Salary 9 Huge Globalization Pros and Cons Globalization is one of the most important topics being discussed economically and politically today.
Information and money flow more quickly than ever.
Goods and services produced in one part of the world are increasingly available in all parts of the world. International travel is more frequent and international communication is commonplace. Globalization is an economic tidal wave that is sweeping over the world.
But before drawing any conclusions on how it affects the U.
The Disadvantages of Globalization Multinational corporations are accused of social injustice, unfair working conditions including slave labor wages and poor living and working conditionsas well as a lack of concern for the environment, mismanagement of natural resources and ecological damage.
Multinational corporations, which were previously restricted to commercial activities, are increasingly influencing political decisions. Many think there is a threat of corporations ruling the world, because they are gaining power due to globalization.
Opponents say globalization makes it easier for rich companies to act with less accountability. Anti-globalists also claim that globalization is not working for the majority of the world.
During the most recent period of rapid growth in global trade and investment, toinequality worsened both internationally and within countries.
Some experts think that globalization is also leading to the incursion of communicable diseases. Globalization has led to the exploitation of labor. Prisoners and child workers are used to work in inhumane conditions.
Safety standards are ignored to produce cheap goods. There is also an increase in human trafficking. The Positive Side of Globalization Globalization has a positive side as well. Supporters of globalization argue that it has the potential to make this world a better place to live and will solve some deep-seated problems like unemployment and poverty.
The marginal are getting a chance to exhibit in the world market. Here are some other arguments for globalization: The proponents of global free trade say that it promotes global economic growth, creates jobs, makes companies more competitive, and lowers prices for consumers.
It also provides poor countries, through infusions of foreign capital and technology, with the chance to develop economically by spreading prosperity creates the conditions in which democracy and respect for human rights may flourish.
Globalization and democracy should go hand-in-hand. It should be pure business with no colonialist designs. Now there is a worldwide market for companies and consumers to access products from different countries. There is a world power that is being created gradually, instead of compartmentalized power sectors.
Politics are merging and decisions that are being made are actually beneficial for people all over the world. There is more influx of information between two countries. There is cultural intermingling.
Each country is learning more about other cultures. Since we share financial interests, corporations and governments are trying to sort out ecological problems for each other. Socially we have become more open and tolerant toward each other, and people who live in the other part of the world are not considered aliens.
Most people see speedy travel, mass communications and quick dissemination of information through the Internet as benefits of globalization.
But what about the American economy? What is good for third world countries like Kenya or countries with tremendous growth like China may not be good for America.
America has been outsourcing both manufacturing and white-collar jobs. SinceAmerican manufacturing has lost some 6 million jobs and has shrunk from a high of 29 percent of the GDP in to 11 percent of the GDP today.
This has happened, because manufacturing work is outsourced to developing nations like China where wages and the cost of manufacturing goods are lower.
In the service industries high paying jobs like programmers, editors, scientists, accountants and medical technicians have lost their jobs due to outsourcing to cheaper locations like India.The terms First World, Second World, and Third World were originally used to divide the world's nations into three categories.
The model did not emerge to its end state all at once. The complete overthrow of the pre–World War II status quo, known as the Cold War, left two superpowers (the United States and the Soviet Union) vying for ultimate global supremacy.
In the passionate debate that currently rages over globalization, critics have been heard blaming it for a host of ills afflicting poorer nations, everything from child labor to . Law is a system of rules that are created and enforced through social or governmental institutions to regulate behavior.
Law is a system that regulates and ensures that individuals or a community adhere to the will of the state. State-enforced laws can be made by a collective legislature or by a single legislator, resulting in statutes, by the .
Globalization is one of the most important topics being discussed economically and politically today. It is the idea of slowly shifting to a fully integrated world where all countries cooperate with each other in politics, cultural values, knowledge, and politics.
Get an answer for 'List the advantages and disadvantages of globalization. List answers, not lengthy paragraphs, please.' and find homework help for other Social Sciences questions at eNotes. Is free trade a good thing? The issue of free trade has been a source of debate for centuries, and in this lesson, we will discuss the pros and cons of free trade that have led to this debate.