Globalisation Advantages And Disadvantages Essay

It should be pure business with no colonialist designs. There is now a worldwide market for companies and consumers who have access to products of different countries. Gradually there is a world power that is being created instead of compartmentalized power sectors. Most people see speedy travel, mass communications and quick dissemination of information through the Internet as benefits of globalization. Labor can move from country to country to market their skills.Politics is merging and decisions that are being taken are actually beneficial for people all over the world. Socially we have become more open and tolerant towards each other and people who live in the other part of the world are not considered aliens. True, but this can cause problems with the existing labor and downward pressure on wages. Sharing technology with developing nations will help them progress. many jobs and always increase our trade deficit Cons • The general complaint about globalization is that it has made the rich richer while making the non-rich poorer. • The biggest problem for developed countries is that jobs are lost and transferred to lower cost countries.” According to conservative estimates by Robert Scott of the Economic Policy Institute, granting China most favored nation status drained away 3.2 million jobs, including 2.4 million manufacturing jobs.

It should be pure business with no colonialist designs. There is now a worldwide market for companies and consumers who have access to products of different countries. Gradually there is a world power that is being created instead of compartmentalized power sectors. Most people see speedy travel, mass communications and quick dissemination of information through the Internet as benefits of globalization. Labor can move from country to country to market their skills.Politics is merging and decisions that are being taken are actually beneficial for people all over the world. Socially we have become more open and tolerant towards each other and people who live in the other part of the world are not considered aliens. True, but this can cause problems with the existing labor and downward pressure on wages. Sharing technology with developing nations will help them progress. many jobs and always increase our trade deficit Cons • The general complaint about globalization is that it has made the rich richer while making the non-rich poorer. • The biggest problem for developed countries is that jobs are lost and transferred to lower cost countries.” According to conservative estimates by Robert Scott of the Economic Policy Institute, granting China most favored nation status drained away 3.2 million jobs, including 2.4 million manufacturing jobs.

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“During the most recent period of rapid growth in global trade and investment, 1960 to 1998, inequality worsened both internationally and within countries.

The UN Development Program reports that the richest 20 percent of the world's population consume 86 percent of the world's resources while the poorest 80 percent consume just 14 percent.

This is illegal under WTO rules so there is a sound legal basis to put some kind of tax on their exports until they quit cheating.

Balanced Trade – Most of our trading partners can balance their trade budgets and even run a surplus.

This is an ethereal goal which hasn’t been achieved in most countries 5.

According to supporters globalization and democracy should go hand in hand.Safety standards are ignored to produce cheap goods. • Social welfare schemes or “safety nets” are under great pressure in developed countries because of deficits, job losses, and other economic ramifications of globalization.Globalization is an economic tsunami that is sweeping the planet.Pros Supporters of globalization argue that it has the potential to make this world a better place to live in and solve some of the deep-seated problems like unemployment and poverty. Free trade is supposed to reduce barriers such as tariffs, value added taxes, subsidies, and other barriers between nations. The proponents say globalization represents free trade which promotes global economic growth; creates jobs, makes companies more competitive, and lowers prices for consumers. Competition between countries is supposed to drive prices down.In many cases this is not working because countries manipulate their currency to get a price advantage. It also provides poor countries, through infusions of foreign capital and technology, with the chance to develop economically and by spreading prosperity, creates the conditions in which democracy and respect for human rights may flourish.We need the government to develop a plan to begin to balance our trade deficit even though this is not a political priority in either party.Trade Agreements – Both the NAFTA and the South Korean Korus trade agreements might have been good for Wall Street and the multi-national corporations but they eliminated jobs in America and expanded our trade deficit.The upcoming Trans Pacific Trade Agreement will do the same thing and Congress should not fast track this bad agreement for a dozen reasons.Enforcing the rules – China ignores trade rules and WTO laws with reckless abandon.China does not deserve to be on our most favored nation list and we need to tax their exports to us until they stop these illegal activities.What is good for third world countries, like Kenya, or countries with tremendous growth, like China, has not been good for American workers.