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This article says that in many developing nations, where the work force is largely made up of unskilled workers, globalization could lead to unemployment. This is due to technological innovations in more developed nations, which means that the cost of production is lower and the goods can be sold at a cheaper cost. The author specifically points out that in the manufacturing and agriculture sectors, many jobs are at risk because of automation and its superior efficiency when compared to human labor. These unskilled workers, if not given the proper equipment to become employed again, will cause problems for the country and their now increased lower class.

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The Effects of Economic Globalization on Developing Countries

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Financial and industrial globalization is increasing substantially and is creating new opportunities for both industrialized and developing countries. The largest impact has been on developing countries, who now are able to attract foreign investors and foreign capital. This has led to both positive and negative ...

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This article points out that globalization has lead to many cultures being diluted and misrepresented by many Western individuals. Another large criticism is the Western nations push their culture onto other nations, which can include pushing a certain American or English brand, expecting them to adapt and conform. This can lead to smaller domestic companies being shut out of the market because of a lack of demand. It discusses the various means of Westerners trying to change the culture of other nations, particularly in the realm of cuisine, by discussing how American fast-food, which is cheap to produce, has taken over the market of traditional cuisine. It also shows how the media has impacted language, as most of the information presented is in English, which forces others to adapt.

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Globalization is not easily defined. For some, it is a positive process leading to shared social values worldwide. For others, the term has a negative meaning, and critics see it as marginalizing less dominant cultures, particularly those in the developing world. Some critics refer to it as the "McDonaldization" of culture, due to global advertising campaigns that undermine cultural diversity.

Consumerism

Large multinational companies promote their products globally, and there are few countries where the logos for Coca-Cola and Nike haven't appeared. The negative effect of global marketing is that local companies are edged out of the market and the multinational companies impose American or European consumer trends on other cultures. Similarly, the fast food industry promotes values of production efficiency. As a result, traditional cuisine appears less cost-effective and profitable than fast food, causing traditional food outlets to lose business.

Western Ideals

Another criticism is that Western nations, particularly the United States, impose cultural values on others through media and popular culture. Critics of globalization call this "cultural imperialism," because the West promotes its culture as having more worth, or being more correct, than other regions' cultural values. The domination of news media and Internet services by Western companies, helps maintain this influence over local views, according to critics.

Language

Language is a key expression of cultural diversity. Critics of globalization claim it marginalizes some languages and may even cause some languages to die out. Others say this is a myth. Because the world´s dominant economies speak English, it is often seen as the main culprit in making other languages less important. Certainly, English is widely used as a second or third language, and this helps the globalization of business trade; however, if business communities see more benefits in speaking Spanish or Chinese, they learn those instead.

Poverty

Some United Nations members, including the Vatican City, claim that globalization increases poverty amongst young people, the old, women, indigenous peoples and migrants, which has a cultural impact. A representative from Cuba said one result of globalization was that 20 percent of the world population consumed 80 percent of global production, leaving 80 percent of the population in increased poverty. One way to reduce poverty in these groups is for wealthy nations to accept more imports from developing countries.

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Negative Effects of Globalization on Culture | Synonym

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Globalization is not easily defined. For some, it is a positive process leading to shared social values worldwide. For others, the term has a negative meaning, and critics see it as marginalizing less dominant cultures, particularly those in the developing world.

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This article states that in order to produce cheaper, more appealing products for consumers, producers often  compromise their workers' safety and put their health at risk. Companies can mistreat their workers in a number of ways, such as paying their workers  ludicrously low wages, setting harsh working conditions, and providing them with substandard living conditions. The article goes on to say that prisoners and children are now being used to produce goods because they are not treated well, given a livable wage, and their standards for safety are minimal to none. This has also lead to an increase in human trafficking.

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Globalization is an economic tidal wave that is sweeping over the world. But before drawing any conclusions on how it affects the U.S. economy, consider some of the general pros and cons of globalization.

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Globalization Can Be Exploited By Companies Seeking Personal Gain

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Globalization Can Be Exploited By Companies Seeking Personal Gain

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This article states that globalization can allow companies to operate in countries that they are not based in. This creates a tricky situation involving taxes, which has given businesses the opportunity to abuse loopholes in the system for their own benefit. It gives the examples of Hong Kong and Ireland, places where companies can essentially hide their money, free from taxes. This harms the country that is importing a certain product as well as its citizens because they will have to pay higher taxes to make up for lost revenue. The country importing the product will sometimes suffer billions of dollars because companies exploit the domestic tax laws.

