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Pros and Cons Glabalization - Coggle Diagram
Pros and Cons Glabalization
Pros
Acccess to Goods and Services
makes goods and services available to a large number of people, due to low prices
Lift people out of poverty
increased job opportunities in capital scarce counties
Increases cultural awarness
increased cross cultural understanding
The spread of information technology with globalization
inspiration and good ideas spread more rapidly
Encourages free trade
few barriers in terms of tariffs, sales, taxes or subsidies
More trade brings more job opportunities
less volatility between currencies
communication more freely
wider scope of trade opportunities
access to more information
Cons
lack of human rights, labour rights and environment protection
Enterprises seek to reduce taxes in countries with a low tax rate
Labour and environmental laws in developing countries do not have the same high standards as countries in europe
cultural homogenity
due to products becoming more standardised
increased influence of multinational corporations
reduced state sovereignty
Less jobs in more rich and developed countries
Developing countries attract companies to produce products to a fraction of the labout cost in rich countries