Ethics and Global Business Essay Example for Free

Ethics and Global Business EssaySkyscrapers, malls, restaurants, hotels, resorts, city lights, busy highways, and halcyon businesses- without a doubt, China has already blossomed from a sleeping nation into an sparing giant. From a orbit that erst speckle resisted the ball-shaped rack upet, it now thrives as one of the leaders in world economy. In fact, China comes in with the second largest Gross Domestic Product last 2008 with a total amount of $7. 8 meg (Guthrue, 2006, p. 7). This invites this country one of the fastest captureing nations in the world. This great stride is the result of Deng Xiaopings dream and effort for economical reform.Over the past 30 historic period, globalization helped tore down the trade barriers which in turn, expanded the Peoples Republics investment, businesses, and knowledge. The effects of globalization in China be simply staggering. In fact, it is even impossible to imagine that some 25 to 30 social classs past this country is kn own only for its history of policy-making and economic problems escorted by social turmoil and fragmentation (Guthrue, 2006, p. 7). Chinas path towards economic reform began during the late 70s when its giving medication started to fit a more pragmatic action to its numerous political as tumesce as socioeconomic dilemmas.This different perspective resulted in the decrease of its socialist ideology in the countrys economic policy. During this time, the government focused its attention in economic productivity by introducing new management methods in its industrial, agricultural, financial, fiscal, as well as sedulousness sector. In 1984, Chinas idea of peoples commune was eventually eliminated after its 25-year existence. Private ownership of agricultural and industrial production assets were decl ard legal, while workers were encouraged to find private employment.Apart from this, belittled enterprises and businesses in country-style areas excessively came in by the numbers . This resulted in increased competition as well as an increase in trading (Guthrue, 2006, p. 7). These small steps helped this country prepare for its great leap forward. Chinas economic growth finally came in when the government decided to fully integrate its economy with the international market. Efforts were then made to make several Chinese regions open for abroad investments. Incentives and favors on taxes, patents, as well as contracts were passed as a way of attracting international investors.Although the governments efforts to draw foreign investors were on full force, its bureaucratic issues such as political corruption and social fragmentation caused its vision for economic reform to slow down. flash eventually surged in which then caused the country to lag behind considerably. By the early 1990s, China re get ined its momentum as its leader Deng Xiapong suggested various pronouncements geared towards reinventing and renewing the countrys goal for economic reform. Th is label Chinas growth to function one of the worlds economic giants.The following years saw how this country quest to improvement not only its economy but excessively administrative system. By 2003, the government proposed several policies and amendments to address its ever changing economic system. Legislators also placed in a new emphasis on balancing the income distribution in both urban and rural areas, reducing unemployment rate, improving equity, while at the same time protecting its natural resources. In 2005, the government approved a five-year economic program which is geared towards creating a harmonious society.This program eventually calls for a 45 percent growth in its Gross Domestic Product as well as a 20 percent decrease in its energy consumption by the year 2010. Apart from this, the program also underlined the importance of an improved education, social security, as well as medical care system (Guthrue, 2006, p. 7). From the 70s up to the present, Chinas effort s to development their economy allowed them set out as the second largest GDP in terms of Purchasing Power Parity and the third largest when it comes to industrial Output (Guthrue, 2006, p.7). Indeed, globalization allowed this country to create important developments as well rapid progress. However, the countrys growth in economic dominance does not only create benefits, but it also creates threats to the countrys culture, tradition, and way of life. Although globalization brings many benefits and advances, it also brings with it several consequences that must be properly addressed. In the paper Urban Development in Global Periphery, Sanjoy Chakravorty (2003) explained that globalization has two varied elements.This includes economic globalization which stirs to the integration of markets and ideological globalization which refers to the political idea that underlie the spread of market, trade, and democracy (Chakravorty, 2003, p. 357). While economic globalization domiciliate b e effectively used to improve and development a countrys economic status ideological globalization on the other hand, can have a congenator detriment to the countys culture and way of life. One of the staggering consequences of globalizations in China is the threat of losing its identity.Chakravorty (2003), explains that globalization is a homogenizing process (Chakravorty, 2003, p. 361). This creates not only an economic but also a cultural mark that leads a country to adapt the values, taste, and even identity of the dominating global economy. Some scholars even refer to this as the Mcdonaldization or the Cocacolonization of a nations cultural identity and value. Although patronizing foreign products can help the economy, there is also this underlying threat that such products may cause the people to bar their own and ultimately adopt the values that the foreign products brings.In the case of China, a country that was erst known for its rich culture, the Great Wall, fascinatin g dynasties, and many more, may receive replaced by foreign countersign of McDonalds, KFC, and Coca-Cola. Inequality is also an important issue that must be considered along with globalization. As technology and foreign businesses continue to spread, it is also very likely that the gap between the rich and poor will become wider. Although globalization played an important role in decreasing poverty, this same thing may also create a bigger gap between the haves and have-nots.This is because the income gaps between skilled workers and non-skilled workers will continue to grow despairingly large. This is especially true for China. The income inequality becomes much more prominent due to the huge gain enjoyed by its upper crust (Seeking Alpha, 2007). Human right is another globalization issue that must be carefully considered. Although globalization has exacerbated poverty in many parts of China, it is still important to take crinkle that most of the laborers in this country receive below the minimum wage.The pressures of globalization can lead to labor exploitation especially in rural regions. In this situation, the women and the children are always the first victims. Most women become laborers in a sweatshop setting while receiving a low salary. Children on the other hand are forced to work in factories. The human issues regarding globalization become even worst as the laborers are often subjected in sweat shop settings. Oftentimes, the workers are exposed to an environment which is hazardous to their health. Most of the workers also lack the basic health and accident benefits.Indeed, globalization has delivered the world its promises of economic development and growth. However, it is also necessary to remember and consider the ugly side of this phenomenon. Inequality, human rights, and even the threat of losing national and ethic identity are just some of the many consequences of globalization. Although resolving these issues all at once may be a far cry, it can still be addressed through effective and good governance. teaching and awareness regarding the consequences of globalization must also be implemented and disseminated.References Chakravorty, Sanjoy (2003). Urban development in the global periphery The consequences of economic and ideological Globalization. The Annals of Regional Science 37, p. 357-367 Guthrie, Douglas (2006). China and globalization the social, economic and political transformation of Chinese society. CRC pres, p 1-398. Seeking Alpha (2007). Why Globalization Is Boosting Inequality in ontogenesis Nations. Retrieved May 30, 2009, from http//seekingalpha. com/article/36616-why-globalization-is-boosting-inequality-in-developing-nations.