The Impact Of Globalization And Its Impact On The World

Decent Essays

A transnational corporation is a large company that has a head office in one country and subsidiary offices in other country. The impacts of TNCs are important because they are responsible for employing 40 million people worldwide, have controlled over 75 percent of world trade and effects the world in many ways. TNCs have a great impact on many countries but more specifically, developing countries. A developing country is a poor country of the world where many people have a low standard of living – seeking to become more advanced economically and socially. Some examples of developing countries are: Jamaica, Nigeria, India, China, Bangladesh, China and Afghanistan. There are some good effects of TNCs although there are many terrible impacts too. The two impacts that will be discussed in this report are sweatshops and environmental issues, leading to a low life expectancy.
Globalisation is a process caused by advances in technology. There are several economic factors in globalisation, with the growth of international trade being one of the most important. Trade has changed from sailing ships to internet messaging. International trade involves exporting and importing goods and services to and from other countries. Businesses can now sell products/produce them in different countries with no restrictions to just one country. The cultural factors of globalisation are a benefit towards developing our world. Because of the international trading and communication around the world,

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