What Are The Positive Benefits Of Globalization

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Globalization leads to sustainable development economically without compromising the environment. Sustainable development is development that can meet present needs without compromising the needs of future generations. Sustainable development is about improving the quality of life, conservation of the environment, using resources efficiently and advancing long-term economic competitiveness. Globalization is the process of interaction and integration of people, companies, and governments of different nations. The globalization process has effects on the environment and the economy in societies around the world. It is argued that Globalization has negative aspects but the positive aspects outweigh the negative. When it comes to sustaining the …show more content…
Countries also make decisions based on their self-interest, because they have to do what is right for the betterment of their own country. Globalization would allow countries to work together so that more than one country would benefit from economic decisions made. Many sustainability advocates “start from the premise that an open, dynamic economy is inherently unsustainable because producers and consumers are primarily concerned with their own self-interest”. Without a centralized control mechanism, it is argued, “the economy expands infinitely while the earth’s resources are finite”. When countries work together globally through a central body they are able to positively impact environmental sustainability. For example goal 7 a) of the United Nations Millennium is to ensure environmental sustainability. Target 7 a) is meant to “integrate the principles of sustainable development into country policies and programmes and reverse the loss of environmental resources”. A positive impact of a globalized goal by the United Nations occurred at the Rio+20, the United Nations Conference on sustainable development. The global world came together to “approve an agreement entitled ‘The Future We Want’ and more than five-hundred and thirteen billion dollars was pledged towards sustainable development initiatives”. Because of global efforts for sustainable development, large corporations are now incorporating social responsibility …show more content…
Anytime there are multiple producers competing for a hold on the economy, that’s a good sign for consumers, as the quality of goods and services often increases as a result. When competition is not present or limited the quality of goods tends to remain the same without improvements. Some countries believe that decreasing the amount of foreign competitors in their country’s market would make products produced in their country thrive which can be disastrous when it comes to advancements. In India, in the 1970s Hindustan Motors was producing the same car, which was the Ambassador car which it is still producing as it was produced since they manufactured it in 1957. Throughout its history, Hindustan Motors has depended on government patronage for its sales and survival by reducing competition. By the government reducing foreign competition they were able to keep manufacturing the same car and their citizens would continue to buy it because due to lack of competition Hindustan Motors was the leading car manufacturer at the time in India. Before Hindustan Motors had foreign competitors (1980) they were doing well financially now their income profit is only 500 million rupees because they still have only minimally improved their cars. Their foreign competitors make almost make eighty times their profit. So when “businesses started to venture across

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