Globalization is the integration of world economies through free trade. There are advantages and disadvantages to globalization. The are more products but there is more inequality. People in developing countries get factory jobs but they are paid very little.
PROS TO GLOBALIZATION
*More foreign goods. In Canada, with economic globalization, we are able to eat fresh fruits and vegetables in winter. Make lives easier for us.
- With the trade happening around the world, there is more diversity. While we are in Canada, we can go out and eat Chinese, Thai, Greek foods, and watch US's movie.
- Helping developing countries. Transnational corporations setup in developing countries offering jobs for the people in developing countries, help those countries to recover from poverty.
CONS TO GLOBALIZATION
- Threat to local markets. When a transnational corporation opens up, people tends to go shop at the transnational corporation because there is varieties of goods to choose from. Cause local markets' business to go downwards, and eventually close up.
- When economic globalization is bring us diversity, its also destroying peoples' culture. Most movies, and TV shows that we watch and music we listen to in Canada is produced in US. American's culture is dominating the world and assimilate other cultures.
- Countries become too interdependent with each other .When one country's economic system crashes, it will cause a huge impact to world. It will be like the Great Depression all over again, but this time it will happen to the world not just America.
- When the governments of the developing countries trying attack transnational corporation, it causes a lot human rights problems like child labor.
PROS TO GLOBALIZATION
*More foreign goods. In Canada, with economic globalization, we are able to eat fresh fruits and vegetables in winter. Make lives easier for us.
- With the trade happening around the world, there is more diversity. While we are in Canada, we can go out and eat Chinese, Thai, Greek foods, and watch US's movie.
- Helping developing countries. Transnational corporations setup in developing countries offering jobs for the people in developing countries, help those countries to recover from poverty.
CONS TO GLOBALIZATION
- Threat to local markets. When a transnational corporation opens up, people tends to go shop at the transnational corporation because there is varieties of goods to choose from. Cause local markets' business to go downwards, and eventually close up.
- When economic globalization is bring us diversity, its also destroying peoples' culture. Most movies, and TV shows that we watch and music we listen to in Canada is produced in US. American's culture is dominating the world and assimilate other cultures.
- Countries become too interdependent with each other .When one country's economic system crashes, it will cause a huge impact to world. It will be like the Great Depression all over again, but this time it will happen to the world not just America.
- When the governments of the developing countries trying attack transnational corporation, it causes a lot human rights problems like child labor.