Anna Tsing has defined globalization as a way of interaction among the people, organizations, as well as arms of different nations. The process of globalization is activated by commerce, various types of investments, and information technology among others.
On the other hand, the impacts of globalization are widely felt on the environment, cultural practices, political aspects, and in the advancements of the economies globally (Appadurai, 32). Moreover, the welfare of the human beings also depends greatly on the globalization. This essay will be focusing on the argument of Anna Tsing on globalization with regard to economic industry.
Globalization is believed to be in existence for thousands of years. People in the past were interacting in trade by buying and selling to each other at great distances. Later, the corporations as well started investing in different nations at different levels. The cross border interaction through trade and investments has resulted to policy and technological advancements in the past few years (Tsing 345). This type of advancement has enabled the world to enter into a new level of economic development.
The trade interaction among different nations has increased by 20 times since late 1950s to current times. The current globalization in the economy is positively defined as it is faster compared to the past, it has cheaper expenses, its effects are running deeper, and its going farther compared to the globalization of some decades ago.
Various flows of the current globalization have come up with strategies of operating economies both inside and outside the countries. This has been made possible through different governments exercising free market methods of economy. The free market economic system has resulted to increased productivity and the provision of new business opportunities where investments can be practiced.
The current globalization has created a path for governments to negotiate the changes of various barriers to commerce (Appadurai 89). Through these paths of negotiations, several international treaties have been made for advancing the commerce of goods and services, as well as different ways of doing investment.
Through the idea of creating opportunities in outside markets, several organizations have managed to establish foreign industries whereby both the production and trade of the final goods and services is managed by their foreign counterparts. The globalization definition by Anna Tsing of being plural is manifested by its diverse nature of encompassing various disciplines.
The economy sector of any nation has so far made a great positive move through the advancements of the information and technology which is one of the major drivers of globalization.
The different arms of economy such as consumers of goods and services, different types of investors, and the traders have been empowered by the advanced information and technology to utilize the upcoming business opportunities (Tsing 333).
These economic actors are able to make more informed decisions concerning the prevailing trends of the economy globally, through the help of the advanced information and technology. The process of shifting assets is understood better by these actors better and is done faster through collaboration with the right partners.
The diversity of globalization has proofed to improve the standards of living of the underdeveloped countries together with their citizens economically (Appadurai 124). Though globalization is associated with both benefits and costs, analysis shows that the benefits are outweighing the costs and such it should be adopted by the majority as part of the developments.
The opponents of globalization try to claim that the issue of free market is of being of benefits to the western world at the expense of the underdeveloped and the developing worlds.
Appadurai Arjun. Globalization. Minneapolis: University Press, 2001.
Tsing Anna. “Global Situation”. Cultural Anthropology volume 15, issue3, pages 327-360, August 2000.