The Pros and Cons of Globalisation - 1011 Words

Advocates of globalisation say that globalisation brings the first real chance of prosperity to the impoverished corners of the world. Opponents say globalisation is the cause of growing poverty and inequality on the planet. Those in the middle see how unbridled globalisation could wreak havoc on some while simultaneously opening the doors of opportunity to others. But what actually is globalisation? What is globalisation? The term globalisation was originally started in the 1960s to describe international capital flows. Today however, globalisation is not just capital flow, but a revolution to make individual nations part of a global village, under one legislation. Basically, its to remove the distance between countries. As a†¦show more content†¦Green house gasses are one example. Through the Kyoto Treaty, most of the worlds leading nations have signed a contract to reduce greenhouse emissions. Only America and Australia have not signed. What are some of the disadvantages of globalisation as put forward by the anti globalisation movement? In this utopian idea, there are still flaws and disadvantages; mainly concern the developing countries. Some countries are just not able to compete with the cheap labour costs of other nation. The reason why countries such as Russia remain not integrated with globalisation is because they would lose many jobs. They are not able to compete with the prices of foreign products and many of the local manufacturers would begin to close down. Employment, nationally, would decrease as the factories move to countries of cheaper labour costs. Also, Australia has suffered because of the lamb tariffs in the U.S. As a result of this, many Australian farms will become bankrupt. George Bush, though an avid supporter of free trade and trade liberalisation has puts tariffs on lamb to help the ailing U.S. farming industry. Such hypocrisy however, does not help promote the benefits of globalisation. Despite claims from pro-globalisation companies the globalisation helps alleviate poverty, the Oxfam Community Aid Abroad estimates the 60 countries, a third of which are African, have become poorer since 1990. But why? Before some developingShow MoreRelatedGlobalization : Globalization And Globalization Essay1009 Words   |  5 Pages[GLOBALISATION SUMMARY] October 31, 2016 Toan Nguyen-16438943Page 1 Globalisation Summary Globalisation nowadays is one of the most concern topics which seem useful to understand by people who live in modern society, especially who work in business and economy industry. Globalisation could be learned or understanding in term of history, size, current status, trends and impact of it and whether it is a good or bad thing. First of all, globalisation can be understand as the process by which businessRead MoreThe Impact Of Globalisation On The Uk Economy Essay1718 Words   |  7 Pagesworld. 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