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While many have heard the term globalization during news reports or televised debates, it can be challenging to suss out all of the attendant pros and cons. As the Internet continues to shrink the world we live in, globalization becomes more and more important. For those who are unaware, globalization is the process of shifting the world we live in from a place of isolation to a place of integration. It signals a greater economic and political cooperation worldwide and an increased sharing of ideas. Thanks to technological advances, globalization has become a greater reality.

List of Pros of Globalization

1. Free Trade
Once upon a time, nations were not able to trade freely with one another, due to all of the barriers that stood in their way. Companies in varied nations across the world are now able to trade with another, thanks to reduction of restrictions on importing and exporting.

2. The Consumer and Economy Benefit
Consumers are able to lower their costs and enjoy a much wider selection of products to choose from. Now that foreign companies can reach those who do not reside in their country, they are able to tap into markets that they were unable to reach before.

3. Competition Between Countries Drives Prices Down
The companies have greater access to more countries, which allows them to sell their goods and services to wholesale retailers all around the world.

4. Gives Other Nations Opportunity
A nation the opportunity to hone in on their strengths, while ignoring their weaknesses. A country that is rich in oil, but possesses a scarcity of suitable farm land is free to focus on exporting their plentiful oil supply. Because they do not have to worry about importation restrictions, they can easily purchase wholesale amounts of fresh foods from other countries.

5. Labor Can Move More Freely
Workers can move from country to country with relative ease and market their skills, goods and services to the highest worldwide bidder. Countries no longer have to suffer with gaps in their labor structures. A nation that is struggling to produce doctors can simply import them from another country. Shortages of labor are no longer an issue on a local level. Thanks to the increased ease of communication and the reliability of the Internet, a person can be trained to work at a job in a foreign country without actually being present.

List of Cons of Globalization

1. Smaller Countries Suffer the Most
While there are a variety of benefits, countries have struggled with certain globalization concepts. Certain nations benefit greatly from the current landscape, as others suffer. Smaller, less developed countries do not typically benefit from the level playing field that globalization provides.

2. Leaving Developing Countries Behind
Economists have argued that developing countries are at increased risk of being left behind. Globalization encourages free trade, which does not provide a developing nation with the protection that they need in order to grow.

3. Strain Among Job Markets
The free movement of labor also has its downsides. When workers can move freely from one nation to the next, countries that have a dearth of job opportunities often struggle. Skilled employees do not often stay in countries without a strong job market, which can cause a labor drain.

4. Inability to Recoup Investment
For countries that rely on public funding for their secondary educational system, this can be disastrous. Residents of the country utilize publicly funded colleges to bolster their skills for the job market, then take their talents to other countries. This leaves their home country with very little recourse to recoup their considerable investment.

5. Companies Seeking Personal Gain
Larger companies have learned how to leverage globalization for their own personal gain. Companies now have the ability to trade with countries that they are not based in. This allows them to exploit certain tax loopholes and hide money in places like Ireland and Hong Kong. When this happens, the countries that they are based in lose out on billions of tax dollars. The consumer is then squeezed by increased taxes on their goods, services and property. A nation typically has zero control over larger corporations registering in other countries to avoid taxation.

6. Negative Impact on Environment
The environment impact of globalization is considered to be negative by most experienced observers. The increased consumption of a wide variety of products leads to increased production which causes an uptick in pollution. Simply put, the environment is under added strain, which can have devastating long term effects on the planet's environmental stability.

7. Loss of Cultural Identity
Greater cultural hegemony is benefit, but countries are beginning to lose their identities due to immigration that is taking place on a progressively larger scale. As globalization becomes the new way of the world, more and more countries are at risk of losing their cultural identity.

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While many have heard the term globalization during news reports or televised debates, it can be challenging to suss out all of the attendant pros and cons. As the Internet continues to shrink the world we live in, globalization becomes more and more important.

