Globalization

Globalization

1. Positive Effects

   • Globalization represents increased freedom
   • When international borders are open, people are free to:
     • Travel and immigrate to other countries
     • To trade with whomever they wish
     • To invest wherever they wish
     • To experience new cultures and new ideas
   • Opening up international trade provides consumers with a wider variety of goods and services
   • These lower costs usually generate lower prices leading to greater consumer demand for products of all types
   • When markets operate across borders, people on both sides can benefit from economic growth and increased wealth and more jobs overall
   • Globalization provides people with better access to medicine, information, education and new technology
   • Because of globalization, many people in the world now live longer and with a higher standard of living

2. Negative Effects

   • Globalization is partly to blame for creased industrialization
   • Open borders lead to more terrorism
   • More illegal drug sales and the spread of AIDS and other diseases
   • Others argue that globalization leads to less cultural diversity as Western ideas and values spread around the world
   • Industrialized countries, including the United States, receive more benefits from globalization than low-income countries
   • Globalization has not led to more stability in developing countries, as evidenced by financial crises in Asia and Latin America in the 1980s and 1990s