Essay about Summary on Globalization
Scholars indicate the increasing economic integration and interdependence of national economies across the world through a rapid increase in cross-border movement of goods, service, technology, and capital. It can be said …show more content…
The anti-globalization movement developed in opposition to the perceived negative aspects of globalization. The group represents a wide range of interests and issues. Opponents of globalization point out to its negative effects. Some of them are listed below.
• Globalization has led to exploitation of labor. Prisoners and child workers are used to work in inhumane conditions. Safety standards are ignored to produce cheap goods.
• Job insecurity. Earlier people had stable, permanent jobs. Now people live in constant dread of losing their jobs to competition.
• Terrorists have access to sophisticated weapons enhancing their ability to inflict damage.
• Companies have set up industries causing pollution in countries with poor regulation of pollution.
• Fast food chains like McDonalds and KFC are spreading in the developing world. People are consuming more junk food from these joints which has an adverse impact on their health.
• Local industries are being taken over by foreign multinationals.
• The increase in prices has reduced the government’s ability to sustain social welfare schemes in developed countries.
• Multinational Companies and corporations which were previously restricted to commercial