“What Is The Consequence Of Globalization? Good Or Evil?”

Globalization can be described as the ever-growing and increasingly integrated global economic system characterized by tolerant trade, free flow of capital, and the utilization of more(prenominal) economical contrary labor markets. In class we have discussed the globalisation of markets and the globalization of production. There are positive and negative aspects to both facets.

With hear to globalization of markets, a wider variety of products and services can be offered worldwide. This has helped to create a global culture and, therefore, a global marketplace. Unfortunately, it is difficult to globalize all products due to several factors, such(prenominal) as regional tastes and preferences, cultural value systems, business systems and political regulations. These barriers often require customization of a firms operations, marketing and products to fit topical anesthetic norms.

As production is globalized, a firm can select factors of production from around the world and choose those with the best salute and quality. One example is using cheaper foreign labor to be products. This drives down cost, and the savings is passed down to the consumer, which makes the firm more competitive.



piece of music globalization creates jobs in appear markets, unskilled workers in more developed countries are either forced to accept carry cuts or lose their jobs altogether as their functions are outsourced abroad. It is as well important to consider that U.S. wage and hour laws may non apply to these foreign workers. Some firms pay workers producing their goods very lower-ranking and expect them to work long hours. numerous of these workers are children, with no legal protection, who must work alongside the adults to help support their families. If the goods were produced in developed nations, these practices would not be accepted.

Firms producing goods in emerging markets frequently enjoy more relaxed environmental standards for factories as well. Many poorer nations have not yet adopted the clean logical argument and...If you want to get a full essay, order it on our website: Orderessay



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