At the same time, immigrant workers in different countries are afraid of losing their place of work and thus, agree to lower salaries.
The only ones who get benefit from deindustrialization and globalization are the multinational corporations, while ordinary workers lose a number of opportunities for personal growth. One more disadvantage of globalization is its negative effect on the environment, which further results in the transmission of such diseases as HIV. A lot of discussions have been carried out on the issue of industrialization that is interrelated with the phenomenon of globalization.
In fact, more waste is being produced and left unattended in poorer countries disregarding the environmental concerns. Toxic waste produced in the course of industrialization causes irreparable damage to the environment. Besides, with greater numbers of tourists going to countries where various transmittable diseases are prevalent, the overall health of the world population is under a certain risk.
All this proves that globalization has a number of adverse effects. To conclude, any kind of development or growth is associated with certain pros and cons, and globalization cannot be considered an exception. It is a fact that globalization has opened doors to various foreign countries and had a great influence on different nations from the economic, cultural and political perspectives.
Besides, it is a phenomenon that cannot be stopped. Therefore, what the world community can do is minimize the negative sides of globalization to mitigate the problems associated with this trend. The governments of the countries and common people can only hope that the ever-increasing globalization will bring more good than harm in the future.
There is cultural intermingling. Each country is learning more about other cultures. Since we share financial interests, corporations and governments are trying to sort out ecological problems for each other. Socially we have become more open and tolerant toward each other, and people who live in the other part of the world are not considered aliens. Most people see speedy travel, mass communications and quick dissemination of information through the Internet as benefits of globalization.
But what about the American economy? What is good for third world countries like Kenya or countries with tremendous growth like China may not be good for America.
America has been outsourcing both manufacturing and white-collar jobs. Since , American manufacturing has lost some 6 million jobs and has shrunk from a high of 29 percent of the GDP in to 11 percent of the GDP today. This has happened, because manufacturing work is outsourced to developing nations like China where wages and the cost of manufacturing goods are lower.
In the service industries high paying jobs like programmers, editors, scientists, accountants and medical technicians have lost their jobs due to outsourcing to cheaper locations like India.
This also includes customer support, marketing, insurance and just about any job that can be done over the Internet. If you lose a manufacturing or a professional service job, the alternative is to take a lower paying service job.
Outsourcing has created a culture of job insecurity. Prior to globalization, people had stable, permanent jobs. Opinions expressed by Forbes Contributors are their own. In the U. And in time trade barriers would drop to support even more multinationals expansion and economic gains while geo political cooperation would flourish. Globalization has also been good for Multi-national corporations and Wall Street.
But globalization has not been good for working people blue or white collar and has led to the continuing deindustrialization of America. Globalization is a complicated issue. It is necessary to evaluate the pros and cons before drawing any conclusions. Pros Supporters of globalization argue that it has the potential to make this world a better place to live in and solve some of the deep-seated problems like unemployment and poverty. Free trade is supposed to reduce barriers such as tariffs, value added taxes, subsidies, and other barriers between nations.
This is not true. There are still many barriers to free trade. The proponents say globalization represents free trade which promotes global economic growth; creates jobs, makes companies more competitive, and lowers prices for consumers. Competition between countries is supposed to drive prices down. In many cases this is not working because countries manipulate their currency to get a price advantage.
It also provides poor countries, through infusions of foreign capital and technology, with the chance to develop economically and by spreading prosperity, creates the conditions in which democracy and respect for human rights may flourish.
According to supporters globalization and democracy should go hand in hand. Everyday you hear it on the news, you read it in the newspaper, and you overhear people talking about it and in every single instance the word globalization seems to have a different meaning. Globalization is the process by which a business or company becomes international or starts to operate on an international level such like the rise of the so-called global economy.
Some social, economic and environmental issues are discussed in the paper. Everyday you hear it on the news, you read it in the newspaper, and you overhear people talking about it- and in every single instance the word globalization seems to have a different meaning. When I hear of globalization I think of the whole world coming close together in all phases.
Want more manufacturing and product development news and insight? No one can deny that the positive aspects of globalization will help the countries' economy to prosper. On the one hand it unites the whole world, on the other hand globalization makes the line between developed and backward countries more apparent.
In fact, more waste is being produced and left unattended in poorer countries disregarding the environmental concerns. The local traditions and cultures are in jeopardy due to the enormous influence of world media and TV channels.