Pros and Cons of Globalization

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Pros and Cons of Globalization

PRO- Free Trade is able to reduce barries such as tarrifs, taxes, and subsidies. One of the examples would be NAFTA.

PRO- Gives countries to agree to free trade, For example The TPP.

PRO- Provides poor countries with the chance to develop economically.

Con- Loss of culture

As more people immigrate to other countries, the diversity of the countries would change because many people would adapt to the values and culture around them.

Con- Smaller countries suffer more.

Companies that are based in a less developed country do not benefit as much as the other countries that are well developed. For exapmle, Somalia is a country which is not as developed. Recently, 5 million people did not have engouh to eat, which shows its poverty rate.

PRO- Globalization represents free trade which promotes global econmic growth. For example, it creates more job oppurtunities.

Free trade is an important part of globalization as many countries are able to import and export goods or services. This allows the countries to be financially stable and causes economic growth for a country as more companies start exporting.

PROS- Different countries are able to learn about each other.

As many countries unite, they are able to learn and understand the cultural and values of another country. This essentially helps influence other countries of specific needs and would help them when marketing a specific product because they would understand the consumers lifestyle.

Con- Companies seek personal gain.

Companies have the ability to trade with with countries that they are not based in by having the ability to raise tax prices on exports.

Cons- Has a negitive impact on the enviroment.

As many companies export products, the production also increases causing a negitive impact on the enviroment.