Globalization: pros and cons. Group 10 @ Raleigh

PROS

Globalization designs the world as a small village, let the information and money spread out freely, and provides more diversity in cultures, and also for goods and services. For example, an American car can be made up from a German engine, Japanese tires, and Sweden seats assembled in Morocco and sold in France by an Argentinean Manager. But globalization has many others advantages, some of them are listed below:

  • Easy access to knowledge and information through many different canals and platforms
  • Smaller distances thanks to enhanced communication and transports
  • Companies have access to a broad range of markets around the globe
  • Creation of an International supply and demand
  • International competition
    • It often leads to an economic welfare between companies and customers
    • Companies have the ability to choose the best suppliers around the world for better results
    • Easy access to resources, example the iPhone is composed by different raw suppliers around the world

CONS

  • Cultural challenges
    • Homogenizing effects of the globalization, phenomenon of Americanization
    • Cultures endangered
  • Impact of Global trade on Poverty
    Case Study and researches from Yale Center for the Study of Globalization: What are the poverty impacts of global trade reforms under a successful Doha Round for seven of the poorest countries in the world? – “Our main finding is that the Doha development round in the business as usual scenario is likely to have fairly small impacts on household welfare in Zambia.”
  • Global warming
    • Development vs. Climate Change in emerging countries, Linking Climate Change and Development Policies
    • Limitations and mixed results of Global Summits (Kyoto protocol 2005-2012: Japan, Australia, Canada, Spain and Austria did not reach their objectives)
  • Global Health
    Risk of a fast spread of communicable diseases (Severe acute respiratory syndrome (SARS) epidemic in 2003, Ebola virus in 2014)
  • Business: Tendency to privatization and monopolization
  • Boom of a globalized black market and International criminal networks (Drugs, mafia, terrorism, counterfeiting…)

DECISION/CONCLUSIONS

Globalization both harms and benefits the world. Therefore, control and regulation are needed to counter the negative effects of globalization. International cooperation between states, global institutions, NGOs companies is required.

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