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. Debate.org 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.
There are various debates on whether globalization is overall good for the economy or bad, everyone has a different opinion on it and it impacts everyone in a different way. 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 ev...
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...erved but in an unethical way but to them it doesn’t affect them so why stop it if it only affects a country who is already struggling. What I think of the ongoing debate towards globalization is that something must be done. Something must be done because the disadvantages and advantages are to separate and one defiantly outweighs the other by a lot. If we look back Nike created poor working conditions, created poor wages, created thousands of American jobs to be lost all for a consumer to save a couple dollars on a product and create a dramatic profit for the company. Of course jobs were created in a poor economy but I don’t believe companies who utilities globalization help out the country more instead they overuse the country and falsely claims they are helping but with what they make profitably they make no dent in improving the country for the global economy.
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