Pros and Cons of Globalization

Pros and Cons of Globalization 

Advantages of Globalization:

• There is a worldwide market for the companies and for the customers there is a better access to products from different countries (Samsung, LG, Sony, Mac, etc)
• Globalization helps in increase of demand of products. This increases the rate of production, and gives opportunity for people to get jobs
• Globalization makes the economy of one country dependent on the economy of the other country. So, both countries will have to corporate together and help one another. 
• In Canada, with economic globalization, Canadians are able to eat fresh fruits and vegetables in winter. 
• Most people see speedy travel, mass communications and quick dissemination of information through the internet as benefits of globalization. 

Disadvantages of Globalization:

• Globalization may lead to loss of cultural identity as Western ideas are always imposed upon the Easter thoughts.
• Local markets would have to suffer, because people will go shop at the transnational corporation because there is varieties of goods to choose from. 
• Countries become too interdependent with each other. When one country;s economic system crashes, it will cause a huge impact to world. For example, this will result in problem like Great Depression. (America)
• 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, 1960 to 1998, inequality worsened both internationally and within counties. The UN Development Program reports that the richest 20 percent of the world;s population consume 86 percent of the world's resources, while the poorest 80 percent consume just 14 percent. 
• Globalization has led to 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

Bibliography:

- http://www.mbtmag.com/articles/2010/11/pros-and-cons-globalization

- http://economic-globalization.wikispaces.com/The+Pros+and+Cons

- http://www.buzzle.com/articles/pros-and-cons-of-globalization.html

- http://lifestyle.iloveindia.com/lounge/pros-and-cons-of-globalization-3507.html