Globalization Contributes to Sustainable Prosperity for All People

Topics: Globalization, The Cure, Poverty Pages: 2 (518 words) Published: November 1, 2010
Globalization contributes to sustainable prosperity for all people. By sharing ideas and opening trade between different countries, we can cut down on poverty increasing the number of companies competing for the sale of the same good or service. From a consumers perspective this is good because it causes prices to drop and the quality to increase in order to win the consumers business. For lower income people this makes goods more affordable making there money go farther in improving there quality of life. The government, in most countries, limits this to a point by putting tariffs on cheaper foreign goods to try and protect its companies from going out of business, and not allowing foreign transnational companies to control the global marketplace. In 2008, Wal-Mart (WMT) had net income of 12,731,000,000 on total revenue of $378,799,000,000 according to documents filed with the SEC.[ ] Globalization helps flood the market by opening trade with other countries giving consumers more power and the ability to dictate what is being produced and how. If consumers as a collective bought only environmentally friendly products companies would be forced to transition to meet our demands making the world a cleaner place. “Today, the forces of competition, technology, and globalization have converged to spur innovation and to transform the way business is done.”[ ] Globalization contributes to sustainable prosperity for all. By sharing knowledge of technologies and cures we can all achieve a higher standard of living. It increases competition which helps bring down prices letting people get above the poverty line. Globalization is crucial to prosperity for everyone.and share knowledge of cures for different sicknesses that may have been discovered. Globalization also affects competition for goods and services, by increasing the supply, the price of these goods is driven down. This is why globalization benefits the world. Embracing globalization and liberalizing trade...
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