Globalization is a process of uniting world economies, integrating cultures and strengthening relations between states. Although globalization is a continuous and continuous process, its role in the modern development of the world causes a lot of discussion, since it has many threats and challenges that are actively discussed by antiglobalists.
Cons in the economic sphere
In general, the processes of globalization have a positive dynamics of economic development, but at the same time they have several serious drawbacks.
1. Unemployment. Increasingly, to reduce the cost of production, companies transfer production to less developed countries, where labor costs are much lower.
2. Excessive dependence of countries on other players in the international market. The crisis of 2008 showed how closely the camps are interconnected. And the US mortgage crisis has become a global crisis with tangible losses for virtually the entire world.
3. Illegal immigration. This process creates a very big problem for countries with developed economies, the flows of excessive immigration generate waves of unemployment, since it is mainly difficult for immigrants to find work. Often they become a big burden for the budgets of the host countries. It also has a very negative effect on the criminal situation in the country.
4. Speculation in the foreign exchange markets. Large flows of international trade have necessitated the creation of foreign exchange markets to ensure the solvency of national currencies. From this huge market, speculators daily extract huge amounts without producing goods or providing the necessary services. Moreover, their role is so great that they can affect the calculation of exchange rates.
