What is the impact of globalization?
Globalization, or the totally interconnected marketplace, has many negative effects on the world at large. It creates a system that favors countries that are already developed while widening the gap with developing countries. This income inequality is also witnessed at the societal level in both developed and developing countries. Globalization also tends to favor multinational corporations because of the resources at the disposal of these faceless organizations. With the emphasis on corporations that are impersonal, populations are exploited as corporations disregard the needs of countries and individuals.
Globalization can also be harmful to the environment because of the competition it elicits. Countries that hope to become developed and be successful in the new global economy disregard international pollution protocols and environmental standards. This creates health issues for those populations and may contribute to global climate change.