Nowadays, there are lots of arguments claim that without globalisation US subprime mortgage crisis would not affect the global economy so seriously. People also start to doubt about the positive influence of globalisation due to the continuous rising inflation worldwide. The purpose of this essay is to critically evaluate the arguments for and against globalization and discuss if such claims are sustainable.
Globalization does not have a singe definition, generally it refers to the tendency of businesses, technologies, or philosophies to spread throughout the world, or the process of making this happen (Griffin; Ricky etc, 2007). The speed of globalization is quick and it will continue to have a growing impact on worldwide business activities.
The common views about the influences of globalization are mainly positive. Supporters of globalization argue that it has the potential to create greater opportunities for growth throughout the world and it allows poor countries to develop economically and raise people's standards of living (Porter, 2008).
Globalization
Globalization to the advantage - 2010-09-16
English:The G8 countries, the World Trade Organization (WTO), the World Bank, and the International Monetary Fund (IMF) are all proponents of globalization. They believe that Globalisation can help alleviate poverty in developing regions while increasing the wealth of developed ones and allocate resources more effectively in global range (Rodrik, 2002).
Globalisation can also bring benefits to companies; it allows firms from developed countries to transfer their production from developed countries to developing countries to benefit from the cheap resources, and the less burdensome labour laws and environmental protections.
Consumers can benefit from globalization, they can buy cheaper products and they have more choices especially that they can purchase other country's goods. With more MNCs enter into host countries, they will provide more jobs that will improve people's welfare.
However, there are arguments stating that the negative effects of globalization outweigh...