You should spend 40 minutes on this task.
Even though globalization affects the world economies, its down side must not be neglected.
Write at least 250 words.
The world has become a global village and the word globalization a common term of the 21st century. Globalization means that the world has become integrated economically, socially, politically and culturally through the advances of technology, transportation and communication. As a result, the economies of many countries have got a boom and opportunities have risen up. Although, globalization has offered great advantages, the negative impact cannot be overshadowed.
The major disadvantage of globalization is the impact it had on local markets. With the coming of international products, although the consumer is happier, but the local business men have suffered a lot. In some worst case scenarios, either the person had to close the business or work at lower prices.
The second issue has arrived in the more developed countries. With globalization, the companies in the European or American countries, tend to outsource cheaper work force from Asian countries, leading to high rates of unemployment in these countries. On the other side, the Asian people tend to work for such multi national companies because of the higher salaries as compared to the home companies. This has created a situation of brain drain.
Overall, globalization has surely opened up doors for many providing better jobs and improved economic standards,however the loops are inevitable. In my opinion, the governments and companies must take a more balanced approach in dealing with the issues raised because of globalization, to ensure a equivocal environment to live in.
Show MoreGlobalization refers to the absence of barriers that every country had. Yes, it has helped to demolish the walls that separated us .Globalization, which is the process of growing interdependence among every country in this planet, can be seen as a sign of hopeful and better future by some, but for others it represents a huge disaster for the whole world. That’s why we are going to see the negative effect that globalization has on culture then focus on the ethical disadvantage it brought, to finally talk about the damage it did to skilled workers.
First of all globalization has led to exploitation of labor. We can’t ignore the fact that ethical aspects of international business deserve special attention.…show more content…
Moreover, not only less developed countries are affected by this major change ,skilled workers are by far struggling and trying to survive this unfair misery , they went to college for what ,so they will be replaced by people that don’t even know how to spell their names?! Many American and Europeans are losing their jobs because multinational firms chose the outsourcing strategy by following the world’s lowest cost supplies like the Philippines, Seri Lanka, and Vietnam. Globalization has created an immense pressure on the European employees who are always under the threat of the business being outsourced. Tim Harcourt stated,“Some workers in industrial countries fear that increased trade is bad news for their jobs” (38). Are these powerful international organization aware of what they are causing in their home land countries or are they focusing on their own profit not realizing that this indirectly has also a big influence on them. Finally we are going to see how globalization destroys culture.Every country has its own specific culture, which is a life style ,a way of thinking, eating, speaking, dressing…and globalization is taking all this away from us. What do you think differentiates Dubai .a small country located on the Perisian Gulf Coast of the United Arab Emirates , from the U.S.A? Nothing! In Dubai,every small bulding is being replaced by skyscrapers , McDonalds an American fast food chain has spread out