- Increase in communications among friends and families around the world.
- ex: Facebook and Skype
- Decrease in production costs for companies, they're able to increase their profits
- ex: Nike main production line is at Bangladesh instead of at United States
- Information travels rapidly, it can become a platform to raise awareness for causes such as racism
- charityintelligence.ca
- freerice.com (raises awareness for world hunger and gather help)
- Increase in demand of products, increase in trade amongst countries. This helps the overall economic growth and development of countries.
- From 1962 to 1989, Korea's GDP has grown 8% every year
- Availability of foreign products around the world
Cons
- Small and less well-known companies cannot compete with famous companies
- ex: local fast food companies is unable to compete with McDonalds
- Labors in developing countries lose job opportunities because companies look for lower cost labors in LEDCs
- Chinese companies settling in the Philippines causes the lower-classes of China to lose job opportunities.
- Leads to exploitation of LEDC labors and environment
- Nike's sweatshops violates human rights, disregards their working environment and their working wage
- Improvement in communication (shrinking of the world decreases) allows intrusion of bullying or other forms of negative interactions
- Dominant countries are allowed more power, because less economically developed countries fight for connections to trade with dominant countries
- Loss of cultural identity, with the rapid trading of information around the world, people are more likely to assimilate with another culture.
- Western ideas are becoming more dominant than Eastern ideas
I agree with your points as communication is one of the major benefits that comes with globalization and the sharing of knowledge and ideas. I also believe that globalization is destroying smaller local companies that can not compete with the larger transnational corporations. I didn't think about the loss of cultural identities though, thats a good point.
ReplyDeleteIs it possible that the benefits of communication and the ability to share knowledge and ideas could be considered a con as well? In what ways could this be possible?
ReplyDeleteI specifically enjoy the point you made about dominant countries having more power because they are more economically developed and can use that as leverage to influence less economically developed countries. You should look into Monsanto corporation, Halliburton, Bechtel, and other multi-national corporations and see how they fit into that scheme.