The Pros and Cons of Globalization


The Pros of Globalization

1.     
Consumers are able to buy a wider range of goods. This is because of a worldwide market for the companies and for the costumers. Resulting in availability of buying goods from different countries, goods that cannot be bought domestically.

2.     
There is a steady flow of cash into developing countries. This causes a decrease the difference in the value of the many currencies. 

3.     
Companies and consumers are able to invest in a wider range of companies. Allowing a growth in production of any country.

4.     
There is a creation of world power instead of compartmentalization power. 

a.     World power in globalization is the creation of an influence that has a large significance in international affairs. 

b.     Compartmentalization power in regards to globalization is basically the variation of choices that are separated by each person's or society's cultural difference.

5.     LEDC's are able to quickly develop or reach the developing stage because of the information that can be shared between countries.

6.     Societies become more accepting of others cultures. Through globalization there will be, or can be, cultural intermingling. As social creatures, we become introduced to new concepts and may lead to either adding to the concepts or adopting.

7.     Globalization increases the production of goods because of an increased demand of products. This results in profit for both consumers and producers. It is profitable for consumers because the increase in competition results in an increase of efficiency. Each and every company fights against every other company to attain the most customers. It is profitable for the producers because there is an increase in the amount of consumers as well as a wider range of consumer preferences.

The Cons of Globalization 

1.     Many people from developed nations are losing jobs and that is posing a problem for them since the companies are outsourcing work to developing countries since the cost of labor is low and profits the company considerably.

2.     
There is immense pressure on the employed people of developed countries who are always under the threat of their jobs being outsourced. This is because countries who are either developing or underdeveloped have masses of unemployed workers who are cheaper to hire and might be able to work at the same efficiency.

3.     
Although globalization can lead to many positive factors; those positive factors can lead to communicable diseases and social degeneration. For example, people who do not have at least a high school education can become lost in technology. Loosing their ability to be diverse and ability to become multi lingual. This is because of English being a major language in the Internet. Because the Internet is a place where there people can remain anonymous, some may feel the urge to express themselves through the Internet and not socially.

4.     
There is also a threat of corporates ruling the world because there is a lot of power and money invested by them due to globalization.

5.     
Nations of greater influence are able to impose their cultural and social thoughts onto less influential nations. This can result in a form of colonization.

6.     
Globalization may lead to loss of cultural identity.