Summary on "Assessing Globalization: Benefits and drawbacks of trade and integration" (Final Draft)

Kohut and Wike (2008) state that most people in the world welcome the concept of an interconnected world. People in many countries, especially in less developed countries are in favour of a globalized economy with global trade, international organizations and free markets as it leads to economic progress in these countries. However, the passion for economic globalization is diminishing in many developed countries. Despite the mixed views on economic globalization, most people are united in expressing their concern about the negative impacts of globalization. They are worried that the disadvantaged groups in the society are unable to benefit from the economic progress, resulting in increasing inequality between the rich and poor. Moreover, the environmental degradation due to economic progress has caused people to support the view that economic development should not put the environment in jeopardy. There is also a call for the preservation of local culture in order to prevent the loss of local traditions and identity threatened by overwhelming foreign culture. Many locals also expressed the need to limit the influx of immigrants as they feel that immigrants have a negative impact on their country. Therefore, the perception towards globalization is dependent on the impact that globalization brings to the economy and society.

Source: 
Kohut, A., & Wike, R. (2008).  Assessing globalization: Benefits and drawbacks of trade and integration. Harvard International Review, 30 (1), 70. Retrieved from: http://search.proquest.com.libproxy1.nus.edu.sg/docview/230903646/fulltextPDF/13F46BB00A0689BAE1B/22?accountid=13876