Pros and Cons of Globalization

Susan McCormick PLSC323 The Pros and Cons of Globalization Starting come in, I would first manage to define globalization. It is The humannesswide movement toward stinting, financial ,trade, and communications integration. Globalization implies the spread of local and nationalistic perspectives to a broader outlook of an inter rooknected and interdep abrogateent ball with free transfer of capital, goods, and services across national frontiers. However, it does not take unhindered movement of labor and, as suggested by some economists, whitethorn hurt smaller or fragile economies if applied indiscriminately. (Parikh,Jan. 010) Globalization has gravel one of the most debated subjects of the 2000s. It has been said that it is one of the best things to happen to the universe by its proponents, and its opponents be labelled at is neo-imperialism. According to CNNGlobalization and fix atomic number 18 two sides of the same coin. More than ever, local communities argon the ins crutable of economic success. In the coming decades, the number and strength of Americas brain hubs lead determine whether, as a inelegant we will prosper or regrets. Physical f locomoteories will keep losing importance, but cities with a large function of nterconnected, highly educated workers will become the saucily pointories where ideas and knowledge atomic number 18 forged. Supporting growth in Americas innovation hubs while arresting the decline elsewhere is the real challenge that we face as a nation. (CNN today, October 9,2012) on that point be numerous pros and cons of globalization of which I will attempt to intercourse about both in the upcoming pages. I am extraction with the pros Productivity grows quicker when countries produce goods and services in which they take a shit a comparitive advantage. Some argue that globalization gives a rise to new industries and more jobs in separateing countries.It likewise gives organizations access to seedy resources a nd labour in developing areas in the world. It leads to greater employment opportunities for the people and as well consumers take out quality goods at competitive rates. Transport and distribution systems are in like manner more efficient than ever before, making it much easier faster, and cheaper for businesses to deliver their products to consumers. electronic transfers also make making and receiving transnational payments more secure and faster. Companies also throw away more flexibility to operate across borders therefrom they terminate profit through domestic as well as international nd also they notify have access to much cheaper capitial from an opposite(prenominal) countries if the rate of interest is low. Globalization gives you a larger market therefore you can trade more goods and make more money. Global competition and cheap imports keep prices low and steady, so inflation is mid spring up credibly to interrupt economic growth. The products are improved collectible to global competition. cookery styles, languages, customs have all spread due to globalization. The spread of tuition worlwide is also affected meaning you can go anywhere in the world and perish the grooming you seek. Foreign trade is impacted on an conomy, the WTO controls the way things are handled throughout the world. Comparitive advantage is a factor. Politics are merging and decisions that are creation made are actually proficient for people throughout the world. We have become more social and straight-from-the-shoulder and tolerant towards former(a) countries, and we dont treat people from other countries as aliens. at that place are numerous other pros to globalization, but I will end there. The cons are equitable as much as the pros. Some of the cons are that smaller domestic firms lack the resources to compete with the big international companies and may be forced out of business.All the traveling of the people and the goods from country to country c ould spread infectious diseases that are extremely deadly. One of the biggest complaints about globalization is that it makes the rich richer and the non- rich more poor. Opponents say that globalization makes it easier for those rich companies to act with less accountability. Claims have also been made that countries individual cultures are macrocosm taken over by Americanization. Exploitation of labor is another problem. Prisoners and electric shaver workers are used to work in inhumane conditions, and their safety is being put in jeopardy in order to produce cheap goods. at that place is also an increase in human trafficking. The social welfare schemes are below enormous pressure in developed countries because of deficits and other economic ramifications of globalization. Multinational companies and corporations which were held thorn from commercial activities are increasingly influenced the political decisions. closely people calculate that there is a threat of corporation s to rule the world because they are gaining power due to globalization. As far as jobs go, millions of Americans have lost their jobs because of production or imports shifts abroad. Most find new jobs with less pay.Other millions of people are afraid to lose their jobs at the companies operating under competitive pressure. They also face pay cuts from employers which most of the time venture to export jobs. The white collar jobs are increasingly vulnerable to trading operations that are moving offshore. Some of the poorest countries in the world,such as Africa may discover scour poorer. They do not have the education or the new technology that we do. It can cause unemployment in industrialized countries because companies move their factories to places where they can get cheaper workers. Globalization also can lead to environmental problems.Say a company necessitys to build a mill over in a poor country in the Third World. That country because of the new factory may have to cu t down more trees to sell wood, and also take up the land which they use for resources such as diet and supplies. Being of disadvantage,the under developed countries most of the time have to do what the developed companies tell them what to do. As far as poorer countries go their adventure at fair trade is hindered, forcing the developed countries to produce export regimens treasured by wealthier companies instead of producing food for locals to feed their own population. The bigger companies develop rchards and plantations and once again reduce the land for the production of local food supplies. When it comes to whether or not I am pro or con globalization I would say I am on the fence. I do not agree with the work conditions that the people in the factories are subject to. Inhumane treatment is unfair and jusat plain cruel. I was honoring the news a couple of weeks ago and watched people jumping out of the Apple building windows commiting suicide due to the horrible work cond itions. There are also what they call suicide nets placed outside of factories due to the window jumpers from poor condtions. The spread of life threatening iseases also concerns me from the cover song and forth of import and exports. The fact that countries that are bigger and more hefty can overrule the less fortunate and smaller developing countries seems a bit unfair. The taking of Third World companies land to benefit or make profits and deprive them of their resources by also building factories on their land also does not sit well with me. The unemployment rates in industrialized countries is caused by globalization because firms move their factories over to places where they can get the cheapest laborers. With globalization we must also keep in mind that we want to make ure that both sides are profiting from the exchange of goods. I also think that we should as a more technoligical and educated country give back to the third world better education and and resources to more technology so that they can gain more profit from globalization. I am also not happy with the way the economy is playing out. On the asset side, I am pro as well. I love the fact that I can open up my computer,click start and get to just about any product in the world and sometimes even cheaper than I can get from the United States. For instance,I do not have health insurance.I have certain conditions that I have to be on medication for otherwise my health will will fail. In the US at any pharmacy my medication costs me over four hundred dollars I then was turned on to a Canadian pharmacy that I could get three months worth of my medication for a little under three hundred dollars Without globalization this would never happen. I also love exotic food and fruits that are imported into the US from other countries. I like the fact that we are friendly with other countries and are able to trade without any political problems. I can go to another country and get just as good of an educ ation or even better over there.Export jobs produce more income than other jobs. Globalization gives us a wider market which means you can sell more goods and make more money. The more globalization the cheaper the products become, and the faster they get to us. Bibliography Business Week, The pros and cons of globalization, April 2000 University of Western Sydney The Impact of globalization Manufacturing. net, Saving American Manufacturing, by Mike Collins,6/28/2010 Letslearnfinance. com,Ad vantages and Disadvantages of globalization Taking Sides, clash views on Global Issues,fourth edition,Hart and Lombardi,2007