Deadline: Tuesday 24th September, 2013 Presented to Mrs.. Sophia Amah by Leticia Poor©-Hill Globalization refers to the ongoing integration of technology, economy, politics, communication, and cultural exchanges worldwide without hindrance or barriers. Its objective is to eliminate obstacles in trade, communication, economy, politics, and cultural exchange. The fundamental idea behind globalization is that global openness will benefit all nations economically.
When contemplating which country benefits the most from globalization, the United States of America stands out. Globalization has a notably positive effect on specific countries, particularly those in the First World or Global North. Wealthy nations like the USA have the opportunity to extend their sales of products and goods to previously untapped markets in the Global South or impoverished nations. One need only consider renowned American brands such as McDonald's and Starbucks to grasp the global presence and importance of
...these multinational corporations.
McDonald's is widely present in Taiwan due to globalization. However, this has had a negative impact on the country as numerous large multinational companies from North America have established factories there to take advantage of cheap labor and available unskilled workers. As a result, Taiwan's development has been hindered because it now heavily relies on these corporations for job opportunities and limited income.
As a result, these multinational corporations can exert influence on the Taiwanese government to lower or eliminate environmental standards. The controversy surrounding this issue is further exemplified by complaints against Nikkei, a major multinational company, for employing young children in factories under abhorrent conditions. Thus, Taiwan bears the negative consequences of globalization, which encompasses both positive and negative impacts.
Both consumers and companies benefit from globalization. Consumers
have access to desired products at competitive prices and a wider range of choices. Companies can procure input goods and services at more competitive prices, while also gaining entry into larger global markets. As a result, businesses and investors both have improved investment opportunities.
Globalization benefits consumers and companies by providing access to affordable products and services. However, it is crucial to recognize that no process, including globalization, is flawless. The 1929 "Wall Street Crash" in New York exemplifies how economic downturns in one country can impact nations worldwide, emphasizing the global interdependence among countries.
The interdependence between exporting and importing countries highlights the reciprocal reliance between them. One major disadvantage for companies, particularly smaller local ones, is the increased competition they face. Limited resources hinder their ability to compete on a global level.
One downside of globalization is that developed countries can hinder the progress of less developed nations by relocating their factories to these countries. This creates a situation where underdeveloped nations become dependent on developed countries. The poorest countries require these factories because they create both employment opportunities and income, albeit in small amounts. This emphasizes the significance of considering the advantages and disadvantages of globalization.
Source :
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