Globalization story

Deadline: Tuesday 24th September, 2013 Presented to Mrs. Sophia Miah by Laeticia Poir©-Hill In my own words, globalization can be seen as an ongoing process of integrating technology, economy, politics, communication and various cultural exchanges of the world without hindrance or any barrier whatsoever, it is an elimination of barriers to trade, communication, economic, political, and cultural exchange. The theory behind globalization is that worldwide openness will premote the inherent wealth of all nations.

When I think of one country who is positively affected by the country, the first one who comes to my mind is the United States of America. Globalization is good for certain countries more, such as those in the First World or Global North. Rich countries like the USA, can sell more products and goods to new markets in the Global South or in poorer countries. You Just have to think of McDonald’s and Starbucks or other big American brands to figure out how these multinationals are big and known world-wide.

We can almost find McDonald’s everywhere. Taiwan is lso affected by globalization, but in this case it’s in a negative way. Some North- American big multinationals decided to set up their factories in Taiwan due to low labor-related costs and also because of their needs of unskilled workers. Unfortunately, this has created a slowdown in the development of Taiwan because the country is now dependent on these corporations as they create Jobs and little income.

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Therefore, these multinationals can make pressure on the Taiwanese government to reduce environmental standards or, see them simply remove. Another hing that created controversy is, if we take the example of Nike, that there have been complaints against the giant multinational because of young children working in the factories and in horrible conditions. So, Taiwan is really negatively affected by the globalization. Globalization has many positive impacts as well as many negative impacts too.

For the positive impacts, we can say that consumers can have the product they want at a more competitive price but also get a wider vvariety of products they can choose. In the case of the positive impact of globalization for the companies, they are able to rocure input goods and services required at more competitive prices. They also get access to wider markets world-wide. It helps the businesses but also the iinvestors to get better opportunities for investment.

In general, we can see that the major advantage of globalization is it gives to both the consumers and companies to get and produce products and services at the lowest price possible. But, nothing is perTect, even tnls ongoing process nas Its Olsaavantages. Hrstly, like we nave seen with the “Wall Street Crash” of 1929 in New-York, that an economic depression in one ountry can trigger adverse reaction across the globe, which brings us to the point of interdependence between the countries world-wide.

This interdependent relationship can also be demonstrated by the fact that an exporting country is dependent on the country importing their products and vice versa. A big negative impact that a company can face, especially the smaller companies like local ones, is facing much greater competition. This can put these smaller companies at a disadvantage as they do not have resources to compete at global scale.

Another negative impact is that developed countries can stifle development of undeveloped and underdeveloped countries by moving the plants in these countries, which in this case create a dependency relationship between the underdeveloped countries to the developed countries since the poorest country needs this factory because it creates jobs but also incomes for the country, although very small. That concludes why it’s important to weigh the pros and cons of the concept “globalization. ” source : 1 . Enotes-study smarter http://www. enotes. com

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