Pros And Cons: The Globalization Of The World Economy

2220 Words9 Pages
1.0 Introduction

This assignment is mainly focus on the Globalization of the world economy. At the beginning of the assignment I have given a brief discussion about what is Globalization & middle of the assignment it is all about the drivers of the Globalization. The drivers of the Globalization include two main factors as declining of the trade barriers & technological developments. At the end of the assignment I have divided the essay in to two main areas as one to describe the benefits of the Globalization & one to describe the cost of globalization. In those divisions I have discussed the factors by focusing on the perspective of country & perspective of the business.

2.0 What is Globalization :-

The globalization
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Because some people argue that globalization help poor countries to become economically good state & make their living standards improve ,while others arguing that the creation of the free market concepts enable developed countries to make more money at the expense of poor countries resources, labour & cultural unbalances. So some part of the world helping globalization concepts & others resisting the concepts of globalizations, Actually most of them trying to see a balance between pros & cons of the globalization for example governments trying to manage the trading concepts based on the governmental objectives by creating new…show more content…
Normally developing countries providing free education & healthcare for the citizens, so the citizens need to provide some value to the country after getting their education freely. So the migration of those skill labours from home country to foreign country may lead to provide very less profit to the country compare with the investment on education & healthcare .

Business :- The labour drain may lead to have very less skilled labours remain within the country & their demand will be very high. So the local business mostly not be able to afford the cost of skilled labours & it may case to decrease the business productivity & innovations within the local business.

5.4 Uncertainty

Country :- When one country is depending on another country regarding some kind of service or good , when the independent country get some issue to provide the service or produce goods, it will directly impact the depending country economy. For example country A is providing fuel to country B & due to a natural disaster country A will not be able to provide the fuel adequately. So within country B the demand for fuel will be increased & the prices also will be increased. So it could directly impact to the country B 's economy because fuel may use to generate electricity & transportation. If other words when there
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