The Advantages and Disadvantages of Globalization

1439 Words Mar 24th, 2013 6 Pages
The Advantages and Disadvantages of Globalization

Prepared by
Ummul Wara

November 2012

Content 1. Introduction - What is Globalization?............................................1 2. Advantages of globalization……………………………………….…2 3. Disadvantages of globalization………………………………….…..4 4. Conclusion – to globalize or not to globalize……………………….6 5. References

Introduction - What is globalization?
Globalization can be defined as ‘international integration’, which can be described as the process by which the people of the world are unified into a single society and functioning together. This process is a combination of economic, technological, and political forces (dictionary.com).
In simple words, globalization means barrier
…show more content…
Globalization builds good relationship between countries as they exchange products. Trade agreements like NAFTA, WTO, EU and ASEAN etc. are done to make the tie stronger and for the ease of trading with each other. It helps to avoid conflicts among countries, promotes understanding and goodwill.
Globalization has shrunk the world. People can now have access to any market or any product they want very easily. We can buy Japan made camera without actually going to Japan, we can eat Iranian food in our university campus in Kuala Lumpur, can find coke and Mc D at any corner of the world, China can sell its products at very cheap price to consumers all over the world, Paris can get consumer for their fashion trend even outside their country.

3

Disadvantages of Globalization –
The negative effects of globalization come like a fringe with its advantages. As countries companies and consumers are benefitted through globalization process, it is also bringing some disadvantages for them.
Companies move to developing and third world countries for cheaper production cost. In those countries may be they do not need to provide the workers any benefits and the salary requirement is lower compared to what they had to pay in the home country. In this way the industrialized countries exploit the labor force of less economically developed country. They pay them less but earn more profit (by reducing labor expense). Child labor is also an
Open Document