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Globalization Is Bad For The Environment

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Globalization Is Bad For The Environment

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This article states that there are many horrific effects of globalization on the health of our planet. It states that companies are using resources, such as coal and fossil fuels, much too quickly. The article cites when China joined the World Trade Organization in 2001, which was subsequently followed by an extreme increase in coal usage. India had a similar situation in 2002, but on a smaller scale. If we continue burning coal and not cutting back on fossil fuel consumption, carbon dioxide will be emitted into the atmosphere at an alarming rate. These effects are irreversible and can have devastating impacts on the planet.

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Globalization seems to be looked on as an unmitigated "good" by economists. Unfortunately, economists seem to be guided by their badly flawed models; they miss real-world problems. In particular, they miss the point that the world is finite. We don't have infinite resources, or unlimited ability to handle excess pollution. So we are setting up a "solution" that is at best temporary.

Economists also tend to look at results too narrowly-from the point of view of a business that can expand, or a worker who has plenty of money, even though these users are not typical. In real life, businesses are facing increased competition, and the worker may be laid off because of greater competition.

The following is a list of reasons why globalization is not living up to what was promised, and is, in fact, a very major problem.

1. Globalization uses up finite resources more quickly. As an example, China joined the world trade organization in December 2001. In 2002, its coal use began rising rapidly (Figure 1, below).

In fact, there is also a huge increase in world coal consumption (Figure 2, below). India's consumption is increasing as well, but from a smaller base.

2. Globalization increases world carbon dioxide emissions. If the world burns its coal more quickly, and does not cut back on other fossil fuel use, carbon dioxide emissions increase. Figure 3 shows how carbon dioxide emissions have increased, relative to what might have been expected, based on the trend line for the years prior to when the Kyoto protocol was adopted in 1997.

3. Globalization makes it virtually impossible for regulators in one country to foresee the worldwide implications of their actions. Actions which would seem to reduce emissions for an individual country may indirectly encourage world trade, ramp up manufacturing in coal-producing areas, and increase emissions over all. See my post Climate Change: Why Standard Fixes Don't Work.

4. Globalization acts to increase world oil prices.

The world has undergone two sets of oil price spikes. The first one, in the 1973 to 1983 period, occurred after US oil supply began to decline in 1970 (Figure 4, above and Figure 5 below).

After 1983, it was possible to bring oil prices back to the $30 to $40 barrel range (in 2012$), compared to the $20 barrel price (in 2012$) available prior to 1970. This was partly done partly by ramping up oil production in the North Sea, Alaska and Mexico (sources which were already known), and partly by reducing consumption. The reduction in consumption was accomplished by cutting back oil use for electricity, and by encouraging the use of more fuel-efficient cars.

Now, since 2005, we have high oil prices back, but we have a much worse problem. The reason the problem is worse now is partly because oil supply is not growing very much, due to limits we are reaching, and partly because demand is exploding due to globalization.

If we look at world oil supply, it is virtually flat. The United States and Canada together provide the slight increase in world oil supply that has occurred since 2005. Otherwise, supply has been flat since 2005 (Figure 6, below). What looks like a huge increase in US oil production in 2012 in Figure 5 looks much less impressive, when viewed in the context of world oil production in Figure 6.

Part of our problem now is that with globalization, world oil demand is rising very rapidly. Chinese buyers purchased more cars in 2012 than did European buyers. Rapidly rising world demand, together with oil supply which is barely rising, pushes world prices upward. This time, there also is no possibility of a dip in world oil demand of the type that occurred in the early 1980s. Even if the West drops its oil consumption greatly, the East has sufficient pent-up demand that it will make use of any oil that is made available to the market.

Adding to our problem is the fact that we have already extracted most of the inexpensive to extract oil because the "easy" (and cheap) to extract oil was extracted first. Because of this, oil prices cannot decrease very much, without world supply dropping off. Instead, because of diminishing returns, needed price keeps ratcheting upward. The new "tight" oil that is acting to increase US supply is an example of expensive to produce oil-it can't bring needed price relief.

5. Globalization transfers consumption of limited oil supply from developed countries to developing countries. If world oil supply isn't growing by very much, and demand is growing rapidly in developing countries, oil to meet this rising demand must come from somewhere. The way this transfer takes place is through the mechanism of high oil prices. High oil prices are particularly a problem for major oil importing countries, such as the United States, many European countries, and Japan. Because oil is used in growing food and for commuting, a rise in oil price tends to lead to a cutback in discretionary spending, recession, and lower oil use in these countries. See my academic article, "Oil Supply Limits and the Continuing Financial Crisis," available here or here.

