Globalization of Academic Innovation

Question: Discuss about the Globalization of Academic Innovation. Answer: Introduction The phenomenon of globalization has a long history, which has led to increased economic integration among the countries. Fact that the globalization has transformed the world cannot be denied as it has brought many good things to the developing countries. It has continuously led to the deindustrialization of America. Every major section of world economy is dominated by the globalization. This neoliberal globalization has accelerated the global mega trend of political instability, rising inequality and absolute poverty, which are adversely affecting the lives and threatening the futures of the nation of the world. The aim of the developing a developed nations is to have equitable, domestic, sustainable and free societies in this regard, it is viable to question the benefits of various dimensions of globalization. There are certain issues associated with the dimensions of globalization. One of the major economical challenges faced in globalization is consistent high unemployment that is reinforced due to increased population growth rate and labor force. One of the major challenge posed by increased reach of global markets. This increase in inequality majorly happens in China and India. This increase in inequality in and across countries encourages the emigration process of highly skilled citizens. It had been criticized that globalization is dis-equalizing in most of the domains. Critical Analysis on Globalization Unequal Globalization- One of the major challenge posed by increased reach of global markets. There are several reasons considering tremendous economic gains in association with deeper as well as efficient global markets (Spring 2014). Most of the integrated trade markets, global technology and capital flows give rise to increase the demand for skills in a rapid global environment. This increase in inequality majorly happens in China and India. This increase in inequality in and across countries encourages the emigration process of highly skilled citizens. It had been criticized that globalization is dis-equalizing in most of the domains. One of the classic examples is market failure. In the global markets, it tends for dis-equalizing aspects such as global security as well as shared prosperity and global social justice (Sassen 2015). Large debt burden of developing countries- It had been witnessed that there was remarkable shift present in changing economic trends for the past few years (Pieterse 2015). There occur issues like current account imbalances, volatile capital flows as well as misaligned exchange rates and finacialization. This affected the commodity markets and faced severe crisis in the developing countries (Altbach 2015). Debate continues by properly discussing relevant monetary, income policies as well as fiscal policies for addressing the continuing fallout from severe crisis. Therefore, International community is falling short due to delivering solutions especially for minimizing the long-standing challenges of aspects such as poverty, climate change as well as food security and debt burden (McGrew and Lewis 2013). Protectionism despite WTO- Evidence showed that there was hidden protectionism that was hard to monitor and count at the same time. After the global financial crisis, there had been cited instances of Governments where measures had been undertaken by playing in favor of domestic commercial interests (Kaplinsky 2013). This protectionism takes into consideration WTO global architecture of trade rules as well as spread of regional trade agreements. In contrast, McGrew and Lewis (2013) stated that in the current years WTO and several others have started warning regarding protectionism. WTO reports are deemed trade-based developments that cover overall WTO membership along with observers. Large-scale environmental degradation- It is argued that trade reduces pollution because of greater competitive pressure or greater access for greener production technologies. In this globalization era, developing countries enhances their interdependence with the help of international trade (Crane, Kawashima and Kawasaki 2016). Widening gap between rich and poor- Globalization widens the wealth gap with advanced economies outpacing the developing countries. In other words, Globalization has increased prosperity in and across the world whereby people in advanced global economies benefits disproportionately in the recent developing world (Breznitz and Etzkowitz 2016). Globalization has narrowed down poverty between rich as well as poor from one country to other. For instance, GDP per capital in China and India whereby economic reforms enters in the global economy considering WTO membership for improving the average income of population Socio-Cultural Homogenization Cultural Homogenization is an important aspect of cultural globalization and it is considered as one of the main features that lead to decrease in cultural diversity. It takes place through diffusion and popularization of broad display of symbols of culture. This occurs among physical objects as well as among values, ideas and customs. According to Altbach (2015), the process by which the local cultures are absorbed or transformed by an outside culture (dominant) is termed as Cultural Homogenization. It has been found that this cultural homogenization has supported and played a great role in globalization. For example, people of any country can enjoy the identical taste of coffee of Starbucks by sitting in their