Globalization (Pros and Cons)

Globalization: the increase in global relationships  of culture, people, and economic activity through the distribution of production of goods and services. Here is a table with the pros and cons.

Pros

Cons

1.       It promotes global economic growth, creates jobs, make companies much more competitive, and lower price for consumers. 2.       It promotes global trust and respect for others around the globe 3.       It allows consumers to access products from difficult countries 4.       It allows for political powers to merge and decisions that benefit the entire world. 5.       There is cultural intermingling and rapid communication between countries. 6.       Socially we have become more tolerant. 7.       The speed of travel, communication, and information accessibility has increased through the internet. 8.       Corporations and governments are trying to sort out ecological problems for each other

1.       The biggest problem is that the rich are getting richer and poor getting poorer. 2.       Unfair work conditions have been associated with Multinational Corporation. 3.       The rich and Multinational Corporation are influencing political decisions and are becoming less accountable for their actions. 4.       There is a drastic gap between the richest and poorest countries, as a result  globalization is not benefiting everybody it is accounted that the richest 20 percent of the world population consume 86 percent and poorest 14. 5.       It has also increased the spread of diseases. 6.       It has led to the exploitation of labor because prisoners and child workers work under inhumane condition.

                                                         Reference
http://www.manufacturing.net/articles/2010/06/the-pros-and-cons-of-globalization