Globalization creates many problems to the world in term of economy, politics and the culture. The globalization has become more apparent with the advent of technological developments. Advances in technology bring more efficient production processes, better products, and faster, cheaper ways of doing business. The immediate effect may be success in business competition, but the total effect is not more profits, but more economic crises due to unfair competition and disorder.
Neo-liberalism has become the new type of imperialist globalization in order to open new markets for trade and investment. This is why and how many numbers of economic crises emerge. Monopoly companies apply free market economics in order to dominate the trade and investment, divide the nations and the countries through privatization of state products and services, and remove regulations that prevent monopoly integration and control and higher profits.
Globalization promises to bring modernity and prosperity but it only brings the opposite.
The world is in great danger today of financial collapse because of the greed of monopoly corporations who do not want their profits to reduce, and because neo-liberal globalization allows them to destroy economies of the developing countries the economic crisis and social turmoil is always encountered. Because of the adverse effects of the neoliberal globalization the balance of income distribution is worsened day by day.
In this essay I am focusing on the features and adverse effects of the neoliberal globalization and the challenges against it. In order to clarify the topic more understandably I also examine the brief explanations of liberalism, neoliberalism and the globalization itself.
The basic of neoliberal globalization and the economic process of crisis and globalization increases international unfair competition, income inequalities, the destructive loss of the environment, cultural erosion, unemployment by means of financial speculation, trade dumping, monopoly investment and...