|
|
Advantage And Disadvantage Of Globalization
Globalization has boosted up the economies and the lives of millions across the continents since it impacts the economy, the psychology of people and their culture as it breaks down the barriers of distrust and helps people understanding the people of other nations. Globalization has increased the scope of employment to many developing nations and filled up the coffers of profit for the developed nations. But, not everything is as sugar coated as it seems at the outset. Like many phenomenon, even globalization has got its own share of advantages (pros) and disadvantages (cons). |
|
| |
|
Advantages:
- It helps the economic development of the developing nations as it leads to the increased employment through new investment and industrial ventures.
- It helps the investors and traders to outsource their jobs to a country with low production costs thereby maximizing their profits and also with the scope of selling them at a friendly price to their consumers
- It gives a new market to producers to explore and the consumers have a wide variety to choose the best quality product.
- It promotes mutual understanding between people and nations.
Disadvantages:
- Due to the jobs outsourced to developing countries, a large number of the working class in the developed nations across the U.S has been rendered jobless.
- There is resentment among the people of the developed nations against the country where their jobs are outsourced to.
- The potential threat of a new type of colonization comes into picture with so much power and money in the hands of corporation outside the country.
- The domestic producers face stiff competition from many international products being available at competitive prices and with the increase in economic lifestyle of people.
More Articles :
|
|
|
|
|
Advantage And Disadvantage Of Globalization
Company Facilities