9 Huge Globalization Pros and Cons

Globalization is one of the most important topics being discussed economically and politically today. It is the idea of slowly shifting to a fully integrated world where all countries cooperate with each other in politics, cultural values, knowledge, and politics. The reason that this idea has come to be is largely due to the internet. The internet has allowed the entire world to link together, enabling communication and collaboration with people from all over the world. The core values of globalization have truly changed the way that we see the world, travel, and conduct business, but has it all been good? Let’s take a close look at the good and bad things that have or will come from globalization of the planet.

The Pros of Globalization

1. Improving The Global Economy
One of the most significant changes that has been brought on by globalization is the access to international sale and business. The market that companies can reach is huge and rapidly expanding everyday. This has helped to breach the opportunity gaps between many countries.

2. Expanding Knowledge Of Foreign Cultures
People from all over the world now have the access to communicate freely with one another. This is helping to break down cultural barriers that have hurt the integration of countries for centuries. Gaining a better understanding of how people around the world live is a key point of globalization.

3. Decisions For The World, Not The Country
Political powers and governments are joining together all over, one great example of this is the European Union. This promotes for political and economical decisions to be made that are good for a global benefit, instead of only focusing on local areas.

4. Free Trade Makes A Happy Economy
Through globalization, the idea that all trade barriers would be lifted is very real. Having no restrictions or crazy taxes to purchase and sell goods all over the world would help to grow the struggling economy. This would also help to improve poverty and unemployment rates all over the world.

5. Movement of Labor
Another thing much discussed is the free movement of labor all over the world. If workers could move from country to country, they would be able to market themselves in areas that need people with their skills. This would even further help the economy and provide much needed workers to certain areas of the world.

The Cons of Globalization

1. Not Good For The Underdogs
If all countries where free to trade with one another, then the entire world would be put at an even playing field. Early developing or under developed countries would not be able to compete with the larger economies of the world and would likely crumble underneath the competition.

2. Makes the Rich, Richer
Globalization is a great thing for owners and managers, but it is detrimental to workers and laborers. The competitive nature of this idea puts people that are already rich, in very successful situations. They often exploit workers, children, and prisoners to keep up with demand.

3. The Labor Drain
Everyone wants to make money and be able to live a successful and comfortable life. With globalization, you are able to move freely from country to country in order to find work. People would flock to areas with higher paying jobs, and leave poorer countries to fend for themselves. They would sufficiently “drain” the country of all of their workers that keep things up and running.

4. A Loss Of Cultures
With globalization, eventually, every country would run and function the same way. The deep rooted cultures of these countries would be lost due to mass migration and western influences. This is a scary thing for many people. Arguers of globalization believe that cultural barriers are necessary in order to have culture.

Important Facts About Globalization

  • American’s spend over 400 billion dollars a year on products that where made in China.
  • The U.S. is losing half a million jobs a year to nations overseas.
  • The 3 countries with the richest economies have more money than the economies of all developing countries combined.
  • Over 2/3 of all international trade is done by the same 500 companies.