# Some Pros and Cons of Globalization

Advocates See That GlobalizationCritics See That GlobalizationCreates growth, spreads prosperity, and increases opportunity—note emerging market economies.Does not result in promised levels of growth.Promotes equality. Competition will ensure that the U.S. does not remain the world’s only superpower—is creating a new world economic profile, in which India, Korea, Brazil, China, perhaps Russia replace Japan, Germany, France …; free trade is defined as the absence of discrimination (against foreign suppliers or buyers).Concentrates power and wealth in fewer and fewer hands—debt avoidance and relief, global tax evasion by the most wealthy.Maximizes income and develops infrastructure, resulting in better lifestyles—everyone gains, on average, though some gain more than othersPromotes inequality and poverty, especially in developing countries: “haves” benefit more than “have nots,” salaries and dividends grow more than wages, unemployment is exacerbated.Spurs an increase in productivity and efficiency, overcoming complacency. The U.S. had 20+ years of low productivity gains followed by a rapid 3-fold increase—half of these productivity gains are linked to globalization. Globalized companies are 10-20% more productive than domestic only companies and enjoy 2-4% higher sales growth.Undermines democracy, both nationally and internationally—disproportionate corporate influence on the rule-making process.Creates jobs by creating new industries (IT).Ruins the environment—changes the climate, results in habitat and species loss, depletes resources with inadequate compensation to residents.Broadens markets.Disregards human and worker rights, especially those of indigenous populations.Increases the choices available to individuals, groups and countries.Encourages market failure, regulatory imbalance, and financial market volatility.Lowers prices—the globalization of IT/hardware, for example, resulted in 10%-30% cut in prices beyond those due to technological advances.Homogenizes (westernizes or Americanizes) the world, squeezing out cultural diversity and policy autonomy, eroding community values.Promotes best-practice worldwide.Requires macroeconommic austerity, privatization, and a laissez-faire approach to economics—the “Washington .Consensus” conditionality.Requires high-level skills, rapid skill improvement, and flexibility, thus it encourages education.Focuses on large infrastructure projects prone to corruption, indebtedness and environmental degradation.Can suppress terrorist financing and support reconstruction efforts.Does not result in promised levels of growth.Ensures technological development.Imposes expensive health, safety and environmental standards on developing economies.Has been the dominant force for change in international affairs for the past 50 years.Promotes secularism and “wasteful diversity”—excessive variety and provision of luxury.Increases economic “fitness” and results in economies of scale.Mortgages the future to reward those living now.

A Cultural Detective seeks to manage these polarities by ensuring that the "cons" are lessened and that the "pros" truly happen.

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Some Pros and Cons of Globalization - Cultural Detective