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Globalization negative effects on economy
The role of multinational corporations
The role of multinational corporations
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The one thing that the world definitely needs to do is a better way of understanding globalization. Today, in the era of globalization, which concerns different aspects of life, such as politics, economics and society, it is hard to imagine the life without thousands of goods and services from all over the globe. There are hundreds of multinational corporations that are widespread all over the world, such as Mc Donald’s and Burger King, Coca Cola and Pepsi, Apple and Samsung, Nike and Adidas and others. Today grocery stores offer fruits and vegetables that were grown in South America, clothes that were made in China or Vietnam, and cars that have been manufactured in Mexico, India, South Africa or Brazil. All of that is the result of the economic globalization. The economic globalization is the process of integration of markets and interaction among people, companies and states. Multinational corporations play a huge role in globalization by opening its factories abroad, usually in developing countries, such as, China, India, Vietnam and Bangladesh, in order to find a cheap labor force, escape from taxes and environmental regulations. Multinational corporations promise countries economic development and prosperity, but in reality they put workers under terrible conditions by creating sweatshops and using child labor. Despite all the promises that multinational corporations will benefit developing countries, economic globalization and specifically multinational corporations actually widen the gap between developed and developing countries by using sweatshops, child labor and violating human rights. Therefore, it would be beneficial to impose tariffs on multinational corporations and create stable organizations that will control mul...
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... 'The Noble Feat Of Nike By Johan Norberg'. Spectator (2003): 1-5. Print.
Pierik, Roland, and Mijke Houwerzijl. "Western Policies On Child Labor Abroad." Ethics & International Affairs (Wiley-Blackwell) 20.2 (2006): 193-218. Academic Search Premier. Web. 16 Apr. 2014.
Rudra, Nita. "Are Workers In The Developing World Winners Or Losers In The Current Era Of Globalization?." Studies In Comparative International Development 40.3 (2005): 29-64. Academic Search Premier. Web. 23 Apr. 2014.
Seidman, Gay W. "Regulation At Work: Globalization, Labor Rights, And Development." Social Research 79.4 (2012): 1023-1044. Academic Search Premier. Web. 25 Apr. 2014.
Suryahadi, Asep, Agus Priyambada, and Sudarno Sumarto. "Poverty, School And Work: Children During The Economic Crisis In Indonesia." Development & Change 36.2 (2005): 351-373. Academic Search Premier. Web. 16 Apr. 2014.
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Naomi Klein’s No Logo states that corporations have been championing globalization using the reasons that globalization allows U.S. consumers to benefit from cheaper products produced abroad, while developing nations benefit from the economic growth stimulated by foreign investments. The generally accepted belief is that governmental policies should be established in favor of the corporations to facilitate the trickling down of corporate profits to the end consumers and workers abroad. Klein, however, contends that globalization rarely benefit the workers in the developing countries.
...ade even more miserable and the workers have their rights violated. Both sources describes the elite nations taking advantages of the less developed countries, it may not be the country but the worker in it. Workers overseas get lower wages compared to the workers working in the more developed countries. Exploited, there’s nothing that the workers can do about it since they aren’t allowed to create unions to protect themselves. Countries are now even more in debt as some people believe that the IMF and the World Bank take advantage of them controlling not only their economy but even their politic. Inflation happens to a country, and in Jamaica, chaos was created due to that issue, the people become pugnacious and became rebellious. Economic globalization can bring many good opportunities but it could also bring some sort of different adverse outcomes to a country.
Globalization helps many people achieve greatness. But for the majority it brings hardships and struggle. People will be plagued by the effects of globalization and will have a tough time over coming it. We are far from reaching a point where we can say we have sustainable prosperity throughout our world. But before we focus in on sustaining prosperity, we must first reach prosperity and bring it to all corners or the earth.
From an average American's perspective, globalization is a win-win situation for everyone involvedt. But we fail to see the other end of this situation, where lower-class families around the world are faced with troubles. In countries such as Indonesia and India, American companies purposely set up factories and take advantage of the population by giving them wages below minimum wage to manufacture their products. Families are forced to send their children to work in these factories in order to make enough money to survive. When there is only enough money to put food on the table, living conditions are poor and necessities such as clean water are not as available as they are for us Americans. In other countries such as Colombia, the drug trade is prevalent everywhere and is used as a source of income for many farmers who only want to produce crop for money so their families can prosper. Billions in Aid is given from the U.S government to find a different crop to use but nothing is accomplished as drug shipments continue to come in to America and drug crops are still being produced. If we are ever going to make Globalization beneficial for all, there must be a universal effort to employ laws to protect the lower class who can't afford to protect themselves.
