Assess The Benefits Of Globalization

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Globalisation is a highly contested term, where different perspectives have emphasis placed on different areas. With that being said, there is a broad level of agreement on the nature of globalisation. Globalisation is ‘a process which embodies a transformation in the spatial organization of social relations and transactions, generating transcontinental or interregional flows and network of activity, interaction and the exercise of power.’ (Held et al., 1999) At a simple level, globalisation has meant an increase in international trade, development of multi-national corporations, for example, McDonalds, free trade (movement of goods and services) through organisations such as the World Trade Organisation, free movement of labour, and an inter-connected …show more content…
As companies will do what is better for their interests, if they are able to source labour that is cheaper in another country, they may make the decision to move operations to that country, leading to the closing down of the existing factories or workplaces, and redundancy for those workers. Thus, whereas the workers have more risks attached, once again transnational corporations are benefitting more from globalisation.
Another incredibly important group that benefit from globalisation are consumers. Consumers are able to gain a wide variety of products, lower prices and increased choices. This is due to free trade, as countries are able to specialise in producing goods at a lower cost, which means lower prices for consumers.
A positive that arises from this is due to the number of products of available, it can bring awareness to the inequality experienced by the people producing these products, for example, the rise of fair trade. Chandler states that ‘fair trade gives consumers an opportunity to exercise a moral choice in their own purchasing practices. The regular purchase and of fair trade items can act as a powerful reminder and reinforcement to the individual of their commitment to promoting economic justice’ (2006, p.256). So due to the increased variety of products, consumers benefit from

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