Developing countries are better able to use higher-priced oil than developed countries. In some cases (particularly in oil-producing countries) subsidies play a role. In addition, the shift of manufacturing to less developed countries increases the number of workers who can afford a motorcycle or car. Job loss plays a role in the loss of oil consumption from developed countries-see my post, Why is US Oil Consumption Lower? Better Gasoline Mileage? The real issue isn't better mileage; one major issue is loss of jobs.

6. Globalization transfers jobs from developed countries to less developed countries. Globalization levels the playing field, in a way that makes it hard for developed countries to compete. A country with a lower cost structure (lower wages and benefits for workers, more inexpensive coal in its energy mix, and more lenient rules on pollution) is able to out-compete a typical OECD country. In the United States, the percentage of US citizen with jobs started dropping about the time China joined the World Trade Organization in 2001.

Figure 8. US Number Employed / Population, where US Number Employed is Total Non_Farm Workers from Current Employment Statistics of the Bureau of Labor Statistics and Population is US Resident Population from the US Census. 2012 is partial year estimate.

7. Globalization transfers investment spending from developed countries to less developed countries. If an investor has a chance to choose between a country with a competitive advantage and a country with a competitive disadvantage, which will the investor choose? A shift in investment shouldn't be too surprising.

In the US, domestic investment was fairly steady as a percentage of National Income until the mid-1980s (Figure 9). In recent years, it has dropped off and is now close to consumption of assets (similar to depreciation, but includes other removal from service). The assets in question include all types of capital assets, including government-owned assets (schools, roads), business owned assets (factories, stores), and individual homes. A similar pattern applies to business investment viewed separately.

Part of the shift in the balance between investment and consumption of assets is rising consumption of assets. This would include early retirement of factories, among other things.

Even very low interest rates in recent years have not brought US investment back to earlier levels.

Related article: Why have GDP Growth and Energy Growth Separated?
8. With the dollar as the world's reserve currency, globalization leads to huge US balance of trade deficits and other imbalances.
With increased globalization and the rising price of oil since 2002, the US trade deficit has soared (Figure 10). Adding together amounts from Figure 10, the cumulative US deficit for the period 1980 through 2011 is $8.6 trillion. By the end of 2012, the cumulative deficit since 1980 is probably a little over 9 trillion.

A major reason for the large US trade deficit is the fact that the US dollar is the world's " reserve currency." While the mechanism is too complicated to explain here, the result is that the US can run deficits year after year, and the rest of the world will take their surpluses, and use it to buy US debt. With this arrangement, the rest of the world funds the United States' continued overspending. It is fairly clear the system was not put together with the thought that it would work in a fully globalized world-it simply leads to too great an advantage for the United States relative to other countries. Erik Townsend recently wrote an article called Why Peak Oil Threatens the International Monetary System, in which he talks about the possibility of high oil prices bringing an end to the current arrangement.

At this point, high oil prices together with globalization have led to huge US deficit spending since 2008. This has occurred partly because a smaller portion of the population is working (and thus paying taxes), and partly because US spending for unemployment benefits and stimulus has risen. The result is a mismatch between government income and spending (Figure 11, below).

Thanks to the mismatch described in the last paragraph, the federal deficit in recent years has been far greater than the balance of payment deficit. As a result, some other source of funding for the additional US debt has been needed, in addition to what is provided by the reserve currency arrangement. The Federal Reserve has been using Quantitative Easing to buy up federal debt since late 2008. This has provided a buyer for additional debt and also keeps US interest rates low (hoping to attract some investment back to the US, and keeping US debt payments affordable). The current situation is unsustainable, however. Continued overspending and printing money to pay debt is not a long-term solution to huge imbalances among countries and lack of cheap oil-situations that do not "go away" by themselves.

