Pros and Cons of Globalization
Globalization
This word is often use to express how our World is more and more connected. Thanks to new technologies, we can do business with almost anyone one the world.
Causes of Globalisation
Since WWII, the total amount of International Trade has been increasing, due to increased technology, logistics and Trade Agreements.
This trend is also influenced by our desire to find the cheapest possible products and services, and by companies that look all over the world for the cheapest sources of Labor and raw materials.
Pros and Cons
Globalization, like everything humans do, has both good consequences and bad consequences:
Pros
- Brings cheaper products to consumers all over the world.
- Allows some workers in developing economies to choose where they want to work, meaning companies have to compete in attracting workers, by increasing salaries and job amenities.
- Increases exchange of information and cultural practices between different peoples.
Cons
- It's a form of Colonialism, where rich countries, through private entreprises, influence and exploit poor countries.
- Companies don't have to follow the strict regulations put in place in developed countries that protect and give rights to workers. This means that, sometimes, companies may use child labor in poor countries, because it's cheaper.
- Globalization is bad for the Climate, because it takes a lot of energy to transport products over long distances.
Conclusion
This phenomenon is not going to go away anytime soon, and we have to deal with the many problems it brings.
Do you have any idea that would minimize the Cons and increase the Pros of Globalization? Let me know!
Thanks for reading!
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Read about the consequences of Globalization!