Globalization

Homogenization

Globalization has therefore been connected with various aspects thus finding it difficult come up with appropriate definition. However, from the above information, globalization can be taken to refer to a kind of phenomenon that involves the rapid increase in social, cultural, economic and more so technological exchange between the world’s countries. This paper will emphasize on economic dimensions and political dimension of globalization.

This paper will look into a hypothesis that globalization consist of homogenization in consumer’s mind and behavior as one of the effects of globalization on consumers.

It has been argued that consumer ethnocentrisms really play a big role between global openness and the reluctance of consumers to buy (George, 2003). However this scenario is decreasing rapidly. Ethnocentrism in consumers is a major determining factor in the magnitude of reluctance to buy a foreign product.

Consumers in different cultural backgrounds have different attitudes, perceptions preferences and tastes and values affect massive wave of globalization. It is no longer taken for granted the notion that global thinking would at the end break the chain and walls of economic nationalism and chauvinism (George, 2006).

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There has been an argument over whether consumers are also globalizing just like companies are doing. It is clear that there is phenomenon of neo-nationalism that resists buying of global goods and services-globalize in buying behaviors.

Globalization is typically a human process

As globalization is typically a human process rather than just a technical process, it is therefore honorable not to dismiss the unique culture and psychology of a particular nation or region in determining the characteristics of the processes and also the consequences of globalization of the nation (Douglas, 2001) The processes of economic globalization that affect the openness of a consumer vary from culture to culture.

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The psychology and culture of a particular country can determine the characteristics of the global consequences and processes.

In order to treat consumers fairly in the markets created by globalization, then there is need for better organization. Globalization process has brought about an endless debate by its advocates and opponents (George, 2003). There are those who support it arguing it has advantages ranging from job creation to increasing wealth for people in various countries. However, there are groups of people who think otherwise especially for the developing countries.

Free global trade process

Free global trade process only benefits the superpower countries. There has been big concerns’ regarding the impact of globalization on poor economies. In as much as free trade is being advocated for worldwide, it has not been fair to all nations and especially the developing economies. It is clear that Europe and the US have not opened their markets to agricultural products from developing countries such as African countries and Caribbean region.

Is this not a western paternalism rather than a true partnership (George, 2006)? Globalization has various impacts especially on growth and income distribution, investment agreements in addition to decline in job security for workers. The most felt impact is on the consumers. Globalization of the economy provides extensive range of goods and services to customers that were not easily available before. The rights of customers must be protected especially in this new market places brought about by globalizations.

Otherwise they will pay a high price (Franklin, 2000). The challenges faced by consumers from globalization must be tackled from at all cost. The government ought to provide the legal framework, develop and enforce implementation of consumer policies. A study has shown that there are very few countries that have enacted consumer protection legislation and national consumer policies especially in developing world. They do not have consumer protection mechanism.

It is thus advisable for consumers to join hands and form groups as a means of protecting and more so educating themselves on the way forward in demanding for consumer protection policies and legislation from their governments (George, 2006) It is within the rights of consumer groups as stipulated by consumer international to speak out against the global markets that unleash market forces that are not amicable to the interest of the consumers.

Cite this page

Globalization. (2020, Jun 02). Retrieved from http://studymoose.com/us-markets-new-essay

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