This graph shows that globalization has greatly influenced the world in a positive way, because it has created many jobs around the world, thus, has gradually decreased the poverty rate. However, this graph contradicts the two other sources: cartoon and quote. The cartoon and quote both show the adverse side of globalization, however, this graph negates this point of view. The data shown on this graph brings light upon the positive side of globalization, and unlike others, it is used to represent the pro-globalization
Globalization “The act or process of globalizing, the state of being globalized, especially the development an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of free foreign markets.” This is the definition of globalization that comes up on Merriam-Webster dictionary. When this definition is read, globalization seems like a pretty good thing. There are many reasons why globalization is a very good thing. Globalization not only benefits the economy, but society, and surprisingly the environment. The thing that benefits the most from globalization is the economy.
Pros: Globalization creates a worldwide market for the companies and for the customers there is a better access to products from different countries. Because of globalization there is a steady cash flow into the developing countries, which gradually decreases the dollar difference. Due to the presence of a worldwide market, there is an increase in the production sector and there are lots of options for investments for different companies. Decisions are being made benefits to all people over the world.
As we mentioned earlier, globalization promotes sweatshops as it transfers jobs from developed countries to less developed countries-seeking for the services at as low a price as possible. While an influx of foreign companies and foreign capital creates a reduction in overall unemployment and impoverishment, it can also increase the earning gap between those who are educated and those who are not. In the poor country, there are normally a few individuals who manage to make the best use of the new opportunities. It implies that not everyone will take part in an elevation of living standards. Moreover, the rich countries are in a much more beneficial position to make use of the opportunities globalization provides than the poor countries are.
All of these developments coming from more developed countries greatly improve and enhance people’s daily lives. This results in economic growth and decreases poverty. Undeniably, aspects of globalization such as health, education and communications have greatly improved developing countries. Although many say that Globalization is a positive thing, there are some negative aspects. Developing countries have to face challenges such as environmental deteriorations, instability in commercial and financial markets, and increased injustice across and within nations.
Globalisation is a process of interaction and integration between people of different nations, so that the world becomes more interconnected and interdependent. This process leads to the exchange of world views, products, and ideas across nations. Hence, it has a huge influence in many aspects of our lives, one of it being our culture. According to the Oxford Dictionary, ‘culture’ is defined as the ideas, customs, and social behaviour of a particular people or society. It has evolved and changed positively and negatively since the start of humankind and globalisation is one of its factors.
In particular, for developing countries. On one hand it can be said that it allows poor countries and their citizens to develop economically and raise their standards of living. While on the other hand, it can be said that globalization is the creation of an unrestricted international free market. This has led to increased opportunities for multinational corporations in the Western world to benefit for themselves at the expense of local enterprises, local cultures, and exploiting ordinary people. Globalization affects economic and trade processes in developing countries.
Increased free trade and communication between nations, along with increased access to technology, media, education, healthcare, consumer goods, and other resources are often considered advantages of globalization. Some disadvantages of globalization include exploitation of developing countries, cultural homogenization, and adverse effects on local economies and the environment. Globalization is a complex issue, and while some argue that it reduces global poverty, others argue that it increases wealth inequality worldwide. 3. There is great prestige in winning the Baldrige award.
Growth of Multi-national companies Multi-national companies spread with globalization due to change in the consumer taste. For the reason of multi-national companies is mainly focused to the cheap labour because company owners used poor countries to establish their companies those type countries because of the cheap labour cost. Since in past, people do their business transactions within the country. By year by year world develop very faster with different ways. And the people also changed with the development of the world, as an example technological development, transportation development.