GLOBALIZATION - is it more of an advantage or a disadvantage?

Answer 1

The world as a whole wins from globalization. To undesrtand why, you need to go back to David Ricardo and his concept of comparative advantage. But it does not mean that globalization is a problem-free process. For one thing, gains and losses accrue to different people to a different degree. Typically, globalization gains accrue to large numbers of people in small ways (for example, a certain item that 200 million people all over the world buy every day now costs on average 80 cents instead of 90), while globalization losses are highly concentrated (say, 800 workers who used to manufacture that item in France lost their jobs because the item is available more cheaply from Ireland, Poland, or Bangladesh).

Answer 2

It is an advantage, not only will the world benefit but survival of the better will too. If Ford and GM make crappy cars then they will not do well in Globalization against the Chinese and like the Japanese car makers have forced Ford and GM to make better cars. Survival of the better will definitely be an advantage as everyone will attempt to excel in order to make things work. Poorer countries will be exploited for cheap labour where there is no labour today at least they will be getting some of the pie which is better than starving to death. Globalization will also force us to get along more as is happening to some extent right now as countries vie to be recognized as countries and others that are bullies are being treated as such when years ago they got away with this sort of crap, now it will be different. Other countries will realize that the USA cannot do it all by themselves and will have to start to contribute on a global basis. Globalization will be hard but nothing good is ever really simple.

Answer 3

Adam Smith said that trade weakens a nation, Wakefield challenged this and said that trade allowed people to purse a better living, since now countries can specilise in what they produce.

Globalisation is the free flow of capital, goods and people across nations. By doing this every country can produce goods that they have a comparable advantage on, so resources are allocated efficiently. Globalisation helps in creating new markets and does help improve the quality of our living standards. Its because of Globalisation that i get to access the internet via my CPU made in Taiwan, screen from S. Korea and modem from Germany, while enjoying coffee from Brazil. Globalization allows firms to take advantage of different countreis' comparitive advantages and produce goods much cheaper.

Although what we have today is globalisation with rules that disadvantage the under developed nations. The US and EU subsidises its agricultural produce, making it hard for outsiders to come in and compete in those markets. Surpluses as a result of these subsidies are dumped in less developed African countries and end up flooding their markets, making it difficult for small farmers to compete even in their own domestic markets. The US and EU are hypocrits in this sense. With the break down of the WTO talks, it seems that this problem may still persist. Other protectionist policies also disallows more efficient producers from competing in these protected markets.

What is needed is a Globalization that has a level playing field, one that ensures that the rich don't just get richer by a mile and the poor getting poorer, but one that limits the winners, and losses suffered by the losers.

Answer 4

Depends on who you're referring to. Its a great advantage to countries that have a poor standard of living and high unemployment. Many new jobs created and an influx of capital.

Its a disadvantage to countries used to exporting goods; especially those with higher wages, as the competetion from the lower wage earning countries can severly damage local economies and put people out of work.

Answer 5

it is more of an advantage than disadvantage for variuos sharing of views cultures and finacially we can uphold the poor etc

Answer 6

It is definitely better. Globalization means more consumers for everyone.

Answer 7

its is more of disadvantage of course