THE DOWNSIDE OF GLOBALIZATION

Year 2011, Volume: 4 Issue: 52, 54 - 58, 01.05.2011

Dr. E. Ekmekchikoglu

Abstract

Globalization is the integration and interaction
of people and companies at various locations
around the globe. It is the flow of goods and
services from North to South, East to West - the
worldwide expansion of business. Globalization
has brought about an increase in international
trade, helped assist with greater global communication,
outsourcing, and many other activities we
now consider ‘the norm’ in day-to-day business.
Business magazines and new shows are constantly
covering the negative effects globalization
has had on the US economy: outsourcing technical
jobs to India, moving manufacturing facilities
to Asia, skyrocketing unemployment rates
and closures all over the country. But what about the rest (and majority) of the world? Are
these jobs that are moving to other countries really
helping them? On the surface, the simple
answer seems to be yes – jobs equal increased
economic activity. Digging deeper reveals a different
story, however, where not everyone in
these countries is benefiting.

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