Negative impact of globalization Essay Example | Topics and Well Written Essays - 500 words

Negative impact of globalisation - Essay ExampleThe line of living standard between rich and poor is accelerating alarming rates. Organizations alike World Bank and IMF, for instance, provide huge loans and funding for projects primarily aimed at obliging the Neoliberal government of globalization. The formation of an unrestricted international free market has benefited multinational companies and corporations in influencing the political decisions. These corporations be unceasingly deriving huge benefits at the expense of local enterprises, cultures, and raft, mostly in the western world.Privatization of national holdings has light-emitting diode to crinkle insecurity and lower standards of living. Employees be being recruited on contract basis reducing job incentives. A lot of people are even working at less than minimum reward due to far greater job competition that has affected their normal living standard adversely. Additionally, employees are living in a constant fear o f losing their jobs to competition.Developed countries worldwide have strong standards for taint control. Firms take advantage of the countries with poor milieual regulations and are continuously setting up industries degrading the environment for financial gains. The popular fast food chains such as McDonalds and KFC are attracting more people to consume junk food giving rise to various health concerns.Businesses in developed countries are outsourcing jobs to cheaper developing world consequently leaving their own people with less job opportunities. For instance, the cost of manufacturing goods and pay are low in China and India. Many local talents like programmers, writers, scientists, accountants and teachers have lost their jobs as a result of outsourcing to these countries.One of the major adverse effects of globalization is child labor exploitation. baby bird workers are recruited at comparatively negligible cost and are