Pros and Cons of Globalization Page 6-7 Group #3

Pros and Cons of Globalization Page 6-7 Group # 3

Wednesday, September 09, 2009
2:08 PM

The first paragraph is about Thomas Friedman being an influential person who speaks for globalization. He describes bond traders, currency speculators, and fund managers as the electronic herd. He says the world has shrunk which means that we have come to a low point and either give the money to someone or withhold it which makes winners and losers in the economy. Thomas Friedman also says that the world is separating and becoming a competition. Rather than just trading goods, we are seeing who can make the most money and who can acquire highly polluting industries.

Pros-
Services flow freely from place to place.
There are some winners in the economy.
The world has shrunk and become flat so it is easier to trade and make money.



Second paragraph- Pro-globalizers think that even factories that make workers work in a labor -intensive environment for a low pay is good. These are called Sweatshops. People argue that firms based in North America or Europe pay better and are safer. Pro-globalizers also say that that poor countries should take advantage of their nonstrict environment laws to attract polluting companies from the other countries so it would enhance their success.

Pros- Sweatshops still give pay and help economy.
Once they make full employment in sweatshops, they can improve conditions.
When the poor countries get polluting industries, it well help them succeed in their economy.