Economics Essay on Darkside of Globalization
Globalization in simpler terms, means the spread of a business, culture or technology on an international scale. The primary objectives of globalization are Investments and Capital, Transactions and Trade, Education and Knowledge. It means that you can purchase and sell goods from any part of the world, anywhere in the world and also enables culture exchange among the global population.
By being against globalization, the dangerous side of it is about the additional risk and uncertainties about high local markets, competition, price in profit swings, and corporations demolishing competitors. The primary concern with globalization and the cons of it is mostly because of the unequal economic growth. As we know, globalization increases the economic growth of many countries, but the growth between countries is not quite equal. The richer countries benefit from the developing countries that are more poor.
As of last year, seven of the wealthiest people in the world have more money than all the money owned by the poorest population. As time goes on, the countries that are on top and benefit the most will knock out all the surrounding countries that don’t benefit or bring a lot to the table. This will leave the world with limited resources. Globalization leads to outsourcing which then makes the developing countries lose certain jobs.
Global warming is being caused because of the fatal air pollution of the a good deal of different transportation services being used, which affects all around climate change. These are just a few examples of why Globalization is harmful. In many decades, globalization has affected countries in various ways, politically, socially, and economically. Globalization affected the products people consume, culture, security, environment, and the simple idea of exchange between several countries. In the, “Optimal Trust on the Interpersonal Level Video”, it states that,” Optimal trust applies to leaders in interpersonal relationships and personal relationships…. If you come across as someone who I’m only going to do this if it benefits me, that actually sends out a signal to other people they should be cautious and not trust you.” This is how globalization changed through the years, trust becoming very thin between people and countries.
From the pollution and climate change, millions of people losing their jobs. It benefits much of the world in a small way. Globalization is so powerful, that the richest people benefit the most as the poorest remain at the bottom. Globalization does not have to be a bad thing, as long as the government provides the tools to change the world. Globalization seems to have a con with every pro. As they even put each other on paper, there will be a bigger disadvantage to the people on the other side of the spectrum. The rich will remain rich while most of the population is poor. Everything in the world would be simpler and more smooth if more countries were more equal and countries that are poor gained just as much power as the person next door. Give more people opportunity and use the wealth around the world to make Globalization better, not worse.
References
Collins, M. (2015, May 6). The pros and cons of globalization. Forbes. Retrieved September 20, 2021, from https://www.forbes.com/sites/mikecollins/2015/05/06/the-pros-and-cons-of-globalization/?sh=10362d1dccce.
Optimal Trust on the Interpersonal Level - Andrew C. Wicks ... www.youtube.com/watch?v=BRn_HSjt37g.
“Frontline/World . Guatemala/Mexico - Coffee Country . Your Coffee Dollar.” PBS, Public Broadcasting Service, www.pbs.org/frontlineworld/stories/guatemala.mexico/coffee1.html.
