While the positive impact of globalization on economic growth around the world is remarkable, the other side of the story should also be brought into light. In this essay, I would like to discuss both views and provide the reasons why I count myself as an opponent against this idea.
On the one hand, it is undeniable that globalization strengthens the cross-border exchange of goods and services. Moreover, technology and education become more accessible, opening up a horizon of opportunities to exchange knowledge and culture for students from any corner of the Earth.
On the other hand, economic growth is not always parallel with social development in the context of internationalization. The rapid growth of the economy intensifies the culture of hyperconsumerism, the phenomenon where people make purchases based on the algorithm of the social media platforms and fear of missing out, rather than their own needs. This affects mostly young adults who lack financial management skills, causing them to max out their credit cards and be in debt at an early age. Furthermore, the dark side of internationalization hides within the population segmentation. This is hindered by the divergence of income levels between citizens and nations across the globe. It is this deepening of poverty and inequality that provokes the increasing crime rates, raising concerns for security before prosperity regarding the goals of globalization. Human trafficking, arms trafficking, terrorism are some of the examples to illustrate the potential hideous outcomes of lucrative centric development.
To conclude, internationalization bridges the gap of economic exchanges between countries while social development is put aside. Personally, the simple solution lies within the power of the governments to take account of their social responsibilities while promoting economic growth correspondingly, rather than separately.