Globalization is the growth and spread of interactive international economic and business around the world. It has made a way for free trade and businesses. Globalization simply means the world is integrated economically, socially, politically, and culturally through the advances of technology, transportation and communication. Although it has help improve communication around the globe, it is causing tremendous disaster for the world. It has allowed many world economics to grow and prosper but the growth and prosperity is not reaching all particularly developing nations. Globalization is contributing to the exploitation of the poor by the rich corporations. Developed nations have ventured to establish foreign operations to take advantage of the low cost labor in the developing nations. One cannot deny the negative effects which have derived from globalization. Many multinational corporations use unfair labor practices in developing nations. Corporations move their factories to developing nations because they are able to take advantage of the weak labor laws. Corporations do so little about the unfair working conditions because they invest in nations where they can pay the lowest possible labor cost. Many of those corporations exploit children and demand long work hours. Since many multinational corporations invest in regions that have little or no labor laws they pay them low wages. The wages the workers in developing nations receive is so low it is not enough to cover their basic necessities. These multinational corporations from developed nations are bullies towards developing nations. They bring their companies into developing countries letting the people think it will bring good paying jobs, improve the standard of living and increase economic growth. Multinational companies are well aware they cannot treat the workers in developed countries the same way they do in less developed nations. Furthermore, globalization has given multinational corporations the opportunity to take advantage developing nations due to their low labor laws. Often multinational corporations have little regard for the dump they drop in countries they are running operations in. They often seek to operate in countries where there are little or non-existent environmental laws, so companies may not have to spend large amounts of money for “environmentally friendly” manufacturing process. They practice the use of harmful and toxic chemicals in developing nations. This practice has the possibility of environmental damage. The globalization between developed and developing nations has brought out inequality. For the fact that developing nations have a shaky government with little or non-existent labor and environmental laws they feel they have to right to take advantage of them. For example many critics argue that Canadian companies of moving to Mexico because of their less strict environmental laws. Not to mention the monocropping brought into developing nations often has too many chemicals for fertilizer, pesticides, insectides, and herbicides The main reason of this inequality in globalization between developed and developing is the wealth. The practices done in developing nations by these multinational corporations can never be done in a developed country Therefore; globalization is a force for environmental devastation, exploitation of the developing world, and suppression of human rights. Moreover, globalization is recognized to improve economic growth of developing nations by providing more jobs and increase economic production. .As developing nations increase their trade relationships and become more involved in the world economy, the strength of their financial and governmental institutions is put to the test. The quality of these institutions will more or less determine whether or not poorer countries will benefit from globalization. If their financial and governmental institutions are weak then there is in no way they will benefit…
By: Paige Lynzey and Mike
• Globalization refers to changes in societies and the world
economy resulting from dramatically increased
international trade and cultural exchange.
• Businesses are becoming more global and expanding into
different regions of the world.
• By business becoming more globalized they are creating
world economies to become more interdependent.
• The globalization of these business also provide
advantages for developing nations.
integral to developing nations incurring setbacks in their economic development
80% of the world is developing! How can industrialized countries forgive developing country’s debts when only 20% of the world is industrialized? Would anyone, in reality, forgive a person who owns them money? I do not think anyone would. Even when looking at the developing countries they should pay back their debt. At least, they should be ABLE to pay back their debt. To do so, when developing countries borrow money…
3 February 2013
The Effect of Multi-National Enterprises on Developing Countries
It is important that developing countries are able to sustain a positive economic growth. Today’s modern society puts pressure on those countries making it very important for them keep up with the rest of the world in terms of globalization. Factors that contribute to globalization are increasingly advanced forms of communication and transportation technologies and services, the exponentially increasing movement…
Describe how globalization has impacted Australian society
Globalization has had a major impact to Australia and it’s society, in both a positive and negative way. Australia has been introduced to new lifestyles, products, cultures, fashion, entertainment and so on. Globalization can also be seen to be Americanization. It is called this as America has had so many influences in so many countries, thus changing their society as a whole. But how has this affected our nation, and the answer is extremely…
22 March 2015
Sweatshops in Developing Countries: Are they Necessary?
Many companies in the United States use developing countries to produce their items. Items such as clothing and technology that Americans use are manufactured and produced in countries such as China, Indonesia, and Mexico. Many companies in the United States are able to produce items for a much cheaper price in developing countries, therefore increasing their profit margins and final cost for…
What have been the main effects of globalisation on Less Developed Countries (LDCs)?
In response to the ill conditions in most of the western world after the Second World War, many countries adopted Keynesian style economic strategies in an attempt to regain a certain level of stability between labour and capital. Welfare states and international capital controls were adopted and enforced through government intervention in the hope of achieving a state of full employment and thus demand. The regulation…
What is the difference between a developed nation and a developing nation? (Use this information to introduce your topic to be discussed in your paper. This actually is the topic you are discussing in your paper, which is why it will make a great intro. Anything you say after the introduction, that is, the body of the essay, will support the intro.)
A developing nation is a nation that does not have the industrial and political capacity of a developed nation. A developed nation on the other…
non-existent “Global Poverty is to be banished.” (Gordon Brown) Globalization has been a great contribution to the sustainable prosperity of most people.
There are many ways that globalization has started to contribute to the prosperity of people by sharing the product ideas and opening the trade amongst many different countries, there are a few way that people can cut down on the poverty level in developing and under-developed countries by increasing the statistics of these transnational companies…
Effects of Globalization on Chinese and African Cultures
Globalization impacts cultures in a multitude of ways, both positive and negative. As the concept can be perceived as the increasing movement of goods and resources across national borders, this modernization has had a significant effect on China as well as in the Kenyan culture. Some critics question whether or not globalization economically benefits countries like Kenya. Although, Kenya financially benefitted from tourism and export-based…