20 Sep The developed nations have been seen to take advantage
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Negative and positive outcomes of Globalization vary depending on the type of Multinational Corporation (MNC) and host country. In some circumstances, Globalization has been a catalyst for global advancement and in others, it has been an area of concern.
Globalization helps MNCs to access new markets. Both technological innovation and development of global transportation (Lamba & Malhorta, 2009) have made it easier for MNCs to access and penetrate markets globally because of the reduced costs of doing so.
Economically developed countries are benefitting most, as the increased access to goods in foreign markets are influencing cost saving by producing in nations with cheaper labour. An example of this is Apple Inc. Although Apple is a multinational American technology company, the assembly of the products is done in China. Moreover, due to MNCs having more access to foreign markets, there will also be an increase in outsourcing for employment (Flatworld Solutions, n.d.). Whether the companies are hiring from offshore for cost saving or to gain better expertise, both will benefit the company and host country.
In some respects, poorer nations tend to be negatively impacted by Globalization. Where developed nations will import primary products, developing countries have little purchasing power so they remain in poverty with existing debts. A disadvantage associated with Globalization on MNCs is the exploitation and social welfare relative to the working conditions of those in developing nations (Manufacturing.net,2010). The developed nations have been seen to take advantage of this matter, and take money out of the host country where employment laws are non-existent and conditions and wages are poor. The level of social injustice and inequality is detrimental.
Do you believe that developing countries are experiencing increased opportunities or more exploitation in regards to Globalization? What is your opinion?
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