Describe two problems that the world faces as a result of globalization and discuss the source of each of these problems?

Answer 1

Globalization has placed all the labor forces of the world in competition with eachother, which has tended to draw work away from countries in which workers are well paid, such as the US, and diverted it ("outsourcing") to countries where they are badly paid, such as China and the Phillipines. This is a problem in the sense that people are not being paid what they deserve to be paid, and efforts to improve the lives of workers are being undermined. A second problem is the increased depletion of Natural Resources such as petroleum and trees, as international corporations ruthlessly pursue profit at all costs, which they are pretty much driven to do by the demands of their stockholders, and by the competition from other, equally ruthless corporations. Businesses have the opportunity to go wherever they can make the most profit, so just as they seek cheap labor, so do they seek lax (or absent) environmental regulations.

Answer 2

One problem is income inequality, where globalization has widened the gap between the rich and poor due to uneven distribution of wealth and job opportunities. This can be attributed to the outsourcing of manufacturing jobs to countries with lower labor costs and the concentration of profits among multinational corporations.

Another problem is cultural homogenization, as globalization can lead to the loss of unique cultural practices and languages as Western norms and values dominate. This can be traced back to the spread of Western media and consumerism, which can erode local traditions and identities.