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What are the advantages and disadvantages of globalization?

Proponents of globalization say it improves citizens' lives via the distribution of jobs, capital, and technology across borders, promoting peace through deeper economic ties between nations. Others claim the globalized movement of goods and people has fuelled inequality, environmental degradation, and deepened economic inequalities.

Globalization is good

Globalization has created jobs, lowered the price of consumer goods, fuelled innovation and contributed to peace on earth.

Globalization creates jobs

Economic liberalization has made it easier for companies to relocate, allowing them to rapidly scale up and create new jobs.

Globalization has lowered prices

The free movement of goods and people has brought overheads down and allowed companies to sell products more cheaply.

Globalization has improved access to technology

In a hyper-connected world, new technologies spread faster between markets.

Globalization promotes peace

The deeper the economic ties between nations, the greater the incentive to avoid conflict.

Globalization improves productivity

Globalization improves domestic productivity by expanding knowledge. Allowing foreign imports increases competition, which forces innovation in order for companies to stay in demand.

Globalization is bad

Globalization has fuelled inequality, eroded worker protections and contributed to environmental degradation.

Globalization fuels inequality

Globalization makes the rich richer and the poor poorer.

Globalization leads to reduced public revenues

The free movement of labour allows companies to easily relocate to tax havens.

Globalization creates a race to the bottom

Globalization increases international competition which creates a race to the bottom.

Globalization leaves us vulnerable to infectious diseases

In a hyper-connected world, infectious diseases can spread more rapidly, increasing the likelihood of an international pandemic.

Globalization destroys the environment

Globalization introduces an economic model that is incompatible with environmental protection.

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This page was last edited on Tuesday, 28 Jul 2020 at 17:47 UTC