Globalisation In Australia Essay

Globalisation In Australia Essay-62
• Multinational corporations are accused of social injustice, unfair working conditions (including slave labor wages, living and working conditions), as well as lack of concern for environment, mismanagement of natural resources, and ecological damage.• Multinational corporations, which were previously restricted to commercial activities, are increasingly influencing political decisions.We need the government to develop a plan to begin to balance our trade deficit even though this is not a political priority in either party.

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Besides currency manipulation they subsidize their state owned companies to target our markets, and provide funding to their state owned companies that dump their products in America.

They also steal our technologies, sell counterfeit versions of our products, and impose tariffs and other barriers anytime they want - as we do nothing to stop them.

It should be pure business with no colonialist designs. There is now a worldwide market for companies and consumers who have access to products of different countries. Gradually there is a world power that is being created instead of compartmentalized power sectors. Most people see speedy travel, mass communications and quick dissemination of information through the Internet as benefits of globalization. Labor can move from country to country to market their skills.

Politics is merging and decisions that are being taken are actually beneficial for people all over the world. Socially we have become more open and tolerant towards each other and people who live in the other part of the world are not considered aliens. True, but this can cause problems with the existing labor and downward pressure on wages. Sharing technology with developing nations will help them progress. many jobs and always increase our trade deficit Cons • The general complaint about globalization is that it has made the rich richer while making the non-rich poorer. • The biggest problem for developed countries is that jobs are lost and transferred to lower cost countries.” According to conservative estimates by Robert Scott of the Economic Policy Institute, granting China most favored nation status drained away 3.2 million jobs, including 2.4 million manufacturing jobs.

Pros Supporters of globalization argue that it has the potential to make this world a better place to live in and solve some of the deep-seated problems like unemployment and poverty. Free trade is supposed to reduce barriers such as tariffs, value added taxes, subsidies, and other barriers between nations. The proponents say globalization represents free trade which promotes global economic growth; creates jobs, makes companies more competitive, and lowers prices for consumers. Competition between countries is supposed to drive prices down.

In many cases this is not working because countries manipulate their currency to get a price advantage. It also provides poor countries, through infusions of foreign capital and technology, with the chance to develop economically and by spreading prosperity, creates the conditions in which democracy and respect for human rights may flourish.“During the most recent period of rapid growth in global trade and investment, 1960 to 1998, inequality worsened both internationally and within countries.The UN Development Program reports that the richest 20 percent of the world's population consume 86 percent of the world's resources while the poorest 80 percent consume just 14 percent.The upcoming Trans Pacific Trade Agreement will do the same thing and Congress should not fast track this bad agreement for a dozen reasons.Enforcing the rules – China ignores trade rules and WTO laws with reckless abandon.Many think there is a threat of corporations ruling the world because they are gaining power, due to globalization.• Building products overseas in countries like China puts our technologies at risk of being copied or stolen, which is in fact happening rapidly • The anti-globalists also claim that globalization is not working for the majority of the world.A story in the Washington Post said “20 years ago globalization was pitched as a strategy that would raise all boats in poor and rich countries alike. And in time trade barriers would drop to support even more multinationals expansion and economic gains while geo political cooperation would flourish.” There is no question that globalization has been a good thing for many developing countries who now have access to our markets and can export cheap goods. and Europe consumers would have their pick of inexpensive items made by people thousands of miles away whose pay was much lower than theirs.We have not made any effort to balance our trade budget and have run a deficit for more than 30 years resulting in an trillion deficit.The trade deficit is the single biggest job killer in our economy, particularly manufacturing jobs.


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