UNIT 1 Intro To Globalization
UNIT 1 Intro To Globalization
INTRODUCTION
__________1.
COVERAGE
•Labor Exploitation
•Globalization enables firms to expand
employment and economic prospects in
underdeveloped countries, where labor
costs are frequently lower. However,
these countries' overall economic
growth may be modest or stagnant.
DEMERITS OF GLOBALIZATION
•Tax Exploitation
•Large multi-national corporations
have the ability to exploit tax havens
in other countries to avoid paying
taxes.
DEMERITS OF GLOBALIZATION
•Devastation of Environment/ Climate Change
•Industries are continuously using natural
resources to provide products and services,
with activities such as mining, drilling, and
others that only cause to degradation of the
environment.
DEMERITS OF GLOBALIZATION
• Cut-throat competition
• It also increases competition among nations, especially
established nations like China and USA. These two nations
have been dealing with their imports and exports from
other countries. This also opens to tight competition,
between foreign and domestic markets; domestic markets
are visibly smaller and much affected within these. It is a
huge loss for them to compete among big markets. While
the large and established economies are moving forward,
small economies are being left behind, due to lower foreign
investment and zero opportunities.
DEMERITS OF GLOBALIZATION
•Human gets replaced by robots
•The emergence of technology and
modernization of everything replaces even
human beings. Inventions make people lose
their job. They were replaced by machines
and robots to obtain higher productivity and
lessen human mistakes.