What are the negative effects of Globalization?

Question

What are the negative effects of Globalization?

Answer 1

It depends on the perspective of each situation. Basically, it is argumentative and limitless.

In the job market, if a worker is a high school graduate with no other special skills, he/she could lose his/her job to oversea workers. Of course, it depends on the sector, and its variables and conditions of the oversea labor force. If I am one of these people, I will get pissed. Negative side would be that the U.S. will lose a full strength GDP from this person and standard of living could decrease.

While I was in college, a dude with a fancy job title from World Trade Center lectured about outsourcing. He simply put the outsourcing as a necessary tool as we face globalization. Well, when I asked about the decrease in GDP and standard of living, he could only repeat what he initially said, " They just have to find new training and work to recover that wage". Hmmm, I do not know, but I see it as a problem to a certain level since in "labor economics", I learned that wage for a person regarding to his/her education is limited. Simply put it, it would be wise for a person to stop obtaining education since it will stop playing a role in determination of the individual's wage.

If countries trade too freely, especially in agriculture, it is likely that when economy is in downturn, some countries may face dangerously high inflation. It would be wise to keep certain key productions high to meet the demand, so that when there is a downturn, the country can rely solely on its own force to fight off inflation. Then again, globalization is more about sycronising every nation as one. That means, it is likely that some countries, especially ones that are small or growing rapidly, will have to trade more than they can to sustain their growth. I would say that it is unavoidable for some countries.

If capitals and credits can be transferred easily among countries, entire world can face disaster for just one country's economic disaster.

There are many negative effects, but in reality, can we avoid it? Also, Globalization seems to allow the world to grow efficiently despite countless challenges that we face each day.

Answer 2

Global terrorism.  Global wars.  Global epidemics of infectious diseases such as HIV.  And possibly a global economic recession might be on its way now.

Answer 3

The negatives pale in comparison to the positives of Globalization.

Think about this, a farmer in India grows a crop of wheat. In the past, the only place that farmer could sell his goods was the local town market where it could be swamped with everybody else selling wheat and the farmer gets pennies on the dollar.

Now in the era of globalization, that farmer could call his broker at the Chicago Board of Trade thousands of miles away and sell his Wheat on the "World Market" to a Buyer from Yemen. Have an international transport company pick it up and delivery it to hungry mouths in Yemen. A Win Win for two countries and few if any losers.

Globalization is good for everybody, just as trade between states in good for America. Except this time its trade between nations.

Answer 4

Pollution, Monopolies, Erasing cultural differences as everything seems the same, the rich get richer and the poor get poorer, greed increases.