Gloalization of Spain Term Paper Example | Topics and Well Written Essays - 1500 words

Gloalization of Spain - Term Paper Example This isn’t a reason to turn away from globalization, but it is a reason to be vigilant. This essay will look at the way Spain has become more dependent on other countries through the process of globalization and it will suggest that this has mostly been for the best. Although the exact moment of globalization occurring in Spain is a highly debatable question considering the length of Spains history and its extensive involvement in world affairs, it could be said that 1990s marked the rapid acceleration of the period. Spain decided to go full steam ahead with economic global integration. While other countries were slow to see the positive ramifications of globalization, Spain was not. It saw what it wanted and it struck. After many years of sclerotic economic growth under Franco, Spain was ready to reengage with the world again.1 Of course, with current economic events shaking the world economy, we begin to see some of the potential negative effects of globalization for Spain. The problems point to one of the serious drawbacks of globalization: when you open your economy up to the other economies of the world you can get very rich as long as they do well—but you also become very vulnerable to their problems too. This is something Spain has become concerned about regarding the E.U. in the past, and now with the American economy in shambles, it must again revisit this difficult situation. The global economic crisis has shown that interconnectedness can bring with it negative consequences. While a rising tide lifts all boats, a severe drought makes everyone thirsty. This is a problem that will have to be negotiated on the world stage. Spain has a number of economic problems that result from this, including high unemployment. But in the course of this important debate it is important to remember the benefits that have come with