"Why they are wrong". Analyzing globalization and its impact on the rich and poor (eBook)

Essay from the year 2017 in the subject Politics - Topic: Globalization, Political Economics, grade: 71, Queen Margaret University, language: English, abstract: Globalisation is a highly opinionated topic, which is discussed throughout the years, especially since Donald Trump won the election in 2016 who is now promoting a way of business which is considered to be more in the direction of protectionism rather than globalisation. Protectionism is supposed to protect producers, workers and businesses of the import-competing sector from other countries. Political tools to achieve such a protection of national business are tariffs, regulations on imported goods and other government regulations. This is against what the world has been moving towards in the past decades since WWII. Western society since then has promoted a more global approach of living, including migration, trade and problem solving.

Globalisation is described as the process of increasing the integration of internationally dispersed goods. These integrations include factors such as culture, society and economical, political and informational cooperation. All those factors contribute to the fact that the world is moving closer together rather than further away, how Donald Trump is suggesting. The world is becoming a "global village" with products available in countries that do normally not have access to them, such as bananas in the UK or a Mercedes in the United States.