Pros and Cons of Globalization

2741 Words Mar 26th, 2011 11 Pages
Pros and cons of globalization

Department:

International Management

Lecturer:

Prof. Dr. Henkel and Prof. Dr. Perlitz

Name:

Shi Zhun

Student ID:

1223396

Date:

29/Oct/2008

Table of Contents
Page Number

1. Summary...………………………………………………...…………...3 2. Introduction……………………………………………………………4 3. The definition of globalization…………………………………...........4 4. Economic growth (pros and cons)……………………………………..5 5. Worker (pros and cons)………………………………………………..7 6. Consumer (pros and cons)……………………………………………..9 7. Human rights (pros and cons)………………………………………...11 8. Conclusion…………………..………………………………………..13 References…..…………………………………………………………..14

Figure 1 Growth in Volume of World Merchandise Trade and Gross Domestic Product,
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"The Era of Globalization" is fast becoming the preferred term for describing the current times. According to Patricia (2001), just as the Depression, the Cold War Era, the Space Age, and the Roaring 20's are used to describe particular periods of history; globalization describes the political, economic, and cultural atmosphere of today.

While some people think of globalization as primarily a synonym for global business, it is much more than that. The same forces that allow businesses to operate as if national borders did not exist also allow social activists, labor organizers, journalists, academics, and many others to work on a global stage (Patricia, 2001). While coming up with a definition is difficult, an even greater challenge is deciding whether globalization is a good thing or a bad thing.

4. Economic growth (pros and cons)
According to Robert and Murray (2001), on average, countries integrating rapidly with global economy enjoy higher economic growth rates than countries with closed economies. The result is higher levels of national output and rising per capita incomes.

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Progress does not always proceed smoothly, but the trend is clearly upward and far more favorable than in the absence of open markets around the world.

Figure 1 Growth in Volume of World Merchandise Trade and Gross Domestic Product, 1994-2004 (Annual Percentage Change)

Source: World Trade Report 2005, World Trade Organization

As figure 1 from