9. Globalization tends to move taxation away from corporations, and onto individual citizens. Corporations have the ability to move to locations where the tax rate is lowest. Individual citizens have much less ability to make such a change. Also, with today's lack of jobs, each community competes with other communities with respect to how many tax breaks it can give to prospective employers. When we look at the breakdown of US tax receipts (federal, state, and local combined) this is what we find:

The only portion that is entirely from corporations is corporate income taxes, shown in red. This has clearly shrunk by more than half. Part of the green layer (excise, sales, and property tax) is also from corporations, since truckers also pay excise tax on fuel they purchase, and businesses usually pay property taxes. It is clear, though, that the portion of revenue coming from personal income taxes and Social Security and Medicare funding (blue) has been rising.

I showed that high oil prices seem to lead to depressed US wages in my post, The Connection of Depressed Wages to High Oil Prices and Limits to Growth. If wages are low at the same time that wage-earners are being asked to shoulder an increasing share of rising government costs, this creates a mismatch that wage-earners are not really able to handle.
10. Globalization sets up a currency "race to the bottom," with each country trying to get an export advantage by dropping the value of its currency.
Because of the competitive nature of the world economy, each country needs to sell its goods and services at as low a price as possible. This can be done in various ways-pay its workers lower wages; allow more pollution; use cheaper more polluting fuels; or debase the currency by Quantitative Easing (also known as "printing money,") in the hope that this will produce inflation and lower the value of the currency relative to other currencies.

There is no way this race to the bottom can end well. Prices of imports become very high in a debased currency-this becomes a problem. In addition, the supply of money is increasingly out of balance with real goods and services. This produces asset bubbles, such as artificially high stock market prices, and artificially high bond prices (because the interest rates on bonds are so low). These assets bubbles lead to investment crashes. Also, if the printing ever stops (and perhaps even if it doesn't), interest rates will rise, greatly raising cost to governments, corporations, and individual citizens.

11. Globalization encourages dependence on other countries for essential goods and services. With globalization, goods can often be obtained cheaply from elsewhere. A country may come to believe that there is no point in producing its own food or clothing. It becomes easy to depend on imports and specialize in something like financial services or high-priced medical care-services that are not as oil-dependent.

As long as the system stays together, this arrangement works, more or less. However, if the built-in instabilities in the system become too great, and the system stops working, there is suddenly a very large problem. Even if the dependence is not on food, but is instead on computers and replacement parts for machinery, there can still be a big problem if imports are interrupted.
12. Globalization ties countries together, so that if one country collapses, the collapse is likely to ripple through the system, pulling many other countries with it.
History includes many examples of civilizations that started from a small base, gradually grew to over-utilize their resource base, and then collapsed. We are now dealing with a world situation which is not too different. The big difference this time is that a large number of countries is involved, and these countries are increasingly interdependent. In my post 2013: Beginning of Long-Term Recession, I showed that there are significant parallels between financial dislocations now happening in the United States and the types of changes which happened in other societies, prior to collapse. My analysis was based on the model of collapse developed in the book Secular Cycles by Peter Turchin and Sergey Nefedov.

It is not just the United States that is in perilous financial condition. Many European countries and Japan are in similarly poor condition. The failure of one country has the potential to pull many others down, and with it much of the system. The only countries that remain safe are the ones that have not grown to depend on globalization-which is probably not many today-perhaps landlocked countries of Africa.

In the past, when one area collapsed, there was less interdependence. When one area collapsed, it was possible to let cropland "rest" and deforested areas regrow. With regeneration, and perhaps new technology, it was possible for a new civilization to grow in the same area later. If we are dealing with a world-wide collapse, it will be much more difficult to follow this model.

By. Gail Tverberg

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12 Negative Aspects of Globalization | OilPrice.com

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Globalization seems to be looked on as an unmitigated "good" by economists. Unfortunately, economists seem to be guided by their badly flawed models; they miss real-world problems. In particular, they miss the point that the world is finite. We don't have infinite resources, or unlimited ability to handle excess pollution.

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This article states that globalization allows a plethora of new opportunities for entrepreneurs who would not have previously had a chance. Particularly in less developed nations, firms can go to the global market. Access to these larger places allows an increase in external revenue and competition from foreign competitors. This can also increase the flow of capital from one place to another, which means that there will be cheaper imports and a larger market for companies to export to. Finally, this can give smaller companies a passageway to become parts of international trade groups and production chains. Overall, this increases the revenue of the company and the overall GDP of the country.

