Benifits Of Globalization

Globalization means the way things are flowing more and more easily around the world, things like goods, information, companies, jobs. The term globalization is used a great deal. It is not just about money, its mostly used about trade and the activities of big international companies. Today what's different is the speed of globalization and how many people it effects. For example, back in 1953, when Edmund Hillary conquered Mt. Everest, it took 5 days for the news to reach London, whereas today, we can have the final score for a sports event, on the other side of the world, within seconds.

Globalization brings many benefits. But it can also lead to people being exploited or losing their jobs. Clothing is an example. Most of the clothes we buy are made in usually poorer countries. Their manufacture is usually arranged by big companies   from richer countries, who want to make as much profit as possible.

The TNCs, for example, are really the ones who drive globalization. They go where workers are cheap or where markets are large and they gain higher profits.   Many economists,as well, think that globalization is good because when TNCs open factories and branches in
LEDCs, it helps those countries to develop. Furthermore, the governments in both MEDCs and LEDCs, have a positive view on globalization because they would like to see their companies doing business overseas since it spreads their country's influence. Also, people have the opportunity to get jobs when foreign TNCs set up here. Especially in LEDCs, TNCs like oil companies help the governments exploit their resources and the wages help them climb out of poverty.

However, environmentalists have concerns because many LEDCs don't have strong laws to protect the environment so TNCs go there and ruin the place by polluting the air and water with toxic chemicals. Workers in MEDCs have lost their jobs because factories are moving to countries where wages are lower and Workers in LEDCs have criticisms...