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    Hey! Could you tell me what are pros and cons of globalization? 5 points for both. Thank you in advance!
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    (Original post by karpicha)
    Hey! Could you tell me what are pros and cons of globalization? 5 points for both. Thank you in advance!
    isnt this in your textbook?

    https://www.forbes.com/sites/mikecol.../#4408689eccce

    https://smartasset.com/mortgage/the-...-globalization
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    (Original post by karpicha)
    Hey! Could you tell me what are pros and cons of globalization? 5 points for both. Thank you in advance!
    Pros:
    Time space compression (quicker trading marketing etc)
    Glocal (meeting global scale meeting localised ideas)
    Communal society (sharing of cultures)
    Interconnectedness (usage of the internet to build relationships)

    Cons:
    Globalised crime (terrorism, drugs market)
    Free travel (again criminal aspects)

    Can’t think of anymore, I did this years ago 😂
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    Pros : improving long term transportation and overseas investment creating capital inflow >> enhancing the incentive for firms to become more innovative and efficient

    Cons : hurting infant (local) entrepreneurs that are new to the industry and possible exploitation of natural resources for self interest

    Also globalization can be applied to make vs buy problem as this creates an advantage for buy as the reduction in trade barriers reduces the transaction cost and making the production cost advantage of buying more dominant
 
 
 

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