Mixed opinions exist among people in relation to how globalisation influences the economies of the world. Some argue that it is evident that globalisation has brought dramatic economic growths and more employment opportunities around the world, particularly in the developing countries. However, there are criticisms raised to remind people of negative impacts that are caused by globalisation.
Economy and employment have been thriving in some developing countries for the last 30 years since globalisation first formed its concept. Countries, such as China, India, and South Africa, which had once struggled with economic developments, are largely affected when most giant international corporations moved to nations where tax rates are lower and labour rates are cheaper. This particular wave has created enormous new businesses in less developed countries. Therefore, both economics and employments have been promoted significantly by globalisation.
However, some economists and sociologists believe that globalisation has not created jobs globally; rather, it simply shifted employment opportunities from developed countries to developing countries. As a result, when China is experiencing high job growth, The United States, on the other hand, is suffering from the high unemployment rate.
They also claim that globalisation encourages dependency on other countries so that if one country’s economy collapses, it is very likely that other countries’ economies will be damaged as well. The 2008 global economic crisis had well demonstrated how this dependent relationship worked very negatively among countries during the crisis.
In conclusion, globalisation plays a major role in pushing economic and employment developments forward in developing countries; however, evidence has suggested that it has negative impacts on industrialised countries in terms of economic and labour market growths. Moreover, the unhealthy dependence among countries is another concern in relation to globalisation.
Mixed opinions exist among
people
in relation to how
globalisation
influences the economies of the world.
Some
argue that it is evident that
globalisation
has brought dramatic
economic
growths and more
employment
opportunities around the world,
particularly
in the
developing
countries
.
However
, there are criticisms raised to remind
people
of
negative
impacts that
are caused
by
globalisation
.
Economy and
employment
have been thriving in
some
developing
countries
for the last 30 years since
globalisation
first
formed its concept.
Countries
, such as China, India, and South Africa, which had once struggled with
economic
developments, are
largely
affected
when most giant international corporations
moved
to nations where tax rates are lower and
labour
rates are cheaper. This particular wave has created enormous new businesses in less developed
countries
.
Therefore
, both
economics
and
employments
have
been promoted
significantly
by
globalisation
.
However
,
some
economists and sociologists believe that
globalisation
has not created jobs globally;
rather
, it
simply
shifted
employment
opportunities from developed
countries
to
developing
countries
.
As a result
, when China is experiencing high job growth, The United States,
on the other hand
, is suffering from the high unemployment rate.
They
also
claim that
globalisation
encourages dependency on other
countries
so
that if one
country’s
economy collapses, it is
very
likely that other
countries’
economies will
be damaged
as well
. The 2008 global
economic
crisis had well demonstrated how this dependent relationship worked
very
negatively
among
countries
during the crisis.
In conclusion
,
globalisation
plays a major role in pushing
economic
and
employment
developments forward in
developing
countries
;
however
, evidence has suggested that it has
negative
impacts on
industrialised
countries
in terms of
economic
and
labour
market growths.
Moreover
, the unhealthy dependence among
countries
is another concern in relation to
globalisation
.