Effects and Prudence of Globalization - 948 Words

Globalization is a very controversial issue that has attracted massive attention in the past few decades. Globalization has impacted people across the world in personal, social, political and economic fields. The effects of globalization are numerous. People across one country today eat from the same restaurants, wear the same clothes, speak the same language and drive the same car as people from the opposite side of the globe. Instant communication with people is easier today than ever. The consequences of this rapid globalization are subject to interpretation. People, in general, tend to be biased about the net results of globalization. World leaders, however, have taken tangible steps towards encouraging a peaceful globalization.†¦show more content†¦Thus, people got fearful of losing the aspects they cherish in their particular identities like their cultures, traditions and religions. This fear is noticed and observed by people across the world in different shapes and fo rms, both physically and verbally. Pew Global Attitudes Project (2007) writes that But there are widely shared concerns about the free flow of people, ideas and resources that globalization entails. In other words, people are worried about the consequences of ease of entry for foreign people, foreign ideas and foreign resources into the countries. Losing the culture and values is a real threat to peoples core identities. Consequently, this fear has occasionally led to violence, regulatory defense mechanisms against free trade and strict censorship against foreign ideas contained in books, movies and music. Furthermore, globalizations has led to damage to the environment, but environmental dangers are exaggerated. Given the mass level at which many companies operate, the production process naturally requires more raw materials. This entails more trees being chopped, more oil manufactured and more land used for construction. However, the media has, in many cases, inflated the environmental concerns by using unscientific methods, inaccurate figures and biased footage to inspire fear against globalization. Charles (2004) writes in his article The Environmental Benefits of GlobalizationShow MoreRelatedAdvantages Of International Accounting Standard 161446 Words   |  6 Pages France, Australian and so on. Compare with revaluation method, history cost method will decline the comparability of the market. As we all know, from the 21 century, network, communication, and transportation were enhanced very quickly, so globalization of markets has a huge scale and international trade is highly common for all the country. Therefore accounting is more important for a cooperative or competitive partner. 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