The Pros and Cons
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- More foreign goods. In Canada, with economic globalization, we are able to eat fresh fruits and vegetables in winter. Make lives easier for us. - With the trade happening around the world, there is more diversity. While we are in Canada, we can go out and eat Chinese, Thai, Greek foods, and watch US's movie. - Helping developing countries. Transnational corporations setup in developing countries offering jobs for the people in developing countries, help those countries to recover from poverty.
- Threat to local markets. When a transnational corporation opens up, people tends to go shop at the transnational corporation because there is varieties of goods to choose from. Cause local markets' business to go downwards, and eventually close up. - When economic globalization is bring us diversity, its also destroying peoples' culture. Most movies, and TV shows that we watch and music we listen to in Canada is produced in US. American's culture is dominating the world and assimilate other cultures. - Countries become too interdependent with each other .When one country's economic system crashes, it will cause a huge impact to world. It will be like the Great Depression all over again, but this time it will happen to the world not just America. - When the governments of the developing countries trying attack transnational corporation, it causes a lot human rights problems like child labour.
is economic globalization a good thing or bad thing?
Economic globalization can benefit and harm us at the same time. However, its inevitable, and we must face it.
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