Globalization

Globalization

1. What is it?

   • interaction and integration among people, companies, & governments

2. Main Features

   • trade & investment
   • free access to markets worldwide
   • requirement of raw material, finance, technology
   • economic integration
   • growth in multinational corporations

3. ADVANTAGES

   • open economies between countries
   • local products compete with international enterprises
   • new employment
   • cultural exchange
   • technology and education advances
   • greater autonomy of municipalities and countries
   • urban sectors evolved
   • exterior commerce became easier

4. DISADVANTAGES

   • environmental issues
   • monopoly power
   • companies face much greater competition
   • unequal growth for countries
   • promotes trafficking of drugs and other illegal items
   • non-control circulation of money
   • small companies can't compete with multinationals
   • gap between rich and poor people increases
   • demand of local products decrease

5. expansion of imports and exports increases profits