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Globalization Helps Poor Countries and Drives Prices Down

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Globalization Helps Poor Countries and Drives Prices Down

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This article says that because of globalization, countries lower on the economic spectrum can be given access to more capital and advanced technology. By doing this, people in these underdeveloped markets are given the opportunity to expand their idea into the global marketplace, where they can generate revenue and expand their businesses. This can also drive competition into markets that were previously dominated by monopolies. This forces larger firms to lower their prices in order to maintain a steady stream of profit and keep up with the smaller companies, ultimately benefiting the consumer and giving them a more diver selection of products to choose from.

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A story in the Washington Post said "20 years ago globalization was pitched as a strategy that would raise all boats in poor and rich countries alike. In the U.S. and Europe consumers would have their pick of inexpensive items made by people thousands of miles away whose pay was much lower than theirs. And in time trade barriers would drop to support even more multinationals expansion and economic gains while geo political cooperation would flourish."

There is no question that globalization has been a good thing for many developing countries who now have access to our markets and can export cheap goods. Globalization has also been good for Multi-national corporations and Wall Street. But globalization has not been good for working people (blue or white collar) and has led to the continuing deindustrialization of America.

Globalization is a complicated issue. It is necessary to evaluate the pros and cons before drawing any conclusions.

Pros

Supporters of globalization argue that it has the potential to make this world a better place to live in and solve some of the deep-seated problems like unemployment and poverty.

1. Free trade is supposed to reduce barriers such as tariffs, value added taxes, subsidies, and other barriers between nations. This is not true. There are still many barriers to free trade. The Washington Post story says "the problem is that the big G20 countries added more than 1,200 restrictive export and import measures since 2008

2. The proponents say globalization represents free trade which promotes global economic growth; creates jobs, makes companies more competitive, and lowers prices for consumers.

3. Competition between countries is supposed to drive prices down. In many cases this is not working because countries manipulate their currency to get a price advantage.

4. It also provides poor countries, through infusions of foreign capital and technology, with the chance to develop economically and by spreading prosperity, creates the conditions in which democracy and respect for human rights may flourish. This is an ethereal goal which hasn't been achieved in most countries

5. According to supporters globalization and democracy should go hand in hand. It should be pure business with no colonialist designs.

6. There is now a worldwide market for companies and consumers who have access to products of different countries. True

7. Gradually there is a world power that is being created instead of compartmentalized power sectors. Politics is merging and decisions that are being taken are actually beneficial for people all over the world. This is simply a romanticized view of what is actually happening. True

8. There is more influx of information between two countries, which do not have anything in common between them. True

9. There is cultural intermingling and each country is learning more about other cultures. True

10. Since we share financial interests, corporations and governments are trying to sort out ecological problems for each other. - True, they are talking more than trying.

11. 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. True in many cases.

12. Most people see speedy travel, mass communications and quick dissemination of information through the Internet as benefits of globalization. True

13. Labor can move from country to country to market their skills. True, but this can cause problems with the existing labor and downward pressure on wages.

14. Sharing technology with developing nations will help them progress. True for small countries but stealing our technologies and IP have become a big problem with our larger competitors like China.

15. Transnational companies investing in installing plants in other countries provide employment for the people in those countries often getting them out of poverty. True

16. Globalization has given countries the ability to agree to free trade agreements like NAFTA, South Korea Korus, and The TPP. True but these agreements have cost the U.S. many jobs and always increase our trade deficit

Cons

* The general complaint about globalization is that it has made the rich richer while making the non-rich poorer. "It is wonderful for managers, owners and investors, but hell on workers and nature."

* Globalization is supposed to be about free trade where all barriers are eliminated but there are still many barriers. For instance161 countries have value added taxes (VATs) on imports which are as high as 21.6% in Europe. The U.S. does not have VAT.

* The biggest problem for developed countries is that jobs are lost and transferred to lower cost countries." According to conservative estimates by Robert Scott of the Economic Policy Institute, granting China most favored nation status drained away 3.2 million jobs, including 2.4 million manufacturing jobs. He pegs the net losses due to our trade deficit with Japan ($78.3 billion in 2013) at 896,000 jobs, as well as an additional 682,900 jobs from the Mexico -U.S. trade-deficit run-up from 1994 through 2010."

