pros and cons of globalisation

Globalization - Pros
 Lower prices for goods and services.
 Economic growth stimulation.
 Increase in consumer income.
 Creates jobs.
 Countries specialize in production of goods and services that are produced most efficiently.

Globalization – Cons
 Destroys manufacturing jobs in wealthy, advanced countries.
 Wage rates of unskilled workers in advanced countries declines.
 Companies move to countries with fewer labor and environment regulations.
 Loss of sovereignty.

Differences between International and Domestic Businesses
 Countries are different.
 The ranges of problems are wider and more complex.
 The intervention of governments that may limit international trade and investment.
 The need to convert into different currencies.