The simple truth is that globalization and industrialization has done serious harm to the environment. However, are these upsides enough to counter the effect that globalization has had on the environment we live in? The Environmental Toll Of Globalization

Free trade is beneficial to businesses of all sizes, meaning there are more jobs and wealth in the economy.

You can buy a new house in Malaysia, a condo in France, or a mansion in Romania with far greater ease than ever before. If you want to invest in property and find that the domestic market is too expensive, then you can look overseas for options.

Investment opportunities are no longer limited to borders.

If you want to try living in another country, then there are opportunities that make this possible, even if you don’t speak the language.

The world is more open to working people than it ever has been before.

Lofty goals, but with one serious downside: the impact on the environment.īefore we dig into this, however, in the name of fairness, let’s discuss the positive impact of globalization: Globalization aimed to take borders down, to unite everyone, to make us all citizens of the world, to improve business links and allow for free trade. The founding idea of globalization is that no country should be restricted to their own borders that the world is part of a large community rather than restricted to small countries. Buying and selling of stocks and transfer of funds can take place now instantly.Globalization was meant to change the world– and it did. E-money, e-banking, B2B business, B2C business and internet have added to speed up globalisation. IT has revolutionised the way the business goes. Development has immensely influenced world trade by bridging space and time. The technological revolution the world has witnessed in the last two decades is overwhelming. To channelise the resources of the country, To help in building up foreign exchange reserves, The fears of the countries in that case may be: Banning / restricting products of foreign origin. Incentives and prioritisation to specific domestic industries, and Imposing high taxes and duties for capital goods, spares and materials,

Many countries in Particular developing ones impose restrictions to globalisations by: Today India is exporting computer / software related services to advanced counties like UK, USA, etc. European countries like England and Germany exported their chemical, electrical, mechanical plants in 50s and 60s and exports high tech (then) goods to under developed countries. The stage of technology in a particular field gives rise to import or export of products or services from or to the country. The hiring of services and procurement of sub-assemblies and components have a strong influence in the globalisation process. The technological development in the areas of production, product mix and firms are helping organisations to expand their operations. Trading in European Union and special agreement in the erstwhile Soviet block and SAARC are examples. The regional trade understandings or agreements determine the scope of globalization. The political issues of a country make globalisation channelised as per political bosses. The development of overseas markets and manufacturing plants in autos, four wheelers and two wheelers is a classical example. Utilisation of built up capacities of production, sluggishness in domestic market and over production makes a manufacturing company look outward and go global. As may be seen from the table low on scale is lack or shortfall and hence, ranking is low. The details are based on expert survey on globalisation. The Table 16.1 gives the strengths and weakness of India in global level.

That is going near the customer makes globalisation. The large markets as consumer bases in Asian countries have led many European, Korean to Japanese manufacturing conglomerates and shift their manufacturing and trading bases in Asian countries. Near distance to end user or consumer also is an important factor in globalisation.

Few of these Australian mining and metal companies are owned by European / Japanese / American companies. The mineral based industries like steel, aluminium, coal in Australia are examples. Labour regulations impede adjustment of working hours to meet changes in demandĮxtra payment connected with permits and licenses are common Hiring and firing practices are severely restricted The business sector spends little on R & Dįirms fail to commercialise academic researchĬompanies are poorly adopted to absorbing new technologies Road infrastructure constraints business developmentĭirect dial phone service is prohibitively expensiveĬountry suffers from severe power shortage Overall infrastructure is far worse than major trading partners

Government subsidies keep old industries aliveĬivil Service is subject to political pressures Administrative regulations that constrain business are pervasive

Five major drivers of globalization