* Workers in developed countries like the US face pay-cut demands from employers who threaten to export jobs. This has created a culture of fear for many middle class workers who have little leverage in this global game

* Large multi-national corporations have the ability to exploit tax havens in other countries to avoid paying taxes.

* Multinational corporations are accused of social injustice, unfair working conditions (including slave labor wages, living and working conditions), as well as lack of concern for environment, mismanagement of natural resources, and ecological damage.

* Multinational corporations, which were previously restricted to commercial activities, are increasingly influencing political decisions. Many think there is a threat of corporations ruling the world because they are gaining power, due to globalization.

* Building products overseas in countries like China puts our technologies at risk of being copied or stolen, which is in fact happening rapidly

* The anti-globalists also claim that globalization is not working for the majority of the world. "During the most recent period of rapid growth in global trade and investment, 1960 to 1998, inequality worsened both internationally and within countries. The UN Development Program reports that the richest 20 percent of the world's population consume 86 percent of the world's resources while the poorest 80 percent consume just 14 percent. "

* Some experts think that globalization is also leading to the incursion of communicable diseases. Deadly diseases like HIV/AIDS are being spread by travelers to the remotest corners of the globe.

* Globalization has led to exploitation of labor. Prisoners and child workers are used to work in inhumane conditions. Safety standards are ignored to produce cheap goods. There is also an increase in human trafficking.

* Social welfare schemes or "safety nets" are under great pressure in developed countries because of deficits, job losses, and other economic ramifications of globalization.

Globalization is an economic tsunami that is sweeping the planet. We can't stop it but there are many things we can do to slow it down and make it more equitable.

What is missing?

Leadership - We need politicians who are willing to confront the cheaters. One of our biggest problems is that 7 of our trading partners manipulate their currencies to gain unfair price advantage which increases their exports and decreases their imports. This is illegal under WTO rules so there is a sound legal basis to put some kind of tax on their exports until they quit cheating.

Balanced Trade - Most of our trading partners can balance their trade budgets and even run a surplus. We have not made any effort to balance our trade budget and have run a deficit for more than 30 years resulting in an $11 trillion deficit. The trade deficit is the single biggest job killer in our economy, particularly manufacturing jobs. We need the government to develop a plan to begin to balance our trade deficit even though this is not a political priority in either party.

Trade Agreements - Both the NAFTA and the South Korean Korus trade agreements might have been good for Wall Street and the multi-national corporations but they eliminated jobs in America and expanded our trade deficit. The upcoming Trans Pacific Trade Agreement will do the same thing and Congress should not fast track this bad agreement for a dozen reasons.

Enforcing the rules - China ignores trade rules and WTO laws with reckless abandon. Besides currency manipulation they subsidize their state owned companies to target our markets, and provide funding to their state owned companies that dump their products in America. They also steal our technologies, sell counterfeit versions of our products, and impose tariffs and other barriers anytime they want - as we do nothing to stop them. China does not deserve to be on our most favored nation list and we need to tax their exports to us until they stop these illegal activities.

What is good for third world countries, like Kenya, or countries with tremendous growth, like China, has not been good for American workers. Globalization is deindustrializing America as we continue to outsource both manufacturing blue collar and white collar jobs. Supporters of globalization have made the case that it is good because it has brought low priced imported goods, but they have not matched the decline of wages in the middle class and will not offset the loss of many family wage jobs

Globalization is like being overwhelmed by a snow avalanche. You can't stop it - you can only swim in the snow and hope to stay on top. I would like to make the argument that the US should try a lot harder to swim in the snow and stay on top. We can't stop globalization but there are many policies and strategies we can use to make it more equitable. We can enforce the trade laws, force the competition to play by the same rules, and stop giving our competitors the tools (technology and R& D) to ultimately win the global war.

Mike Collins is the author of Saving American Manufacturing. His website is www.mpcmgt.com.

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A story in the Washington Post said "20 years ago globalization was pitched as a strategy that would raise all boats in poor and rich countries alike. In the U.S. and Europe consumers would have their pick of inexpensive items made by people thousands of miles away whose pay was [...]

