Globalization Myths and Threats the Essay

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A market that dominates more than political and social outcome results in the unequal spread of rewards and opportunities while wealth and power concentrates in a selected population, corporation or nation, hence others are left marginalized (Kim, 2010).

Globalization leads to wealth creation: however, this is only for the few elites occupying the hub of the processes. They enjoy benefits accruing from the surge of global scale financial, technology, mergers and consolidation activities. Recent figures evidence how this has worked. Benefits have only concentrated in certain areas that the total number of world billionaires has increased by 30%, only in the last three years. Collectively, these are only 520 individuals whose combined salaries are worth more than combined salaries of 100 bottom employees (Ferrara, 2010). Such a scenario is only poised to prompt threats to the nation of Thailand.

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While there may be free trade between Thailand and trading partners, products and services manufactured in Thailand are likely to face major obstacles. This is due to increased competition in the labor market, products and service sectors.

In a competitive trade market, the country offering competitive advantages in different sectors are likely to emerge as the market winner. This includes embracing mastery of technology and science in producing and offering quality services and goods. This has been a major problem facing developing nations such as We are left to wonder whether Thailand will be able to address competition issues precipitated by global competition. For this reason, Thailand can become an economic performer it its local markets. For Thailand to survive the threats of globalization and free trade, it must recruit enough and qualified human resources in all sectors of.....

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