Group 1 PPMBD @Lille: Pros and Cons of Globalization

Pros :

– Fast grow of productivity with added with other factor may lead to countries social development

-The producers ( e.g .farmers, manufacturers) can directly sell their goods to an international client, available locally due to globalization, than selling it at a lower price to traders who in turn sell the goods to international clients at a

higher price.

– Open economy spurs innovation with fresh ideas from abroad

– Increased jobs opportunity

– Upgreaded education systems

Cons :

– Rise of hyperfinance added with the economy interconnectivity may lead the economic world to a global fall

– The global companies tend to monopolize the market which will have devastating effect on small shop owners & many skilled workers, For Ex in : Pottery business, local toy manufacturer might lose their jobs due to technologically advanced manufacturing technique, brought in by global companies

– Roll back social rights, including the most advanced countries, working conditions, status salaried, social protection and pensions

– Unable to cope with environmental threats

– Globalization may lead to more environmental problems

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