The Pros and Cons of Globalization Essay -- Pro Con Essays

Globalization, a great number of people regard it as a chiefly scotch phenomenon, necessitating the additional consolidation, or interaction, of nationally based economic entities through the development of international trade, investment funds and monetary flows. Also included in this view is the rapid advances in sharing social and cultural value as salubrious as new technologies as the world grows together. Globalization can be defined as a procedure in which geographical distance is a diminishing factor in the formation and sustentation of international economic, political and cultural relations. Proponents of this process believe that free trade and integration of world markets will facilitate growth in economies both old and new. Proponents also believe that globalization will stimulate the spread of democracy and in turn improve the condition of human rights so intrinsic to the values of democracy. Critics of globalization see globalization quite differently, portraying it as worldwide energy toward a globalized economic system under the control of global corporate trade and banking institutions that are not responsible to the democratic system or governments. numerous questions surround globalization. What are the costs and benefits of free trade? Does globalization exacerbate global inequality? What impact does globalization have on the environment? are industries in developed nations being weakened by industries in developing or third world countries that have a lower standard and accordingly cost of labor?What are the costs and benefits of free trade? Proponents of globalization put forward that the benefits of free trade out weigh the costs. International investment and trade have been the machines that drive growth and development... ...developing nations it is the nations lower standards of labor that sterilise globalization possible and indeed profitable. Allowing a company to pay a old salt a fraction of what his counterpart would b e paid in a developed nation.Globalization has a tremendous amount of support as well as a tremendous amount of opposition. While multinational companies tend to push for globalization and therefore higher profit margins, opponents work hard to make sure that developing nations are not taken advantage of in the process. Globalization cannot continue without supporters and it should not continue with out detractors. As always a balance moldiness be found to protect not only the nations that are developing but those that are already developed as well. Proponents and opponents must work together to ensure the well being of generations to come that will surely inherit the earth.