Globalization

Full Name: Thi My Duyen Thach

Index no: 35830
1. What is
globalization ?

Globalization is the spread of products, technologies,

information, jobs across borders and national cultures. In
economic terms, this phenomenon describes the
interdependence of nations across the globe promoted through
free trade.

The effects of globalization are both good and bad for workers,
culture and small businesses, in both developed and emerging
countries.
 Globalization is an economic, social, cultural, political
2. characteristics of
and legal phenomenon.
Globalization

Social
Economic:
Leads to greater interaction between
Allows corporations to take advantage of populations in different regions
comparative advantage, reduce labor costs,
raw material costs, get more customers
politically

Culturally Draw attention to

intergovernmental organizations
such as the United Nations and
Represents the exchange of ideas,
the World Trade Organization
values and artistic expression between
cultures and also represents a single
world cultural development trend.
legal

Changing the way international law is

created and enforced
3. Advantages of
globalization

- Advocates believe that globalization allows developing countries to catch up

with industrialized nations through increased production, diversification,
economic expansion, and improved living standards.

- Outsourcing of companies brings jobs and technology to developing countries.

Trade initiatives increase cross-border transactions by removing constraints
related to supply and trade.

- Globalization has enhanced social justice internationally, and its advocates

believe that globalization has brought attention to human rights worldwide.

- Globalization can raise living standards in poor and underdeveloped countries

by creating job opportunities, modernizing, and improving access to goods and
services.
4. Disadvantages
of Globalization

- On the other hand, Globalization can take away job opportunities in

higher-wage developed countries as the production of goods moves to other
countries.

- An economic downturn in a country can create a domino effect for trading

partners. For example, the financial crisis that originated in the US in 2008
had a severe impact on Portugal, Ireland, Greece and Spain.

- Opponents of globalization argue that it has created a concentration of

wealth and power in the hands of large corporations, which can destroy
smaller global rivals.

- Globalization has also increased homogenization. The size and influence

of the United States makes cultural exchanges between countries mostly
one-way.
THANK YOU SO MUCH FOR YOUR ATTENTION

— THI MY DUYEN
THACH —