What are the positive & negative effects of globalization and multinational enterprise on world society?

[franb76]

[iluvrunning]

1) negative- other 3rd world countries begin to lose their own traditions/culture that makes them ideal tourist spots and tourism is the main source of revenue for these countries

2) positive-boosts the American economy/power

[justbeingher]

Positive - 3rd world countries now have a shot at increasing their economic standing by providing something on world markets - example India. Now countries are outsourcing services and production to them because they will work for cheap, and their status as an economic power has increased to the point where they and China are rising to the top of world economic power.

Negative - Hmmm. It's causing the US to be leveled on the playing field as their dollar falls and their economic monopolies/strongholds are now up for sale on thew world markets.

[Neeta]

Effects of globalization

Globalization has various aspects which affect the world in several different ways such as:

Industrial (alias trans nationalization) - emergence of worldwide production markets and broader access to a range of foreign products for consumers and companies
Financial - emergence of worldwide financial markets and better access to external financing for corporate, national and subnational borrowers
Economic - realization of a global common market, based on the freedom of exchange of goods and capital.
Political - political globalization is the creation of a world government which regulates the relationships among nations and guarantees the rights arising from social and economic globalization. [10] Politically, the United States has enjoyed a position of power among the world powers; in part because of its strong and wealthy economy. With the influence of Globalization and with the help of The United States’ own economy, the People's Republic of China has experienced some tremendous growth within the past decade. If China continues to grow at the rate projected by the trends, then it is very likely that in the next twenty years, there will be a major reallocation of power among the world leaders. China will have enough wealth, industry, and technology to rival the United States for the position of leading world power. [11] The European Union, Russian Federation and India are among the other already-established world powers which may have the ability to influence future world politics.
Informational - increase in information flows between geographically remote locations
Cultural - growth of cross-cultural contacts; advent of new categories of consciousness and identities such as Globalism - which embodies cultural diffusion, the desire to consume and enjoy foreign products and ideas, adopt new technology and practices, and participate in a "world culture"; loss of languages (and corresponding loss of ideas), also see Transformation of culture
Ecological- the advent of global environmental challenges that can not be solved without international cooperation, such as climate change, cross-boundary water and air pollution, over-fishing of the ocean, and the spread of invasive species. Many factories are built in developing countries where they can pollute freely.
Social - increased circulation by people of all nations with fewer restrictions
Transportation - fewer and fewer European cars on European roads each year (the same can also be said about American cars on American roads) and the death of distance through the incorporation of technology to decrease travel time.[clarify]
International cultural exchange
Spreading of multiculturalism, and better individual access to cultural diversity (e.g. through the export of Hollywood and Bollywood movies). However, the imported culture can easily supplant the local culture, causing reduction in diversity through hybridization or even assimilation. The most prominent form of this is Westernization, but Sinicization of cultures has taken place over most of Asia for many centuries.
Greater international travel and tourism
Greater immigration, including illegal immigration
Spread of local consumer products (e.g. food) to other countries (often adapted to their culture)
World-wide fads and pop culture such as Pokémon, Sudoku, Numa Numa, Origami, Idol series, YouTube, Orkut, Facebook, and MySpace.
World-wide sporting events such as FIFA World Cup and the Olympic Games.
Formation or development of a set of universal values
Technical
Development of a global telecommunications infrastructure and greater transborder data flow, using such technologies as the Internet, communication satellites, submarine fiber optic cable, and wireless telephones
Increase in the number of standards applied globally; e.g. copyright laws, patents and world trade agreements.
Legal/Ethical
The push by many advocates for an international criminal court and international justice movements.
Crime importation and raising awareness of global crime-fighting efforts and cooperation.
Sexual awareness – It is often easy to only focus on the economic aspects of Globalization. This term also has strong social meanings behind it. Globalization can also mean a cultural interaction between different countries. Globalization may also have social effects such changes in sexual inequality, and to this issue brought about a greater awareness of the different (often more brutal) types of gender discrimination throughout the world. For example, Women and girls in African countries have long been subjected to female circumcision- such a harmful procedure has been since exposed to the world, and the practice is now decreasing in occurrence.