I have homework and I need to list 2 ways that globalization might be negative.
Four answers:
nate
2016-09-15 17:57:02 UTC
1.) Individuals may lose their source of income: Let's say you work in a factory in Chicago where they make jeans and new trade laws make it easier for companies produce jeans in countries (such as Malaysia or Vietnam) where the cost of labor is lower than it is in the US. It's likely that the company will take advantage of these new laws, and hire workers in those markets to do your job. There is, of course, a potential benefit to someone in the country where the job ends up.
2.) Free trade makes it easy to send money abroad, which can hurt local economies: If it's cheaper to import something, then you're unlikely to buy it locally. So, if computer components are produced cheaply in China, it will be difficult for a company to build a business making those same components in Pennsylvania. If most things are cheaper abroad, it can make it difficult for the local economy to grow, since new businesses will have to compete with low-cost competitors in the international marketplace. (When businesses first start out, they're likely to be inefficient, which means that their costs will be high.)
Hope this helps!
Kenny
2016-09-15 17:51:54 UTC
Manufacture moved to countries with less stringent environmental regulations .
Work done by employees with little safety regulations in place to protect them .
Manufacture moved to arias that severely undercut prices closing plants and putting people out of work .