Activity # 5 Economic Globalization
Construct a grid showing the pros and cons of economic globalization. Under
each item, provide one example that you can relate to benefits and harms of
economic globalization.
Pros
Cons
1. It gives undeveloped countries a
chance to join the developed
world.
2. It forces us all to share financial
considerations.
3. New innovations would create
new technologies in a number of
fields.
1. Most of the world gets ignored in
economic globalization.
2. It would shift where
unemployment and poverty
happen to be.
3. It removes the emphasis of local
cultures.
Illustrative Examples:
Illustrative Examples:
1. Many countries are struggling
to keep pace with the global
changes that are happening
today. Economic globalization
would undoubtedly bring about
a new wave of outsourcing,
bringing in new revenues to
nations that could use a burst
of cash to work on their
infrastructure and other
internal needs. Over time, it
could create a level of equality in
development that hasn’t been
seen since the Roman Empire
ruled over much of the known
world.
1. The richest 20% of the world is
believe to consume about 85%
of the world’s total resources.
That means as the world grows
smaller, the undeveloped world
is just going to be left behind.
Poor nations when combined
only get 15% of current
resources as it is and as
business opportunities take on
a global calling, that inequality
is likely to continue growing
over time.
