Globalization Positive and Negative Impacts

Businesses that go global have to deal with high export rate fees as well as tariffs. About ⅓ of tech leaders around the world in business, (specifically the U.S. and U.K.) find this to be of a challenge to them. It can be very costly to ship products overseas so they will have to take this into consideration (KN)

In order for companies to sell products at a lower cost, lower cost labor must be taken into account. While the benefits come to a variety of customers, the people who produce the products are exploited in many ways by putting in hard work and effort and getting paid little to nothing to support their family or even themselves. Countries in Asia such as China and Malaysia have workers that can be easily exploited. An example of this is that all Hot Wheels cars are sold in western countries such as USA and Canada however they are made in Malaysia. At the store, Hot Wheels cost only $1.00. In order for that low cost to happen, the workers have to be paid much less. It’s the best selling toy in the world with more than a hundred billion in existence so we can tell how easily these workers are exploited. (KN)

Hiring staff and marketing in foreign countries would become difficult to monitor. While marketing a certain item seems reasonable in the residing country, in another it could seem absurd/obscure. Managing a single franchise is already difficult, so having to manage several in different countries would become difficult and hard to handle, due to communication issues. (HG)

With globalization commonly occurring, gaining access to foreign culture is easier than before. Cultural items such as food, art, music, and art are included in these exports. This allows people to stream their favorite music or eat foods they would never be able to eat without globalization/exports. An example would be growing cocoa plants in Canada or bananas/pineapple. It would require a specific environment. Without imports & exports, products available would decrease. If this factor were true, prices would increase by a large sum of money. (HG)

With globalization, more exports are rolling out of countries. The countries with the highest export rates are China and the United States, bringing in around $2 million/more. Sales and exports without globalization would decrease dramatically and trading would become difficult. The main concept of exporting and importing revolves around globalization and the relationships we have with other countries. (HG)

If it wasn’t for globalization, domestic businesses in Canada wouldn’t be able to innovate new products due to lack of technology and ideas. Seeing the competition globally firsthand allows businesses to compare and contrast and improve their own product’s quality. When a company improves overall, it’s better to expand internationally for a bigger market, which would in turn benefit society as a whole. (KN)