Different countries and the people from different places have more connection and communication with each other than before. All these have resulted in open access to new markets and new technology for the country. This has also facilitated communication between different cultures, thus facilitating communications among nations. They also want to invade the economies of developing countries by adopting the path of globalisation. It is necessary to evaluate the pros and cons before drawing any conclusions. Additionally, there is increased trade and outsourcing among nations which basically results in these nations working like partners because they are working together in order to better their situation. Companies face much greater competition.
There is an increased gap between rich and poor that lead to some criminal activities. Other people are not so sure that there are only advantages. It is only in respect of services export India has been able to record marginal gain due to its cheaper manpower resources. This makes it possible for a man in the United States to wear clothes made in India and Mexico, while watching a football match made in China by the British. Liberalisation of industrial location :- The Industrial Policy 1991 stated that, there is no need to obtain approval from central government for industrial location. Socially we have become more open and tolerant towards each other and people who live in the other part of the world are not considered aliens. Although some experts have promised that this poverty will decrease in late of twentieth century, the poverty situation has become worse.
Another example is a sma … ll pizzeria or a kiosk or say a moving around with an ice-cream van, these are types of small scale industries. However when it comes to importing Western foods to these cultures the impact on health has proven to be a big negative especially in the urban areas of developing countries including the Philippians and India. Spread of local consumer products e. Such a growth pattern has affected geographical distribution. The world has indeed become a smaller place with cross-wired connectivity in all spheres of life.
Interest in International Brands As stated earlier, the brand value of Indian merchandise will definitely increase. More and more schools in developing nations are teaching their students how to speak this global language. Prisoners and child workers are used to work in inhumane conditions. Ecological disadvantages of global warming. Development of Rural Areas It is a well-known fact, that a factory set up not only improves a particular area but also provides for the locals with employment, thus the quality of life of people would automatically enhance.
As a result of this, globalization of the Indian Industry occurred at large scale. This would result trickle down effect to reduce the proportion of population living below the poverty line viii Globalisation enhances the efficiency of the banking insurance and financial sectors with the opening up to those areas to foreign capital, foreign banks and insurance companies. The Top 4 Globalization Advantages 1. Disadvantages of Globalization So what's the harm if the entire world is coming together on a common platform? This helps Chinese companies gain knowledge about the production process, and now Chinese companies such as Southern China locomotive and rolling stock are making their own high-speed trains. They will be allowed to invest in sectors where we need them……. The author is a Forbes contributor. This could limit the cultural expressions.
People, companies and organizations in different countries can live and work together. Today, as a matter of fact, any country or nation is facing the challenge of the world economic globalization. Usually, such projects consume the natural resources such as water, land etc. Particularly movement of material and goods between and within nation … al boundaries. However, it may be said that globalization is inevitable in the twenty first century despite these disadvantages considering the advances in information technology which has led to more integration between nations. She is presently running her own educational consultancy, catering the needs of students belonging to both engineering and management discipline.
Previously, the pace of process was slow. If these practices replace domestic economic life with an economy that is heavily influenced or controlled from overseas, then the creation of a globalised economic model and the process of globalisation can also be seen as a surrender of power to the corporations, or a means of keeping poorer nations in their place. In many cases this is not working because countries manipulate their currency to get a price advantage. By globalisation, harmful culture products, erroneous concepts and a selfish and individualistic lifestyle can easily be imported into the country. Advances in transportation and telecommunications infrastructure, including the rise of the telegraph and its posterity the Internet, are major factors in globalization, generating further interdependence of. To fulfill this requirement, not only the areas were chosen would be improved but also the neighboring locations will be highly benefited.
A difficult call, failure to address it leads to bad marketing skills. All these have resulted open access to new markets and new technology for the country. As a result, these small industries cannot compete with big companies or operate them. In this connection, former Prime Minister I. The employers are not concerned about the hazards involved. The upcoming Trans Pacific Trade Agreement will do the same thing and Congress should not fast track this bad agreement for a dozen reasons. Critics of globalization are also of the opinion that it will hamper the age-old cultures which have been followed religiously all over the world.
Its major characteristic features are capitalism expansions, global division of labor, immigration of financial human and production resources within a society, and technological processes, as well as removing the borders between cultures of various countries. Characteristics of a Small Scale Business A few examples of small-scale businesses include a flea market or shopping mall booth, a consultancy business, or even a computer repair shop that moves into retail space. There are several advantages of globalization. Causes and effects of Globalization According to Alexander, C. The bad side of globalization predominantly revolves around the fact that the preferences differ from nation to nation, and coming to a consensus on any issue becomes more difficult when too many nods are required.