Post by Admin on Dec 7, 2015 19:56:35 GMT
It has been said that the world is becoming a global village in which there are no boundaries to trade and communication. Do the benefits of globalisation outweigh the drawbacks?
[304]
K3 essay.
www.ieltsexchange.com
Some people say that there are no limits to globalisation in terms of trade and communication, but that the advantages outweigh the disadvantages. While I support this view, I think it is important to acknowledge that there is a downside to globalisation.
One downside is in terms of businesses. Big international firms can move to countries where labour and land for factories is cheap, and may exploit workers. For example, Benetton, a fashion company, was recently criticized for running sweatshops in Asia while selling expensive branded products in wealthy areas. When such a company withdraws to move to somewhere even cheaper, it can result in job losses and because no other industry has been developed, the economy can fail. For example, Coca Cola shit its bottling plant in Singapore and moved to Malaysia. Over 200 unskilled workers lost their job and with little other manufacturing work available, became unemployed.
On the other hand, business is becoming increasingly international. Even small traders and hobby e-commerce enthusiasts can buy and sell across the globe on sites like E-bay and Amazon. Such competition leads to increasing quality, choice, safety standards and better prices, which all benefit consumers. Ultimately good companies will continue to expand and employ more people. As business and communications spread around the world, poorer countries can take advantage of new technologies, taxes from investment in land, people and factories, and ultimately, it can raise the income of the world’s poorest countries. According to the UN, global trade has triggered strong growth in developing countries from 29% in 1995 to 37% in 2005 and 42% by 2015.
In short, while there will always be some drawbacks to change as broad and far reaching as globalisation, I believe that there are more positive aspects than negatives ones, particularly for the poorest countries in the world’s marketplace.
K3 essay.
www.ieltsexchange.com
