What are the issues and concerns with globalization?
Benefits
Globalisation enables greater trade and competition between different economies, leading to lower prices, greater efficiency and higher economic growth - and it has also enabled increased levels of investment. It has made it easier for people to attract short term and long term investment (investment by multinational companies can play a big role in improving the economies of developing countries). These countries also gain from globalization as it offers access to foreign capital, global export markets, and advanced technology; while breaking the monopoly of inefficient and protected domestic producers.
While globalization may confront government officials with more challenging decisions, the result for their citizens is greater individual freedom.
There is arguably less cultural diversity
Problems
However developing Countries often struggle to compete with developed Countries.
One problem of globalization is that it has increased the use of non-renewable resources, whilst also contributing to the increase in pollution and global warming. There is also less control on output as firms can outsource production to where environmental standards are less strict.
Globalisation enables workers to move more freely. Therefore, some countries find it difficult to hold onto their best skilled workers, who are attracted by higher wages elsewhere.
http://wiki.answers.com/Q/What_are_the_benefits_and_costs_of_globalization
Globalisation enables greater trade and competition between different economies, leading to lower prices, greater efficiency and higher economic growth - and it has also enabled increased levels of investment. It has made it easier for people to attract short term and long term investment (investment by multinational companies can play a big role in improving the economies of developing countries). These countries also gain from globalization as it offers access to foreign capital, global export markets, and advanced technology; while breaking the monopoly of inefficient and protected domestic producers.
While globalization may confront government officials with more challenging decisions, the result for their citizens is greater individual freedom.
There is arguably less cultural diversity
Problems
However developing Countries often struggle to compete with developed Countries.
One problem of globalization is that it has increased the use of non-renewable resources, whilst also contributing to the increase in pollution and global warming. There is also less control on output as firms can outsource production to where environmental standards are less strict.
Globalisation enables workers to move more freely. Therefore, some countries find it difficult to hold onto their best skilled workers, who are attracted by higher wages elsewhere.
http://wiki.answers.com/Q/What_are_the_benefits_and_costs_of_globalization