Negative Impact Of Globalization

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Globalization is the interaction of people due to the growth of international flow of different types of global markets such as business, finances, international and domestic trades, information technology, investments, and different ideas and cultures. Many people fear the impact of the economy and society because it is harmful to every citizen around the world. Globalization influences cultural exchange since it has been increasing annually. But this is not necessarily a good thing, people fear this can cause loss of culture. Globalization very common nowadays, it has started to become beneficial in the economy especially to the wealthy people. Globalization is helping the rich get richer because of their businesses and investments that…show more content…
Another reason why jobs are decreasing is because of the advantage that the technology have over us, the more advance the technology, the less workers they need. For example, in Factories everything was mostly done and created by citizens of a nation, since technology is so advance, factories now have more of automation system which means everything is done automatically, this has caused decrease in jobs now that automation is very popular. This also can affect the household because some families will be in financial crises due to unemployment. They are and will be higher rates of divorces and family instability. Globalization has a huge and very stressful impact on companies and business. Globalization has made a competitive environment for them. The competition is due to different type of reasons but mainly due to cost and price and technology adaptation. When company and businesses competition increase, it makes other companies or businesses lower their prices. Also, one effect of globalization is expanding the businesses. Companies, businesses and customers always want to have quick services and in a more efficient way then before. They expect low prices and high quality. For example, McDonald’s. This company had its downfall, but it has been one of the most admire companies globally. It has expanded throughout the world and it represents some of the cultures and community around it. McDonald’s is consistent with its prices and quick
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