#PROS
- Solves a lot of our worlds problems, such as poverty and unemployment rate (the less economically active people are getting chances to contribute and participate in the world market).
- Cultures clashing and because of globalization and companies being spread around the world other then their own country, people are starting to understand others' cultures better.
- Overall global economic growth, opening jobs and makes companies more competitive and lowers prices for consumers i.e. oil prices spiking and dropping every now and then.
- Provides LEDC countries with a chance to become economically developed through infusions of foreign capital and technology.
- Creates better politics; decisions are made more rationally which usually benefits our world and makes it a better place gradually.
- World wide active market for producers and consumers to access products from countries all around.
#CONS
- Multinational corporations accused of social injustice, terrible working conditions i.e. poor living/working conditions
- Benefits the rich and makes them richer, but hell for poor people.
- Countries individual cultures are being are becoming overwhelmed and overpowered by Americanization.
- UN DP (Development Program) reports that statistically, the richest 20% of the worlds total population consume 86% of worlds natural resources, while the other poorest 80% consume the other 14%. This means that globalization is effecting the higher economically developed individuals moreover the lower.
- Exploitation of labor. i.e. inhumane working conditions, safety standards being completely ignored.
Horrible background color, it burns my eyes. But apart from that, I wanna comment about your point about "Benefits the rich and makes them richer, but hell for poor people". It is true, like you mentioned, that these people in LEDC's. who work hours and hours in multinational factories, are not treated right. Their rights are being neglected. But on the other hand, look at China for example. With the large population it has, only thanks to these factories they were able to employ most of their people. And trust me, these workers are earning more money than they would working in the agricultural sections outside of town. So I don't think its "living hell" for all poor people.
ReplyDeleteYes, not for all poor people, but you're choosing China for an example, which is the most growing country in the world in my opinion, so the majority of the workers there have beautiful working conditions, but I'm speaking in general, the dangers that 90% of workers experience everyday, I believe they are very exploited . I have to disagree because yeah sure, a very small portion of our total world population have average to excellent working environments, but looking at the bigger picture, working conditions are hell.
DeleteP.S Sancho Perez, this back ground color won me best blog ;) #SPLaAaAsHH #gimme #that #hotsauce
DeleteOkay, my comment on Sancho's comment first: harsh words to begin with bro! Assume positive suppositions, build trust, THEN drop some jokes. I definitely agree with your comments though with regards to China and their growth.
ReplyDeleteI would also add that it is happening right here in the Philippines as well, and across developing markets. I like using the word "market" because it implies different individual economies that exist forming the greater whole of the global macroeconomic system. Very complex thinking indeed.