Term Paper: UAE the Global Village

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[. . .] To achieve a higher SOL in the near future, the global village will have to currently save more (Mankiw, 2004). Abu Dhabi plans on investing a total of Dh555 billion in the upcoming 5 years, of which, Dh320 billion will be allocated to construction, Dh120 to the development of the tourism industry, and a total of Dh80 billion on seeking to expand the natural resource sector. Furthermore, investments on hydrocarbon industries have increased as it seeks to create alternative revenues from sources independent of these natural reserves (United Arab Emirates 2007, 2007, p.81). The investment by UAE might cause some consumption hurdles at present, it is a long-term measure that is likely to lead to a brighter future for its citizens.

Free trade is being promoted between other countries and the global village of UAE because of rapid globalization. This trade has enabled UAE to invest goods from abroad that are much cheaper than those produced at home. Though foreign goods, or imports, hurt domestic producers as demand for their products fall and they are likely to lay off workers, thus increasing the rate of unemployment (Mankiw, 2004), it is also possible that it creates more job opportunities in other profitable industries of UAE such as those of oil and those of gas.

Global factors of Globalization and their local impact on UAE

Following are some of the factors of globalization seen all over the world. Influence of these factors on UAE has also been documented by a number of scholars (Domluke, 2010).

Spread of Technical Know-How

It is generally said that innovative and technical inventions are only made in the Western developed countries. If, the concept of globalization or global village does not exist then these inventions can only be used in the countries where they were invented. The spread of these inventions not only enhance the life style of people in developing countries but also make people aware about the political and economic conditions of neighbouring as well as western developed countries. A very good example of spreading useful knowledge is the usage of Yoga and Ayurveda medicines in the western countries, which are Indian traditional practices used for curing many diseases. The Western antibiotic medicines are easily available in India, which have improved the common man's life quality (Domluke, 2010).

Spread of Culture

No civilization can be perfect in all aspects. Civilizations are made when people belonging to different cultures unite and live together at one place. Normally if people are receptive they find drawbacks of their own culture and try to adopt other cultural norms which they found to be devoid of those flaws with time. In this way societies get larger because people of different cultures and civilizations merge with one another and generate an entire new culture of that particular society. Globalization has brought people of different countries closer by spreading customs, languages, cooking and clothing styles all over the world. Different famous art forms like music, movies, and theatres have greatly influenced the cultures of different countries (Hussain, 2010).

Spread of Education

The world has now become a global village and media has reduced the distances. In this global village people belonging to different cultures have come closer in many ways. Spread of education throughout the world is one of the major positive effects of globalization. Now people can go anywhere for higher studies without facing any problem of cast, colour and creed. One can move from U.S. To other continent for his field of interest which is not found in his own country. People can go for specialization in their fields to different countries and then serve their own country by using that speciality. Here an example of American managers can be quoted that they went to Japan for specialization in mass production and then used their education to enhance their country's product units (Zoi, 2010).

Legal and Ethical Effects

There was a time when it was difficult to punish the criminals because of the limited jurisdiction. One more benefit of globalization is that, now criminals cannot get asylum in other countries because of international courts for justice and they can be punished then and there in any part of the world. Globalization has brought many countries closer by having relations between security agencies of two or more countries who work together against terrorism. Thus, now criminals cannot find shelter in any country (Khazraji, 2009).

Negative Effects of Globalization

There are certain drawbacks of globalization also. Like many organizations of developed countries have outsourced their business of manufacturing or white-collar jobs to the people of developing Third-World countries such as China, India and UAE to reduce the cost of labour which is very high in their own countries. The most common and prominent jobs are related to the field of customer services. As in the developing countries people are fluent in speaking English and ready to do these jobs at only one-fifth of that a person does in developed country and calls it a low pay job. However, this situation is not favoured by the people of developed countries as they have accused the companies of taking their jobs and giving to other people. Americans also have problems with the quality of customer services they usually get that is why they are against the outsourcing phenomenon (Abdullah, 2009).

Many schools of thought claim that globalization has enhanced the problem of child labour, where companies can easily bribe officials in such countries where government rules and regulations are not severe or firmly intact. This contributes to the overall percentage of illegal activities. Though globalization has led to a highly competitive market, it has also resulted in increased unethical practices (Abdullah, 2009).

Both developing as well as developed countries have complaints regarding the impacts of globalization. Cities have become garbage dumps through the accumulation of waste by factories, further contributing to the high levels of pollution (Abdullah, 2009).

The developing countries are experiencing the rapid growth of fast food chains such as KFC and McDonalds, which implies that consumers now have greater access to unhealthy foods that result in adverse effects on their health. Furthermore, it is also argued that due to globalization, new stream of restaurants and hotels which have opened up seem to be completely insensitive to the religious beliefs of the citizens of the country they are running operations in. For instance, when it was discovered that McDonald's in India had been serving beef to its customers, a lawsuit was filed against it (Abdullah, 2009).

Income and wealth inequalities continue to increase, with the rich having ample resources while the poor struggling for a decent meal. A quick recall of this can be reflected by the Wall Street protests. However, no notice seemed to have been taken in this regard, or any measure implemented to reduce the levels of poverty. In an ideal situation, globalization was supposed to have created mutual benefits for everyone in the form of prosperity and wealth, but inefficient government and greed has played a major role in the unequal distribution of wealth (Abdullah, 2009).

Many international conferences have been seeking to confront the serious threat of environmental degradation, and it is widely believed that globalization has further elevated the issue. Increased demands by factories for raw materials has depleted the world's resources to dangerous levels, as well as polluted the air we breathe in, which is threatening our very survival (Abdullah, 2009).

Conclusion

UAE seems to have greatly benefitted from globalization because of the tremendous increase in investments, both foreign and domestic. Furthermore, such benefits have promoted the notion of free trade between other countries and the UAE. Recent statistics suggest that the nominal growth rate achieved by UAE was 26.3% while the real growth rate was 8.2%. These figures promise a bright future for UAE ahead. In addition, UAE has been transformed into a developed country in many respects through the phenomenon of globalization. Infrastructure, social relation, media, and education levels have also improved. If UAE keeps following the same track, it is bound to become one of the major players on the world scene.

However, it is also clear that that the drawbacks of globalization have also impacted Dubai. Despite its drawbacks, globalization has brought the world closer in the form of economic cooperation and increased trade. However, measures should be taken ensuring that developed countries do not benefit at the expense of the developing ones. All countries should be given equal importance on the world stage, irrespective of their populations, military strengths and economic conditions. Outsourcing has caused many in the developed world to lose their jobs, while those working in the under-developed countries face humane working conditions. These are some of the harsh realities of globalization that need to be tackled. For instance, corporations that are making hefty profits at the expense of labour in developing countries needs minimize these adverse side-effects, and… [END OF PREVIEW]

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