Essay on Effects of Globalization on Indian Economy! It means to open the Trade and Economy for the international players.
Student Answers avasbruce Student There are benefits and disadvantages to globalization. Firstly, globalization is good for certain countries more, such as those in the First World or Global North.
Think of McDonald's and Starbucks and other big American brands. We can find McDonald's everywhere almost. Due to globalization, many local brands and businesses in poorer developing countries go bankrupt and can't survive the economic might of these rich countries.
Local cultures and traditions change.
People no longer wear national costumes because they all want to look like Hollywood stars and wear jeans, for example. People want to become "American" and consume everything American. Also because of globalization, more and more people are learning and speaking English to the detriment of local languages.
There are more international schools and the focus now is on the acquisition of this global language rather than their own L1 or mother tongue.
Resources of different countries are used for producing goods and services they are able to do most efficiently. Consumers to get much wider variety of products to choose from. Consumers get the product they want at more competitive prices.
Companies are able to procure input goods and services required at most competitive prices.
Companies get get access to much wider markets It promotes understanding and goodwill among different countries. Businesses and investors get much wider opportunities for investment. Adverse impact of fluctuations in agricultural productions in one area can be reduced by pooling of production of different areas.
Developed countries can stifle development of undeveloped and under-developed countries. Economic depression in one country can trigger adverse reaction across the globe. It can increase spread of communicable diseases. Companies face much greater competition. This can put smaller companies, at a disadvantage as they do not have resources to compete at global scale.
For more info about the pros and cons of globalization, check out this video:Globalization, poverty is the interconnection of global and lack of basic needs that affect people cross the world. We will write a custom essay sample on. Globalization and poverty. or any similar topic specifically for you.
Do Not Waste. Globalization and Poverty yields several implications. First, impediments to exports from developing countries worsen poverty in those countries.
Second, careful targeting is necessary to address the poor in different countries who are likely to be hurt by globalization.
Does globalization negatively or positively impact poverty alleviation? According to economist Pranab Bardhan,. Antiglobalizers’ central claim is that globalization is making the rich richer and the poor poorer; [while] proglobalizers assert that it actually helps the poor.
Governing global desertification: linking environmental degradation, poverty and participation. Ashgate Publishing. Ashgate Publishing. ISBN Read Globalization and Poverty by UChicagoPress for free with a 30 day free trial.
Read eBook on the web, iPad, iPhone and Android. MB– International Business Management (Book ID: B) ASSIGNMENT-1 Q.1 Ans. write a short note on ‘globalization’. The term "globalization" has acquired considerable emotive force. Some view it as a process that is beneficial – a key to future world economic development – and also inevitable and irreversible.