Globalization: Advantages and Disadvantages
What follows is a brief summary of the advantages and disadvantages of globalization:
Some Advantages of Globalization:
- Increased free trade between nations.
- Increased liquidity of capital allowing investors in developed nations to invest in developing nations.
- Corporations have greater flexibility to operate across borders.
- Global mass media ties the world together.
- Increased flow of communications allows vital information to be shared between individuals, nations, and corporations around the world.
- Greater ease and speed of transportation for goods and people.
- Reduction of cultural barriers increases the “global village” effect.
- Spread of democratic ideals to non-democratic nations.
- Greater interdependence between nation-states.
- Reduction of likelihood of war between developed nations.
- Increases in environmental protection in developed nations.
Some Disadvantages of Globalization:
- Increased flow of skilled and non-skilled jobs from developed nations to developing nations as corporations seek out the cheapest labor.
- Increased likelihood of economic disruptions in one nation affecting all nations.
- Corporate influence of nation-states far exceeds that of civil society organizations and average individuals.
- Threat that the control of world media by a handful of corporations will limit cultural expression.
- Greater chance of reaction to globalization being violent in an attempt to preserve cultural heritage.
- Greater risk of disease vectors being transported unintentionally between nations.
- Spread of a materialistic lifestyle and attitude that sees consumption as the path to personal fulfilment.
- Increased likelihood of international bodies like the International Monetary Fund and the World Trade Organization infringing on national and individual sovereignty.
- Increase in the chances of civil war within developing countries and open war between developing countries as they vie for scarce resources.
- Decreases in environmental integrity as polluting corporations take advantage of weak regulatory rules in developing countries.
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