Globalization: The Pros And Cons Of Economic Globalization

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Research Paper

Economic globalization has increased over the years more rapidly than anyone ever expected. The invention of new technological improvements, services and businesses is creating a major impact for the increasing trade of good and services between other countries. Globalization is the worldwide movement toward goods, services, technology and capital, it is countries trading internationally establishing business between other countries for financial or specific resources. states globalization is also a major importance for the exchange of ideas and ideologies throughout worldwide cultures. There are various advantages and disadvantages that come with international trade and by the end of the essay we will find out overall if the pros outweigh the cons for economic globalization.
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Globalization has allowed companies like Nike to find cheap labor in another country and trade it for product to make greater profit and produce more merchandise. Is this ethical? This is where people disagree and have their opinions. They state pros such as it makes companies more competitive and the result of lower prices for consumers is the great idea or it brings capital, and technological improvement to impoverished nations. This brings decisions making for the people of the world which is why it turns into a political debate. In the world we live in today anything that is profit is good for the person making the profit but like the good old laws of economics it simply states that there is always an opportunity cost that comes with everything you choose. So what is the opportunity cost that comes with Nike choosing the work labor in another country versus work labor in

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