Describe the negative and positive aspects of globalisation
Answers
Answered by
4
Hey There!
Negative Effects of Globalization
♠ Environmental Damage → Increased production means increased utilization of natural resources. Besides, increased trade results to increased transport, which uses fossil fuels.
♠ Fluctuation in prices → Globalization has led to increased market competition, hence leading to fluctuation in prices. For example, developed countries like the USA have been forced to reduce their products prices, because countries such as China offer the same products at cheaper prices.
♠ Job insecurity → Due to globalization, most global economy jobs are insecure and temporary. The impact is mostly felt in developed countries since they can outsource cheaper white collar and manufacturing jobs.
Positive effects of Globalization
♦ Global market → The privatization of industries owned by the state has enabled the emerging markets to be successful. Most of the companies are increasing the consumer demand through extension and expansion of their value chain to international levels.
♦ Competition → Competition in the market is largely due to globalization. As a result, the positive effects are visible, since global competition leads to products of high quality.
♦ Legal effects → Human rights have been improved as a result of globalization since media coverage on violations of the rights receives attention from all over the world.
Negative Effects of Globalization
♠ Environmental Damage → Increased production means increased utilization of natural resources. Besides, increased trade results to increased transport, which uses fossil fuels.
♠ Fluctuation in prices → Globalization has led to increased market competition, hence leading to fluctuation in prices. For example, developed countries like the USA have been forced to reduce their products prices, because countries such as China offer the same products at cheaper prices.
♠ Job insecurity → Due to globalization, most global economy jobs are insecure and temporary. The impact is mostly felt in developed countries since they can outsource cheaper white collar and manufacturing jobs.
Positive effects of Globalization
♦ Global market → The privatization of industries owned by the state has enabled the emerging markets to be successful. Most of the companies are increasing the consumer demand through extension and expansion of their value chain to international levels.
♦ Competition → Competition in the market is largely due to globalization. As a result, the positive effects are visible, since global competition leads to products of high quality.
♦ Legal effects → Human rights have been improved as a result of globalization since media coverage on violations of the rights receives attention from all over the world.
Similar questions