Undergraduate / 'problems caused by globalization' - Georgetown: Walsh School of Foreign Service [4]

This is my essay for the Walsh School of Foreign Service at Georgetown. I would appreciate comments on grammar, content, and overall quality. Any suggestions are welcomed!

Briefly discuss a current global issue, indicating why you consider it important and what you suggest should be done to deal with it

There once was a rich and prosperous family which lived among a group of poorer families. Although the family enjoyed financial abundance and avant-garde technology, its neighbors continued to live destitute and unsophisticated. The family - bounded to its barren and fruitless surroundings - could not acquire food or socialize despite its purchasing power and affluence. Eventually, the family fell victim to its environment, and joined the others in the depths of stagnation and destitution. This allegory relates to the ineffective cooperation between countries in todays globalized world, which ultimately leads to the elimination of productivity and economic stagnation.

In an age in which our lives have become more subjective than ever to the increasingly hastening rate of globalization, the issues relating to the world as one entity have taken on unprecedented importance. Nowadays, the media is appropriately saturated with news concerning the deficiencies of globalization which have afflicted the entire world, to include economic crisis, environmental degradation, and technological disparity. Although political leaders incessantly converge at summits and meetings to find a solution, the unresolved problems of the world continue to manifest themselves daily.

Today's globalization has bounded every country to one another. Consequently, a country's national problem frequently escalates to become a world issue. A nation's interests are no longer confined to its borders, but transcend national boundaries. Countries that were once global powerhouses are paying the price for years of poor administration and speculation, and now have hollowed out industries and economies. The economic stability of a nation is especially debilitated when a nation commits to bailing out another one with a cross-border lending, a phenomenon which can cause a credit crunch that ripples through the entire economy. Furthermore, technological and economic disparities between countries cause human capital flight, or brain drain, the emigration of people with technical skill or knowledge to a more prosperous country. This occurrence leads the countries to which the people travel become far more innovative than the countries from which the workers came, extending the economic, technological, and social divide between countries.

Considering the abstract nature of the problems caused by globalization, it is difficult to propose a definite solution to the issues. However, a series of measures could be enacted to allow the world as a whole, rather than individual countries, to restart and reconstruct. A new, international political and economic identity must be created within national communities to broaden each national government's plan of action, thus encouraging collaboration between poor and wealthier countries. The poorer countries will be able to prevent the emigration of skillful workers if they have more influence over the international financial system. This new identity must be established by educational systems, which must create an environment which stimulates the growth of intellects conscientious and mindful of global coverage. Collaboration at a global level will not only foster the growth of national economies, but also restore the spirit of competition necessary for scientific and technological advancements.

Thanks!