“In the immediate aftermath of the events of September 11 2001 inside the United States, informed newspaper comment indicated differences of opinion as to how the events may well impact upon the progress of globalisation. With reference to the newspaper content articles supplied, first, discuss these differences of opinion and, second, how far the events of September 11th 2001 may have impacted upon the economy of one's region OR an industry that you just have knowledge of.”
In the immediate aftermath of Sep 11, 2001 attacks there had been several views expressed on the fate of globalisation. The two content articles referred here agree over a deep influence of globalization during the modern-day globe but express contradictory views for the fate of it within the light of 9/11. Globalization was regarded as as “the ‘new economic model’ produced to produce a global economy wherever each the major reasons of production – capital, technology (not labour) – and the social product liberate inside the constraints and regulatory apparatus of the state, creating, within the process, and economy of no cost trade and totally free movement of capital” based on Henry Veltmeyer (2004, Pg 3). Inside the discussion going forward only the economic aspect on the impact are going to be discussed.
Baker in his write-up “Globalisation has survived the terrorist attacks” (FT, Nov 1, 2001) unveils the hidden intention of economic destabilization apart during the political one. The terrorist motive would were achieved if US would have reacted to the situation and disengaged from its modern-day stance of global economic and political integration. Instead US took the stand of a stable leader and continued to champion the lead to of progressive economic internationalism. This was evident inside the continuous economic integration efforts like the agreements with Jordan and Vietnam as well as the efforts for getting China into WTO. The Doha summit to begin a new global trade round at WTO ought to yield success on trade policies. US can also be trying for getting into a deal inside anti-ballistic missile treaty with Russia.
Roach in his write-up “Back to borders” (FT, Sep 28, 2001) upholds the decline of globalization after 9/11, whilst he doesn't deny the deep rooted effect of it, during his times. At this juncture the effect on economy can be well understood by the following statement: “As a result, the repercussions from the attacks have rippled from the American economy and affected the phenomenon of globalization. “As a result with the terrorism attacks, numerous businesses had been forced to shut down or downsize; travel and luxury industries experienced an enormous blow; and trade within the world decreased." (A understand in the September 11th terrorist attack on a U.S.A. in terms of its affect on globalization, 2005). Initiatives right after 9/11 to continue supporting economic integrity had been far lesser than the ill effects with the aftermath which doesn't substantiate the strength of globalization. According to him huge investments will have to be pulled off in the productivity enhancement sector and re-invested in guarding the borders. This will in turn affect the corporate earning power that will directly affect the share holders as their return will dip. After the attacks risk aversion is going to be of prime importance. Calculating the risk involved, the premia to be paid for risky global connectivity will be proportionately higher. All these causes will act like a burden on the US economy which has to also obtain the recovery process. Roach’s view on inequality due to globalization is supported by Henry Veltmeyer (2004, Pg 4) after he says “Globalization has resulted inside the growth of islands of prosperity inside a growing sea of immiseration -the sprouting of super rich billionaires on one social pole and ravages of growing poverty over a other”. All these arguments prove the issue that globalization has few beneficiaries and quite a few victims.
Being a robust program globalization may well withstand the effect of 9/11 which can only be proven by time. Now, in 2005 based on a report by Keith Porter: “The 9/11 attacks changed many things, but globalization will continue, even if the pace or direction is altered”, looks to answer the question of whether globalization withstood the 9/11 blow or not.
The 9/11 attacks have influenced the functioning of several industries inside world. The scope in the after discussion includes the effect of 9/11 on a company method outsourcing and contact centre market in India. Corporation technique outsourcing in effortless terms methods managing the processes to your vendor/answering a vendors customer. This could happen as the vendors cope competency doesn't include managing processes/servicing inquiry calls from his clients and also he has some type of advantage in outsourcing it.
This industry was from the verge of booming when the 9/11 attacks happened. The availability of skilled labour, cost benefit and comparatively safe environment had allured the companies. Right after the 9/11 event the anti-globalization wave caught up which meant anti – outsourcing wave for India. According to Dr. Leif Rosenberger: “9/11 shocked the Indian economy, whilst not as much as with some Asian economies. Growth continues to slow, unemployment is rising, and corporations are heading out of business. Strength within the agriculture as well as other domestic sectors ought to support resilient Indian economy weather the ongoing economic downturn”. This aspect clearly meant that any industry in India would have felt the shock.
Even the BPO industry was faced with several repercussions like downsizing of processes, temporary stop calling instruction etc. The cry of US loosing jobs to India was high. Inside recovery technique several hundred work had been made in US but this also increased the Indian potential to secure jobs. Based on the article ‘The impact of outsourcing on a American worker’ which says “What isn't generally known, however, is that work were made during this recovery, just not in places like New York City, San Francisco, or even Flint, Michigan. Work were produced in places like India, Jamaica, the Philippines, and even Sri Lanka. The National Association of Software and Program Businesses (Nasscom), an association of software program and IT-enabled services companies, estimates that India’s IT-enabled services marketplace grew by 70% during 2001-2002”.
Order your September 11 essay at Orderessay and get a 100% original and high-quality custom paper within the required time frame.
