregulating and privatizing your economy." (Chapter one: Tourist with an attitude)

He is of the view that globalization is simply the result of free market economy through which capitalism has made an entry into foreign markets and American has thus been able to spread its influence to every part of the world. But since you mentioned that after September 11, corporation would need to think twice before taking their production overseas, I feel this can lead to the end of globalization which according to Friedman was the by product of rapidly growing capitalism.

Friedman is of the view that globalization is not a simple process because it involves numerous events and sub-processes. This is in accordance with what Roach said about the tipping point of globalization.… [END OF PREVIEW]

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