3 Answers | Add Yours
Globalization has a number of negative affects involving the well being of people. Major corporations have shown they are able to overrule foreign policy decisions. I do not think we should be able to trust these major corporations in the decision making of our global arena when their intentions are mainly in producing more profits for their corporation. The top 100 companies own 33 percent of the worlds assets, but employ only one percent of the worlds workforce. Globalization has allowed these corporations to grow to such an insane level, producing power that allows them to stand above the the demands of national governments or international government such as the United Nations, Red Cross, etc. The information these corporations process is kept from entering the public, and even the lower levels within their corporation. The rise of these power house corporations have helped destroy the U.S. economy by creating a devastatingly high trade deficit, which shifted the dominant power of the United Stats economy to China. As of 2011, China is on track to take over the United States by 2025.
Globalization has allowed for the spread of customs, language and products. Globalization has allowed for people to be able to attain goods and services not previously available. You can find Coca-Cola, McDonalds and KFC in most major cities throughout the world. Globalization has allowed people to become familiar with the culture of other countries allowing for a greater understanding. While globalization opens doors it also leads to blending of cultures and the deterioration of unique cultural differences. The negatives of globalization include gap between rich and poor, reduction in individual sovereignty of a nation, environmental pollution and susceptibility of all parts of the world suffering with recession in other countries.
We’ve answered 327,920 questions. We can answer yours, too.Ask a question