Globalization
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This document discusses globalization from multiple perspectives. It defines globalization as the interaction of different parts of the world economically, politically, and culturally. Proponents argue it increases employment and access to cheaper goods, while opponents argue it exploits workers and harms small businesses and farms. Both sides see impacts on jobs and the environment. Benefits are discussed as increased wealth and quality of life through access to foreign goods, while challenges include growing inequality and negative social impacts.
Globalization
- 2. Defining Globalization THE PROCESS BY WHICH DIFFERENT PARTS OF THE WORLD INTERACT ECONOMICALLY, POLITICALLY, AND CULTURALLY.
- 3. Proponents of Globalization Increased Employment Lower Wages (business perspective) More “Service” Jobs Cheaper Goods
- 4. Opponents of Globalization Exploitation of child labor Environmental degradation Destruction of indigenous cultures Destruction of small farmers Genetically engineered foods
- 5. Opponents of Globalization Corporate greed Job loss Loss of small farms Loss of small businesses
- 6. RACE TO THE BOTTOM NAFTA & GATT Capitalize on Third World Poverty Low environmental standards Low wages Poor safety Child labor Companies compete to find the poorest most desperate country in which to manufacture
- 7. Pros and Cons of globalization PRO-GLOBALIZATION Multinational Corporations World Economic Relationships Free Trade “cheap” goods ANTI-GLOBALIZATION Child labor Exploitation Third World Poverty Protectionism Environmental hazards
- 8. Outsourcing, Off-shoring, and Globalization The creation of new jobs - blue collar and white collar – in the third/developing world is just one controversial element of globalization. Small Farms and Dairies in decline.
- 10. Benefits of Globalization Increase in Wealth Based on per capita GDP growth In the 1960s, non-globalized economies grew at an annual rate of 1.4% while globalized economies grew at 4.7%. Another relationship between globalization and GDP was seen in the 1990s when developing countries had 5.0% annual growth compared to only 2.2% annual growth in economies that had been globalized for longer.
- 11. Benefits of Globalization Rise in Political Philosophies A second argument in favor of globalization involves the rise of political philosophies, based on the assumption that free markets follow a natural trajectory towards democratic and capitalistic philosophies Political perspectives represent an overall improvement on standards of living and the second being that the correlation between globalization and these principles is significant. Using these assumptions, increasing global trade increases political stability and also increases job opportunities, technological progress, and equality.
- 12. Benefits of Globalization Improved Quality of Life Widespread availability of global goods, services, and ideas positively impacts the lifestyles of citizens Better access to external financing such as cars and home loans More opportunities for international travel and tourism More opportunities to work abroad due to liberal immigrant laws and foreign worker programs Greater consumption of worldwide entertainment including music, sports, fads and pop culture The rapid spread of consumer products to other countries such as food or clothing brands
- 13. Benefits of Globalization Availability of Foreign Goods Increased availability of diverse products, services, and technology. Through pooling, knowledge and exchanging more goods and services, domestic economies expand and benefit from technological developments. Global exchange can allow the best of all worlds through specialization and maximizing various comparative advantages that involve quality or efficiency.
- 14. Benefits of Globalization Combining these arguments, those in favor of globalization theorize that a wider array of products, services, technologies, medicines, and knowledge will become available and that these developments will have the potential to reach significantly larger customer bases This means larger volumes of sales and exchange, larger growth rates in GDP, and more empowerment of individuals and political systems through acquiring additional resources and capital. These benefits of globalization are viewed as utilitarian, providing the best possible benefits for the largest number of people.
- 15. Challenges of Globalization • T HAS MADE THE RICH, RICHER WHILE MAKING THE POOR, POORER. • ENVIRONMENTAL PROBLEMS. • GLOBALIZATION IS SUPPOSED TO BE ABOUT FREE TRADE.(VAT)
- 16. Challenges of Globalization Jobs are lost in developed countries. Culture of fear. Multi-national corporations avoid paying taxes.
- 17. Challenges of Globalization Inequality in the Society Multinational corporations are accused of social injustice, unfair working conditions Multinational corporations are increasingly influencing political decisions. Building products overseas in countries like China for low wages puts technologies at risk of being copied.
- 18. Effects of Globalization on Society Work Life Conflict Work-family conflict: increased working hours, less time devoted to family etc. Swallows norms and values: Conservatism Vs Modernism The most conservative people are forced unintentionally to join the caravan of globalization. (Terrorism Example) Unemployment: Machines replacing Men
- 19. Effects of Globalization on Society Globalization assimilates to the culture of a society or replaces it with different cultures. Threatens the moral values of our present as well as future generations International Culture
- 20. Globalization Advantages: New business opportunities. Fast awareness in remotest areas. Interdependence, which leads to negotiation tables rather wars. Natural resources utilization. International forums UN. World Bank etc. Disadvantage: Cultural shock. Wars due to interests. Exploitation of poor countries. Hegemony of world powers.
- 21. Thank You