Within the last 20 years technology has evolved tremendously, to the point where now we can send and receive phone calls, emails and sms messages within milliseconds, this technological revolution has opened windows of opportunity for everyone, especially multinational corporations who have accepted this new technology with open arms and used it to drastically lower their costs, taxes and deliver their products worldwide, thus rapidly increasing their annual revenue. This phenomenon is known as globalization, ‘which is the process of integration and integration among the people, companies and governments of different nations, it is a process driven by international trade and investment aided by information technology’. Globalization has had
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Relocating their employments overseas reduces theirs costs tremendously and therefore rapidly increases their profit margins. Economically developing countries like India have accepted this new employment opportunity without protest as it has had significant benefits for their country both economically and culturally, it has allowed for many of the population the opportunity to a new life with a decent salary and therefore a better standard of living, in fact these job opportunities are in such high demand that in the city of Bangalore, India some call centers receive ‘between 10,000 and 15,000 resumes per month’. In addition, Globalization has had many more advantages for these developing countries such as: opening new doors to new markets because it leads to freer trade between countries, therefore allowing them access to new technologies, foods and business opportunities. Furthermore, the increase in employment has benefited both the countries economy and the population itself, not only has it increased the working populations standard of living due to increased wages and disposable income but it has allowed for …show more content…
Within developing countries a decent salary is significantly cheaper than in countries such as the United States, therefore causing the working classes to have to settle for low salary service jobs just to maintain a regular income or face massive salary cuts to maintain there jobs and prevent companies moving their employment overseas. At this current moment in time the unemployment rate within America stands at 4.9% in June 2016 having been as high as 10% in October of 2009. An example of outsourcing for economic benefit would be from the documentary “ The death of distance: Outsourcing white collar exodus” which is when the Lori Wallach is interviewed saying “Why should I pay a US engineers $150,00 from his work when I can get a really bright person with a PhD in India who’s going to worth same for $15,000.” this is a prime example of how companies are taking advantage of Globalization and the developing world. In addition, the effects of globalization haven 't just negatively affected the public and working population of developed countries, it has also affected the country itself! An example of this is within the trade deficits of Great Powers such as
Relocating their employments overseas reduces theirs costs tremendously and therefore rapidly increases their profit margins. Economically developing countries like India have accepted this new employment opportunity without protest as it has had significant benefits for their country both economically and culturally, it has allowed for many of the population the opportunity to a new life with a decent salary and therefore a better standard of living, in fact these job opportunities are in such high demand that in the city of Bangalore, India some call centers receive ‘between 10,000 and 15,000 resumes per month’. In addition, Globalization has had many more advantages for these developing countries such as: opening new doors to new markets because it leads to freer trade between countries, therefore allowing them access to new technologies, foods and business opportunities. Furthermore, the increase in employment has benefited both the countries economy and the population itself, not only has it increased the working populations standard of living due to increased wages and disposable income but it has allowed for …show more content…
Within developing countries a decent salary is significantly cheaper than in countries such as the United States, therefore causing the working classes to have to settle for low salary service jobs just to maintain a regular income or face massive salary cuts to maintain there jobs and prevent companies moving their employment overseas. At this current moment in time the unemployment rate within America stands at 4.9% in June 2016 having been as high as 10% in October of 2009. An example of outsourcing for economic benefit would be from the documentary “ The death of distance: Outsourcing white collar exodus” which is when the Lori Wallach is interviewed saying “Why should I pay a US engineers $150,00 from his work when I can get a really bright person with a PhD in India who’s going to worth same for $15,000.” this is a prime example of how companies are taking advantage of Globalization and the developing world. In addition, the effects of globalization haven 't just negatively affected the public and working population of developed countries, it has also affected the country itself! An example of this is within the trade deficits of Great Powers such as