Many people believe that big companies who have entities in under-developed countries actually harm the societies and cultures in those countries and there may be evidence to support that. However, the authors of "Why Globalization is Good", Robyn Meredith and Suzanne Hoppough, try to argue that instead they are actually helping boost a majority of things within their respective economies. Currently and for the past several years, China and India have progressed immensely to become economic super powers. That's great and all, but what about their citizens? How do they fair after the invasion that is foreign interest has risen in the recent past?
TNCs choose to base their manufacturing plants in newly industrialised countries (NICs) due to the lower costs of labour, suitable infrastructure and government support schemes such as lower taxes and grants. However there seems to be some adverse social impacts such as poor working conditions and low pay for the employees. The World Bank has criticised TNCs and the government of NICs such as the Philippines, saying that these governments have been “less responsive than other developing economy’s governments to organise labour’s demand to
Personally I agree with what Anne O. Krueger is exclaiming and that economic globalization should be implemented. Economic globalization will in the end better the economy as a whole. Some small businesses may suffer, but as an entity the country will benefit. By reducing all tariffs the world of trade will broaden and expand to the lengths of the world. This will allow different parts of the world to enjoy merchandise that is specific to one country.
The less expansion, the less inflation. However, if the economy is slowing down, interest rates will decrease. This allows banks and businesses to borrow more cheaply, which results in them being able to higher more workers and produce more goods. The monitoring of inflation is very important in the US. Inflation has many negative affects.
If there is no minimum wage, then companies can pay ridiculously low wages to its employees 4. Companies could work together and take advantage of the workforce by forcing them to work for low prices B. Greater costs to society 1. Minimum wage leads to an increase in unemployment and those unemployed people are then a burden on society because the government has to pay for them through welfare
'International aid brings both benefits and problems for a country trying to develop its economy' with the aid of named examples evaluate this view. (30 marks) International aid can bring many problems to a country in need of development, this is usually through the ill-use, ill-deployment and abuse of International aid by both the donor countries and the recipient countries. However, effective aid brings more benefits to developing countries than problems is the aid is properly allocated to the area most in need and the aid is not ties so that it benefits the donor. International aid can bring problems to a developing country as it can be an obstacle to development and can provide other problems put forward by the political right. Aid can become an obstacle to development because of the tied nature of much aid, which benefits the donor country more than the recipient, in economic terms.
Although the Sarbanes-Oxley Act was passed by Congress for positive reasons, there are many disadvantages that come along with it. A major issue is the cost of regulation, especially for smaller companies. Expanding internal controls delay the timeliness of financial statements by adding processing time to accounting functions. To follow the SOX, companies would need to separate duties, causing an increase in personnel. The SOX also calls for additional audits which increase business costs.
However, there are advantages and disadvantages of international trade in the simulation that cause the world’s economy to fluctuate and leave certain countries astray. One of the advantages to international trade that I found for countries was the monetary gains and having the ability to keep their own markets honest causing the local producers to improve its goods for the reason citizens have more choices available to them. The disadvantages of international trade have to deal with countries of higher power that try to take advantage of smaller countries by swindling their government into unorthodox trading during a crisis within those countries. Another disadvantage is the possibility of local producers becoming weak, causing the unemployment rate to rise because local producers are unable to compete with international
The types of identity theft. 3. How to prevent identity theft. Transition: First, I would like to give you some information about… II. Identity Theft or Identity Fraud As a result of the expansive evolution of technology and its easier than ever access, (the Internet) identity theft has grown significantly over the last two decades.
• Should companies be socially responsible? (it is a free open response question, write as much as you can) o It could be argued whether or not a company is socially responsible or not. First of all, the definition of a socially responsible is: a company who pays low salaries perhaps to the African people who work for a low amount of money per day. However if someone is not socially responsible then the company will try to make as much profit as they possibly can and will not be concerned about other people who are growing the crops and living in harsh conditions who work for them and take really law wages. Most people are not defined as kind and will sacrifice something for the poor.