Discussion on strengths and weaknesses of globalization.
Compose a 1000 words assignment on strengths and weaknesses of globalization. Needs to be plagiarism free! The term can sometimes refer particularly to economic globalization, which is the integration of national economies into an international economy through trade, capital flows, migration, the spread of technology, and many other factors contributing to it (Bhagwati, 2004).
Globalization is usually recognized as being caused by a combination of economic, socio-cultural, technological, political, and biological factors. It can also refer to the dissemination of ideas, languages, or popular culture between nations (Croucher, 2004).
Living in a globalized world has its share of negative effects on the average citizen, and globalization has been one of the most hotly-debated issues in international economics in the past years. One of the causes of this opposition to globalization is the concern that globalization has increased inequality and environmental degradation (Hopkins, 2004). Fears for inequality arise in situations in which companies take advantage of the cheap labor force in backward countries and use employees for their own needs without taking care of their working conditions. Also, as a result of the industrial nature of factories and that is responsible for manufacturing goods, the environment suffers damages in its land, in bodies of water (including rivers, lakes, oceans, seas), and the air as well (as poisonous materials are released to the air).
Poorer countries suffer more disadvantages because of globalization. As some countries try to save their national markets, they sometimes subsidize their main export, which is agricultural goods. This lowers the poor farmers’ crop prices in the poor countries compared to what it would have been if countries had not subsidized their goods (Hurst, n.d).
One other negative effect of globalization in the economic field is the increase in child labor. The conditions in the poorer countries of the world along with the “enticements” offered by large corporations in them, cause even children to go to work to help support their families. These children often work in sweatshops and terrible conditions.
