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Societal Consequences of Market Globalization
Gamze Dalçiçek10090991256
Consequences of Globalization
Loss of National SovereigntyOffshoring and the Flight of JobsEffect on the PoorEffect on the Natural
EnvironmentEffect on National Culture
Negative Societal Consequences of Market
Globalization
1.Loss of National Sovereignty1.Loss of National Sovereignty
Sovereignty is the ability of a nation to govern its own affairs.
One country’s laws cannot be applied or enforced in another country.
MNE activities can interfere with the sovereign ability of governments to control their own economics, social structure, political system.
Negative Societal Consequences of Market
Globalization
1.Loss of National Sovereignty
Some corporations are bigger than the economies of many nations such as Wal-Mart
Negative Societal Consequences of Market
Globalization
Wal-Mart’s internal economy is larger than the GDP of most of the world’s nations, including Greece, and Polond
Negative Societal Consequences of Market
Globalization
Negative Societal Consequences of Market Globalization
1.Loss of National Sovereignty
Large multinationals can exert considerable influence on govertments through their economy.
Negative Societal Consequences of Market
Globalization
2.Offshoring and the Flight of Jobs
Offshoring is the relocation of manufacturing and other value chain activities to cost effective locations abroad.
Offshoring has resulted in job losses in numerous mature economies.
Negative Societal Consequences of Market
Globalization
Negative Societal Consequences of Market
Globalization
3.Effect on the Poor3.Effect on the Poor
Multinational firms are often criticized for
Paying low wages
Exploiting workers
Employing child labor
Negative Societal Consequences of Market
Globalization
4.Effect on the Natural Environment
Globalization can harm the environment by promoting increased manufacturing and economic activity that result in
Pollution Habitat destruction Deterioration of the ozone layer.
Negative Societal Consequences of Market
Globalization
5.Effect on National Culture
Globalization exerts strong pressures on national culture.
Globalization can change people’s norms,values and behaviour,which tend to homogenize over time.Negative Societal
Consequences of Market Globalization
People and natural environment are influenced negative consequences of globalization.
Negative Societal Consequences of Market Globalization
Conclusion