These results change or modify political organizations to be suitable for the needs of global capital. Regions and nations are encouraged to import and export of goods from other parts of the world rather than supplying or manufacturing them in their own homeland. Thus, seeking expensive manufactured supplies or goods from third world countries to import them to the first world corporation’s injunction with the free trade zones of globalization (Ravelli and Webber, 2015). These negotiations raises new organizations, for example, the World Trade Organization (WTO) to aid and supervise both countries to for a legalized trade. However, Neoliberalism amplifies the negative aspects of globalization’s effect on the economy. For example, deregulation, decrease of government benefits, and tax modifications (Bunjun, 2014). Nevertheless, relating these negative aspects to the documentary Made in L.A. (Carracedo, 2007) which is the main issue of increased risk of employment for both the first world and third world countries. In regards to, a switch from full time stable and secure jobs to part time unstable and insecure jobs. This reduces career growth for many employees, which they recognize, and thus switch jobs – where as they may not fit as well (Bunjun, 2014). As a result, globalization causes market inefficiency via labor market segregation and exploitation, unemployment and underemployment, unequal access to employment (Bunjun,
Child Labor is not an isolated problem. The phenomenon of child labor is an effect of economic discrimination. In different parts of the world, at different stages of histories, laboring of child has been a part of economic life. More than 200 million children worldwide, some are as young as 4 and 5 years old, are slaves to the production line. These unfortunate children manufacture shoes, matches, clothing, rugs and countless other products that are flooding the American market and driving hard-working Americans out of jobs. These children worked long hours, were frequently beaten, and were paid a pittance. In 1979, a study shows more than 50 million children below the age of 16 were considered child labor (United Nation labors agency data). In 1998, according to the Campaign for Labor rights that is a NGO and United Nation Labor Agency, 250 million children around the world are working in farms, factories, and household. Some human rights experts indicate that there are as many as 400 million children under the age of 15 are performing forced labor either part or full-time under unsafe work environment. Based upon the needs of the situation, there are specific areas of the world where the practice of child labor is taking place. According to the journal written by Basu, Ashagrie gat...
Globalization is an important contemporary phenomenon and it is difficult to avoid the trend. Its development as well as make people recognize each other's lives in an interdependent global village. Therefore, globalization encourages people to care about many global equity issues such as peace, justice, environmental protection. Like many phenomena, there are both sides of pros and cons in globalization. Globalization can create new opportunities for the expansion of international trade, and enhance global commodity circulation and improve cultural exchange (Krier, 2001). It is beneficial to the development of integration with the global economy. Emphasizing efficiency in terms of globalization
In this essay, I will be talking about how the changes in demographic characteristics of Indonesia over the past 10 years can affect its economy in terms of unemployment, GDP (Gross Domestic Product), and poverty. Unemployment is an economic condition marked by the fact that individuals seeking jobs but remained unhired. A country's GDP is the total market value of all final goods and services produced in a country. Poverty is when the income of people is below the GNP (Gross National Product) per capita of a country with scarcity of means and subsistence.
So I believe that the issue of child labour is not simple. As Unicef’s 1997 State of the World’s Children Report argued, children’s work needs to be seen as having two extremes. On one hand, there is the destructive or exploitative work and, on the other hand, there is beneficial work - promoting or enhancing children’s development without interfering with their schooling, recreation and rest. ‘And between these two poles are vast areas of work that need not negatively affect a child’s development.’ My firm belief is that there is a difference between child labour and child work and that in both cases the issue is whether or not the child is deliberately being exploited.
First of all globalization has led to exploitation of labor. We can’t ignore the fact that ethical aspects of international business deserve special attention. Corruption and engaging in illegal practice to make greater profit is a source of continuing controversy. Sometimes companies go international and move their production to foreign countries so they could employ workers for long hours, at low wages and in poor working conditions (sweat shops). They are also using child labor, the employment of children to a full time work that can be otherwise done by adults all that so they could get out of their responsibility towards their workers by avoiding paying them national insurance …When these multinational firms go abroad they forget all about principles and about human beings and their rights, according to Kent, J., Kinetz, E. & Whehrfritz, G. (2008/March24). Newsweek. Bottom of the barrel. “The dark side of globalization: a vast work force trapped in conditions that verge on slavery”, David, P. Falling of The Edge, Travels through the Dark Heart of Globalization..Nov 2008. (p62) also agrees with them when he explained his concerns about Chinese and Indians t...
Now, before I bash globalization it is some positive I would like to discuss. Globalization is great for the American economy; we can supply the world with our goods and services, which in turn can possible, relieve the deficit we’re in. “Homegrown industries see trade barriers fall and have access to a much wider international market. The growth this generates allows companies to develop new technologies and produce new products and services.” (Buzzle) Also, globalization leads to better relations between countries when they create trade agreements. Globalization does not drain every under-developed company but brings a new era of economic change and the hope of being a world super power to certain nations. “Economic globalization gives governments of developing nation’s access to foreign lending. These funds are used on infrastructure including roads, health car...
One of the many negative effects that accommodates with globalization on developing countries is exploitation of labour. With a competitive global market, inflation, and cheaper labour costs in developing countries, exploitation of labour is readily...
Globalization’s history is extremely diversified and began during the beginning of civilization. Now we live in a world that is constantly evolving, demanding people to use resources in locations that are very difficult to obtain certain resources. This could make it completely impossible to operate in these specific parts of the world. However, globalization allows people across the world to acquire much needed resources. Globalization creates the opportunity for businesses to take advantage and exploit the ability to take part of their business to a different country. Nevertheless, globalization is part of today’s society and will be involved in virtually all situations.
Child labour is an issue that has plagued society since the earliest of times. Despite measures taken by NGOs as well as the UN, child labour is still a prevalent problem in today’s society. Article 23 of the Convention on the Rights of a Child gives all children the right to be protected from economic exploitation and from performing any work that is likely to be hazardous or to interfere with the child 's education, or to be harmful to the child 's health or physical, mental, spiritual, moral or social development.1 Child labour clearly violates this right as well as others found in the UDHR. When we fail to see this issue as a human rights violation children around the world are subjected to hard labour which interferes with education, reinforces