24 Pros And Cons Of Globalization

This author had a valuable opportunity to address a joint meeting of Rotary Clubs of Lahore, Pakistan, way back in November 2007, on the topic “Challenges of Globalization for the Developing Countries”. The elite gathering present there, though from different occupations, had one thing in common – having serious doubts over the utility & desirability of Globalization. It took around an hour’s talk and question-answer session to convince them to the core that they can use the provisions of Globalization to improve their lot like never before.
His job is to stand in a freezing room and crack open chickens as they come down an assembly line at the rate of 41 per minute. When visitors arrive at the factory , the workers get a respite, as the line slows down to half-speed for show. His work uniform does not protect him from the cold, the man said, and after a few minutes of work he loses feeling in his hands. Some of his colleagues, he said, are no longer able to raise their arms.
In the late 20th century, many countries agreed to lower tariffs, or taxes on goods that are imported from other countries. The way Internet and other communication technologies makes it easier for people to buy and sell products from around the world is an example of globalization. Herman E. Daly has said that there is an important difference between internationalization and globalization.
Specialist suppliers may also enter the industry and existing firms may benefit from their proximity. External economies and diseconomies of scale are the benefits and costs associated with the expansion of a whole industry and result from external factors over which a single firm has little or no control. ASEAN is an organization of 10 countries in southeast Asia that promote cultural, economic, and political development in the region. Globalization has advancedsocial justiceon an international scale as well, and advocates report that it has focused attention on human rights worldwide that might have otherwise been ignored on a large scale. The think tank, Peterson Institute for International Economics , states globalization stalled after World War I, and nations’ moved toward protectionism as they launched import taxes to more closely guard their industries in the aftermath of the conflict. This trend continued through the Great Depression and World War II until the U.S. took on an instrumental role in reviving international trade.
Factory, shop and office closures have caused demand to tumble and prevented suppliers from reaching customers. Food is still getting through, Apple insists it can still make iPhones and China’s exports have held up so far, buoyed by sales of medical gear. In the first ten days of May exports from South Korea, a trade powerhouse, fell by 46% year-on-year, probably the worst decline since records began in 1967. For a country, when nation building is a first thing, maximisation of the national product need not be the sole objective of its politician regime . Globalization creates an opportunity to move and communicate easily with each other all over the world, it exceeds the business opportunities internationally.
globalisation problems
Early work in this area highlights the ways in which gender, race, class, culture, and immigration status intersect to produce disproportionate burdens for immigrant women. Subsequent work discusses the feminization of labor migration, with a focus on domestic workers. Finally, more recent contributions explore the relationship between transnational migration and various forms of structural oppression. Gendered and racial stereotypes have played an important role in the establishing this gendered division of labor. In particular, employers tend to perceive women, particularly Asian women, as “tractable, hard-working, dexterous—and sexy” . Governments have been quick to capitalize on these perceptions in their efforts to recruit foreign investment.
A new technological generation, which maximise the productivity of the natural resources, is essential. Recycling, conservation of resources, reduction of wastages and such other measures to alleviate environmental abuses require new technologies in the fields of product design, manufacturing and product utilisation. Probably, each country should chart out its globalisation plan and programme.

  • It is now clear that globalization is causing issues which need to be solved; these are unemployment, exploitation of workers, and poverty.
  • Outside of the factories, people selling things in the street or carrying bricks on building sites earn less than we do.
  • And in country after country, Latin America’s poor are suffering — either from economic crises and market panics or from the day-to-day deprivations that globalization was supposed to relieve.
  • It reduces the expenditure of government by creating opportunities for foreign investment.

Now people can travel faster, communicate with each other, and benefit from life-saving medications. Technological and scientific advancements have made the world a better place. Improvement of lifestyle has increased the life expectancy of human beings. Global powers manipulate their money to increase their worth and demand. Currencies like euro, dollar, and pound are classic examples in this regard.
And in a closed economy, the ”state” car factory is often owned by the dictator’s son and the country’s forests can be chopped down by his golf partner. When there is no selection procedure, the introduction of other cultures as a result of globalization has the potential to diminish the culture of local populations. When a country has a good character basis, the selection process should be carried out.
After the success of its first venture of Disneyland in Anaheim, California, The Walt Disney Company continue to expand into Asian fields with Tokyo Disney in Tokyo. Nearly twenty years later, the company decided to do its expansion into the European market and here come Euro Disney which is now known as Disneyland Resort Paris. The theme park Euro Disney was expected to bring $600 million in foreign investment into France every year and it is the largest single Foreign Direct Investment ever in France. While inequality within the EU already existed before the integration process began, it became more pronounced as integration proceeded. Efforts of individual countries to narrow the gap will only have limited effects but coordination in fiscal policy could help foster greater coherence. In July, the EU reached an agreement on the unprecedented proposal by Germany and France to create an EU bond to finance the post-pandemic economic recovery plan, including a substantial grant facility without a repayment obligation.

The government in a developing country should examine this issue in depth and try to overcome its institutional ‘gaps and constraints’ to growth and globalisation problems. Most technology of the past, now being transferred to developing countries, under the process of globalisation and FDI, are tantamount to more destruction of the environment. Many developing countries are under enormous international eco-political pressure to accept globalisation in haste, which is likely to put excessive strain and overexploitation of their resources disregarding the environmental ecological balance. Every country has a specific capacity to pile up people and cater to their basic needs. Densely populated areas are lacking behind the race to obtain and maintain social order. Food, Housing provisions, and other benefits are far from their reach as the government is unable to provide such a huge number of people.
The population concentration in big cities has provoked an even more intensive agglomeration of social and economic activities in 3C environments, driving urban development. But, at the same time, the agglomeration of such urban activities directly backfired as the source of the self-propagating spread of COVID-19. Urbanisation and globalisation represent civilisational progress and they are highly intertwined with the decrease in the cost of moving people, goods, money, information, reducing transportation costs more broadly. They also allowed for the development of the ‘knowledge creation society’ of today, which is centred around global metropolises.