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With increased interdependence, globalization allows countries a more efficient pathway for all goods, services, and factors of production. This means that businesses can expand much faster, untapped markets can now be opened to foreign businesses, and entrepreneurs can create innovative goods and services for the betterment of humanity. People now can also travel much faster than in previous times, which cuts down on the time that it takes to correspond with someone immensely, and with the creation of the internet, information and news can travel thousands of miles in a fraction of a second, allowing the most up to date details on everything that is happening globally.

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11 Major Pros and Cons of Globalization | NLCATP.org

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This video has done research as to who gains the most from globalization: developed nations or underdeveloped countries. They measured this by measuring economic growth in the year 2011 and comparing it to the growth rate of 1991, so that they could see the if there was a positive or negative change as the world became more connected and interdependent. The findings of this video were that out of the forty-two nations studied, each of them saw a positive impact due to globalization. Some countries saw an increase  of up GDP by one-thousand five-hundred euros in per capita GDP based on the data provided.

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Who Really Wins From Globalization?  (Pros and Cons of Globalization)

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Globalization Allows Equal Wealth Allocation

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Globalization Allows Equal Wealth Allocation

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This article points out that globalization has allowed more wealth to be distributed to people in more remote locations. Although Americans sometimes grip about having first world problems when they can't buy the newest piece of technology, globalization helps people in underdeveloped nations. When people are given the choice to buy from an international market, their purchase supports many people in other countries. These people can them go on to start their own company, hire more employees, and create products for a much larger market. This greatly increases the gross domestic product and standard of living for countries worldwide, as well as opening the door to innovative business practices and goods and services.

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It's a small world, after all. This saying has never been more true, and if trends continue to develop the way they are, the world may continue to shrink.

In light of advanced technology, higher demands from markets and faster turnaround times, globalization has become a staple for world commerce.

In the U.S., the term globalization often has negative connotations. For many, it represents a threat to their jobs, livelihood and way of life.

Though many Americans think of it as a dirty word, "globalization," actually has been a catalyst for positive change as well.

Related:
K-State promotes globalization by offering Swahili courses

Here are four ways that globalization has had a positive impact on the world economy:
1. More efficient markets
Efficient markets should be what every economy strives for. Essentially, the sign of an efficient market is where there is an equilibrium between what buyers are willing to pay for a good or service and what sellers are willing to sell for a good or service.

If you can improve the way you produce a good or service by doing things such as outsourcing certain processes or buying from an overseas supplier that offers discounts, you can then afford to lower your selling price which results in increased demand and affordability.

Even if businesses don't lower prices, they can make additional profits and then reallocate that excess profit into doing things like increasing wages, taking on more investments or even creating more expansion projects.

Related:
3 negative impacts of globalization on the United States
2. Increased competition
Anytime that you have multiple producers competing for a hold of the economy, that's a good sign for consumers, as the quality of goods and services often goes up as a result.

When businesses started to venture across international borders, what they often did was introduce a new standard into the global marketplace. Consumers then had more options to choose from.

With more competitors to fight over market share, each company has to constantly look to improve their goods or services or create more value for their customers.

This means better products and sometimes lower prices, which is always a good thing for buyers.

When your economy depends largely on another country's economy, it is hard to imagine either one of the countries attacking the other. In a weird sort of way, globalization helped heighten world security.

Although this may seem kind of twisted since there is so much violence that still goes on in the world, the fact remains that globalization has halted many conflicts that could have turned ugly if their country's financial health didn't depend on the other.

4. More wealth equality throughout the world

Although many Americans contend that their standard of living has gone down because of globalization, the flip side to this is that hundreds of thousands of people around the world now have jobs, have started their own businesses and can provide comfort for their families.

Living in the U.S., we take things like clean water, shelter and plentiful food for granted. Our standard of living is so high compared to many nations that when we can no longer buy frivolous luxuries, we claim that we are poor.

Globalization may have stopped you from buying another flat screen TV, but it also helped countless people in developing countries put food on their table for their families.

See? There is a silver lining to it all.

Andy Rao is a junior in finance and accounting. Please send comments to news@kstatecollegian.com.

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4 positive impacts of globalization on world economy

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It's a small world, after all. This saying has never been more true, and if trends continue to develop the way they are, the world may continue to shrink.In light of advanced technology, higher demands from markets and faster turnaround times, globalization has become a staple for world commerce.In