Advantage and Disadvantage of Globalization

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Advantages of Globalization

• Globalization lets countries do what they can do
  best. If, for example, you buy cheap steel from
  another country you dont have to make your own
  steel. You can focus on computers or other
  things.
• Globalization gives you a larger market. You can
  sell more goods and make more money. You
  cancreate more jobs.

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gt The best of cultures can be shared and
understood on a global scale.gt Employees of a
transnational corporation may be well paid
compared to other workers in the country.gt
Since we share financial interests, corporate.

• Consumers also profit from globalization.
  Products become cheaper and you can get new goods
  more quickly.

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• Global mass media ties the world together.
• Increased flow of communications allows vital
  information to be shared between individuals and
  corporations around the world.
• Greater ease and speed of transportation for
  goods and people.

4

• Reduction of cultural barriers increases the
  global village effect.
• Spread of democratic ideals to developed nations.
• Greater interdependence of nation-states.
• Reduction of likelihood of war between developed
  nations.
• Increases in environmental protection in
  developed nations.

5

• Movement of Labor

Benefit of globalization is the free movement of
labor. In a globalized world, workers can more
easily move from one country to another to market
their skills to employers and contribute to the
economy. In many cases, free movement of labor
allows economies to fix gaps that exist in
their labor markets. For example, the United
Kingdom has hired nurses from India and many
different countries to fill positions in its
public hospitals that were previously empty due
to local labor shortages.
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• Free Trade
• Free trade reduces the barriers that once stood
  between nations trading freely with one another.
  When companies in different nations dont face
  any barriers to trade in the form of import or
  export restrictions, they can engage in free
  trade.
• An example of a free trade agreement is the North
  American Free Trade Agreement (NAFTA), which
  allows Mexico, Canada, and the United States to
  exchange products and services without
  significant import and export restrictions