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Major Issues and Costs Involved in Globalization

Identify the costs involved in the globalization process. What are the major issues? What companies seem to promote corporate responsibility in all aspects of their businesses? Give at least one example. Discuss what can and/or should be done to encourage seemingly less-than-responsible businesses and governments to change their ways?

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The costs involved in the globalization process include the beneficiaries of the process. Inequities are seen to stem from the globalization process in terms of the gains seen as going mostly to wealthier nations. The marginalization of poor nations occurs, but with the same, has seen the emergence of small powerful nations such as the "Asian tigers." The independence of economic on a global scope is another cost of globalization, causing regional or global instabilities. The crisis affecting one economy is seen to have a domino effect to other nations depending on it for one aspect or another. A third cost stemming as a result of the globalization process includes as a shift in sovereign nations to other entities. Sovereignty is thus perceived to be undermined by the ...

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