25 Sep The pros and cons of globalization

Please write a response to the statement below, you may use the same references:

Here are two major strengths and weaknesses of globalization:

Strength #1: Globalization is good for unifying the goals of multi-national corporations and government entities. With shared interests, corporations and governments can try to work through the environmental problems we face and work together for solutions that benefit everyone.

Strength #2: Globalization is a good thing for many, but not all, underdeveloped nations who can access larger markets to export their goods to more developed countries. Multi-national businesses are investing in factories in other impoverished countries which provides employment opportunities for them. Also, shared technology with developing nations helps them learn and be able to advance and be competitive in a global market.

Weakness #1: With more developed nations investing in building factories in less developed nations creates jobs for them but takes jobs from the laborers of the developed countries. It places pressure on nations like the US to cut cost by paying lower wages to our own workers because the workers of underdeveloped countries are willing to do the same work for less pay.

Weakness #2: Instead of the competition between countries driving prices down, the opposite is true because countries will simply manipulate their currency exchange rates to get a price advantage.

Collins, M. (2015, May 6). The pros and cons of globalization. Forbes. https://www.forbes.com/sites/mikecollins/2015/05/06/the-pros-and-cons-of-globalization/?sh=4886c68fccce