Globalization and its impact on the fashion industry?

Answer 1

Globalists believe the economic growth that occurs as one of the effects of globalizationoutweighs its disadvantages. They expect that enough money and economic progress will be made to pay for any damage to environment or small-scale economy that might happen. It can also help improve the economies of nations with high levels of poverty, giving their citizens access to the technology, clean water and city infrastructure that comes with economic business development.

One theory of the effects of globalization suggests that global trade can increase worldwide financial instability. Because the globalization system means one country's economy can directly affect Another Country's economy through their mutual trade, financial crises that start in one country can become a worldwide problem for all countries connected to it. The economic effects of globalization are generally positive for countries engaging in global trade, raising the per capita income of the citizens of those countries. In some countries, the rich gain more money, while the poor lose access to financial and Natural Resources taken by global companies.

Globalization can help mega-corporations that may create environmental disturbances and pollution. Many believe the economic growth that occurs as one of the effects of globalizationwill create enough revenue to clean up any environmental disasters that occur as a casualty of business. Still others believe corporations do not take responsibility for cleanup. In the past, legal limits on corporate liability for environmental damage caused by disasters like oil spills have kept large corporations from bearing the full financial responsibility for cleanup of the environmental problems caused by their company operations.