Group 1@ Paris CFM

Pros :

– Globalization promote reconciliation between peoples and cultures. Societies are no longer living in autarky: they interact and cross-fertilize to produce better things.

– Technological differences between countries are decreasing. Multinational corporations relocate their activities to poor countries and transmit their technology.

– Open borders : free movement of people and goods.

– Cultures become richer by influencing each other. Knowledge and information becomes available to all

– Rise in productivity and international competition = decrease in the prise for the consumer

– Research and Development progress in order to innovate.

– Market forces and global trends shape the economy activity. We need competition, freedom and stability.

 

Cons :

 

– Economically, the market has turned the world into a great outdoor mall economy is the cause of many financial crises that now threaten many countries bankruptcy.

The financial crisis triggered in a country (USA or Greece for example) no longer affects only those countries, but it affects the entire global economy.

 

– Too much liberalism, without any framework or rules, leads the state to crisis like 2007. The richest become richer and the poorest become poorer. The deregulation is a dangerous game if there is no rule. Human is too greedy and avid, controlled by the jungle rule.

 

– Because of globalization, the major world powers tend to ingest more often in the internal affairs of any country, to influence domestic policies to guide them to their own advantage.

 

– While relocation to countries where labor is cheaper benefit them but this comes at the expense of the country.

 

– The cultural characteristics tend to disappear and become uniform: the result is a cultural and social impoverishment.

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