homes. It has been found that within less than half a century, Starbucks coffee chain has expanded from one outlet in Seattle to about 20,000 shops across the world in 60 countries. Less Diversity According to Kaplinsky (2013), the discourse about the impacts of globalization on cultural diversity is considered as a challenging debate. However, Breznitz and Etzkowitz (2016) argued that the advancement and the modernization of the technology has dissolved the boundaries among various international countries and has opened the culture to a new arena. Therefore, it can be said that less diversity enables in occurring globalization successfully. For example, the most common language is English that is used all over the world and therefore, it can be said that globalization has resulted into decrease in diversity. However, it has been found that globalization has also some negative effects on the factor of diversity. These include the globalization disempowered the people through misrepresentation, colonization takes place so loss of individualism takes place. Moreover, it can be said that globalization can lead to loss of identity. Struggle over Scarce Resource As per Pieterse (2015), the globalization leads to increase in demand for the resources. Therefore, it resulted into scarcity in the resources as the globalized business means huge customer base and therefore, in order to fulfill the demand of the clients, more production is also required. Thus, it can be said that due to globalization, some of the entrepreneurs have to struggle for getting resources for the manufacturing or production of the goods. For example, scarcity in the natural resources hampers many businesses. Wars Opined to Spring (2014), the globalization always does not result into peace, rather it originates war among the entrepreneurs as well as among the countries. The reason behind this is that the globalization of a particular business hampers the local business in the same field by occupying the local market by international products. For example, the products of China have occupied the markets of other countries. Technology Dimension According to Majeed (2015), the world has become economically and culturally alike because of globalization. Presently, globalization is regarding the shrinking of the world due to the revolutionary changes within the technologies of transportation and communication. It produces the newer and uneven development. Ethical Dimension It has been found that globalization has resulted into respect for the global worker rights. Therefore, the satisfied workers perform ethically and provide better performance in their work. Economical- Economic challenges faced because of the effect of globalization in Arab includes short term political wrangling that can be observed from several economic excursions of youth within the Middle East. Moreover, inequality can affect social cohesion that results in issues such as high violence. Political- Globalization is observed to bring out problems such as global conflict, environmental issues, terrorism and insufficient political institutions for dealing with them. Political issues takes place for the reason that globalization impacts employment and economic status of people. Impact of Globalization on Arab Countries It has been found that oil is considered as a resource on which the economy of UAE depends and due to globalization, the market of oil has expanded largely and thus the economy of the country is enriched. Therefore, globalization leads to creation of new job opportunities in UAE. Globalization influences on the reality of Arab and this impose the conditions on the nation of Arab by not there apparition. However, according to the concept of colonialism, without providing Arab interests any effect, as it did not raise a prototype of commerce with them, if that model negatively or positively, and alternative to the probabilities or revolutionary slogans might lack impartiality. Conclusion At the end of the study, it is concluded that Globalization resulted considering best interest of both developed as well as developing countries. The above report discuss the issues concerning with dimensions of Globalization. The assignment brings into account the potential causes whereby globalization is lacking in serving the developing countries to achieve future prosperous life in terms of poverty, unemployment and other issues. Therefore, it can be said that the dimensions of globalization have both positive and negative effect on the international market. Reference List Altbach, P., 2015. Higher education and the WTO: Globalization run amok. International Higher Education, (23). Breznitz, S.M. and Etzkowitz, H., 2016. University technology transfer: the globalization of academic innovation. Routledge. Crane, D., Kawashima, N. and Kawasaki, K.I.., 2016. Global culture: Media, arts, policy, and globalization. Routledge. Kaplinsky, R., 2013. Globalization, poverty and inequality: Between a rock and a hard place. John Wiley Sons. Majeed, M.T., 2015. Distributional Consequences of Globalization: Is Organization of the Islamic Conference Countries Different?.The International Trade Journal,29(3), pp.171-190. McGrew, A.G. and Lewis, P., 2013. Global politics: globalization and the nation-state. John Wiley Sons. Pieterse, J.N., 2015. Globalization and culture: Global mlange. Rowman Littlefield. Sassen, S., 2015. Losing control?: sovereignty in the age of globalization. Columbia University Press. Spring, J., 2014. Globalization and educational rights: An intercivilizational analysis. Routledge.