Pros and Cons of Globalization

WHAT IS GLOBALIZATION
Globalization is the spread of products, technology,
information, and jobs across national borders and
cultures. In economic terms, it describes an
interdependence of nations around the globe fostered
through free trade.

KEY TAKEAWAYS
 Globalization is the spread of products,
technology, information, and jobs across
nations
 Corporations in developed nations can gain
a competitive edge through globalization.
 Developing countries also benefit through globalization as they tend to be more cost-effective and
therefore attract jobs.
 The benefits of globalization have been questioned as the positive effects are not necessarily distributed
equally.
 One clear result of globalization is that an economic downturn in one country can create a domino effect
through its trade partners.
JKHH PROS OF GLOBALIZATION:
THE PROS AND CONS OF
GLOBALIZATION  Globalization facilitates trade
 More open information flows
 Better job opportunities
 Better access to high qualified people for companies
 Global research collaborations
 Increase in global GDP
 Collaboration to reach our global goals as humanity
 Reduce in labor exploitation
 Globalization broadens access to goods and services.
 Globalization can lift people out of poverty.
 Globalization increases cultural awareness
 Information and technology spread more easily with
globalization

THE PROS OF GLOBALIZATION

 Workers in developed countries may lose out to

GLOBALIZATION
workers in countries with cheaper labor
 Globalization has failed to deliver desired gains in
labor rights, human rights and environmental
protection
 Globalization may contribute to cultural
homogeneity.
 Globalization puts more power in the hands of
Multinational Corporation. The government authorities of various
 Increase in globally organized crime countries have been giving a lot of impetus to
 Exploitation of poor developing counties the Importance of Globalization realizing its
 Dependence on other countries regarding specific high potential as it also increases the income
goods or services levels of the nation as a whole. Plus there are
 Global financial crisis situations so many opportunities for small as well as big
 Increase migration players.
 Job losses in high-wage countries