10-08-2012, 02:22 PM
GLOBALIZATION
globlzatn.pptx (Size: 110.1 KB / Downloads: 73)
What is Globalization?
Globalization is a series of social, economical, technological, cultural, and political changes that promote interdependence and growth.
Globalization raises the standard of living in developing countries, spreads technological knowledge, and increases political liberation.
One of the benefits of globalization on a social level is an increased Human Development Index. The Human Development Index is a measurement of a country's social, political, and economical growth in comparison to other countries in the world.
Negative aspects of Globalization
Globalization has led to exploitation of labor. Prisoners and child workers are used to work in inhumane conditions. Safety standards are ignored to produce cheap goods.
Earlier people had stable, permanent jobs. Now people live in constant dread of losing their jobs to competition. Increased job competition has led to reduction in wages, and consequently, lower standards of living.
Positive aspects of Globalization
Globalization has created the concept of outsourcing. Work associated with software development, customer support, marketing, accounting, and insurance is outsourced to developing countries like India. So, the company that outsourced the work enjoys the benefit of lower costs because the wages in developing countries is far lower than that of the developed countries. Workers in the developing countries get employment. Developing countries get access to the latest technology.