Arguments for and against globalisation: In favour of globalisation:
(i) Increase in employment opportunities: As globalization increases, more and more companies are setting up businesses in other countries. This, in turn, increases the employment opportunities that people at one place have. People can get better jobs without having to move to other countries in search of better jobs.
(ii) Education: With the increase in globalization, it has become easier for people to move across borders to different parts of the world to acquire better education. This has resulted in an integration of cultures. People from underdeveloped and developing countries often move to developed countries to get better education.
(iii) Increase in free trade: An increase in free trade has opened doors for investors in developed countries to invest their money in developing countries. Big companies from developed countries have the freedom to operate in developing countries.
(iv) Faster flow of Information: Information flows from one part of the world to the other immediately, resulting in the world being tied together. Vital information can be shared between individuals and corporations at a very fast rate. It has also facilitated in increasing the ease of transporting people and goods.
Argument against globalisation:
(i) Environmental degradation: Developed countries can take advantage of underdeveloped countries’ weak regulatory laws in terms of environmental protection.
(ii) Unfair working conditions: Many multinationals have been accused of social injustice by exploiting labour in underdeveloped countries in order to cut costs. Labourers are provided unhealthy working conditions leading to health hazards. Many large companies have also been accused of employing child labour in their factories in underdeveloped countries.
(iii) Growing disparity among the rich and the poor: 86% of the world’ resources are said to be consumed by the richest 20% of the world population. This means that the poorer 80% population only gets to consume 14% of the world’ resources. This is a direct result of globalization according to some activists who believe that globalization only serves the rich whereas the poor have to face its disadvantages.
(iv) Rapid spread of deadly **: Deadly ** such as AIDS or other communicable **** can spread at very fast pace via travelers or due to other means as a direct consequence of globalization. (Any three from Each)
