From Few years, when I completed my Education and joined in the job. I keep on hearing certain words like Globalization, Recession, and Impact of dollar. So, today after few years noticing the markets and trends of the nation I got a doubt whether “Globalization is Boon or Bane? “.Today I want to discuss few points which come up in my mind regarding the above said Terms
Firstly Globalization, as per the meaning of globalization, It talks about the business across the broders of the nations without any restrictions. Yes , For the few years there has been tremendous Change ( I don’t say it has Development) in the culture among the people, Flow foreign currency up to certain extent, so this made us to see a Bump development over a period of time (short span) But, when it comes to Long period I feel everyone is feeling the heat. I feel this are the issues that come up in my mind
1.Since there are no restrictions for trade among the nations Lot of expansions have been done in IT Sector and also in Real Estate Sector (only flow of money)……When it comes to IT sector the Development has been done in two aspects
a. Expansion of the offices, If there is expansion means there is a chance of Employing more people into the company which again leads to more demand for Real Estates Spaces for Officess.But if we observe keenly this expansions has given chance for Business Growth of certain Companies like Mc Donald’s , Domino Pizzas. Which changed the eating habits of the people in this sector never mind if there are good or bad to the health of the people
So, this has been given a chance for development and employment of the people, But what about these things in Context of “Recession “That is what iam worried about Recession-Occurs when there is wide spread of down of spending money among the public so, this case not completely depends upon one nations Economy as stated it depends upon Globalisation which is chain of Different Countries ……..and surprisingly the trade among different countries will be done in terms of Dollars.Which has become weak During the past few years and I feel “USA is cause for the Present ……….Situation of Present Crisis”
The Problem across the world has started……From USA Where Too much of government spending compared to too much government earnings…this is the situation of the USA and other European countries if , We want example we can take “The WAR lead by the nations on Iraq and cost incurred by the countries in other operations in middle east”
Since there we have an economy which is Globalised , There has been effect in one country and panic started from all the other countries since the flow of money is chained from country to country and also this lead to psychological change amoung the people to save more and spend less This lead to “RECESSION”. In simple sentence Globalization is not a Boon but a Bane to economies like India.
So , Lets don’t dream or think about EVIL “US Dollars and their practices “ for the time being .Lets Spend and also invest more in all the forms which makes our Banks Rich…Let me remind one thig”We Indians are Great Savers but not Great Investors” Which does not produces anything if we save so please try to innovate , think and invest make our economy great
Sometimes I think why we shd Import Crude Oil , Fucking Dollar , We can make this exchange in other form like Commodity exchange which is scarce in Arab countries or in exchange of man power which we have abundant ,this leads to low demand of Dollar. Again if we do this I feel , ITs Sector will be effected since the payment for IT sector will be made in form of dollars
That the reason I stated the Title of the Page as Globalization Boon or Bane
