Merits and demerits of globalisation more than 20 points , all points in detail
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Advantages of Globalization
1. Globalization allows us to pool all our resources together.
One of the best examples of globalization within our lifetime is the construction of the International Space Station. The cost to construct the ISS was $150 billion. Compared to the Mir station at $4.2 billion, the price tag is astronomical. When the first component for the ISS was launched in 1998, five different programs came together to join in ownership, cost, and operations. The United States, Russia, Canada, Europe, and Japan are all involved in the financing and continued operations of the program.
When nations work together to fund common goals, then more money becomes useful for needs other than national defense. Imagine what we could do if the $1 trillion spent annually on warfare and defense could be used for the global greater good?
2. Globalization would also reduce labor exploitation issues.
When borders become less restrictive around the world, people tend to move to locations where their best opportunities exist. Under the current structure of our planet, impoverished nations with a lower standard of living offer wages that the developed world would find abysmal. Someone in Bangladesh making clothes for 10 hours per day earns less in a month than some workers in the U.S. earn before lunch.
By focusing on globalization, we could reduce child labor issues. Human trafficking concerns would be limited because of more border freedom. People could live, work, or go where they please with fewer restrictions, making it easier to chase their dreams.
3. Globalization reduces the prospects of tyranny.
As the world moved slowly toward globalization in the 20th century, the nations realized that having a concentrated power with one administration reduced the likelihood of tyranny in pockets around the globe. Although there have still be issues with government oppression, including the chemical attacks on populace centers in Syria, the number of incidents is slowly declining.
When we’re able to move toward a global-centric society instead of a nation-centric one, these issues will continue to decline over time.
Disadvantages of Globalization
1. Globalization may encourage more offshoring instead of less.
With fewer restrictions in place at the national level, some businesses may use offshoring to their advantage. Even if they kept jobs local, the threat of sending jobs to a different, cheaper region overseas could be used to justify lower wages at home. The end result of an effort to remove borders would be an increase in wages in the developing world, but a decrease in developed countries. Many households could see their standard of living go down if consumable price decreases don’t occur simultaneously.
2. Globalization benefits the wealthy more than the poor.
Value-added taxes above 25% exist in some nations. Tariffs above 70% exist for some products. Unless borders are completely removed, the advantages of globalization are challenging to achieve. The people who have the power to dictate policy would reap the most significant rewards. Those with money to invest would see their bank accounts continue to rise. At the same time, households living paycheck-to-paycheck would struggle to access what they require, suppressing their ability to pursue a better job.
3. Globalization would encourage disease transfer.
The outcome of the Columbian Exchange was profound at the time. Over 90% of some population centers died because of their exposure to smallpox, chickenpox, and other diseases that the Europeans were somewhat immune to at the time. The Europeans brought back syphilis and other diseases as well. If global travel restricts eased, then issues with malaria and tropical disease could spread to portions of the world where exposures are minimal. Tuberculosis, certain influenza strains, and other communicable disease could produce outbreaks at epidemic levels.
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