How Does Globalization Impact Consumers? Essay

How does globalisation impact consumers? This question has been highly debated by economists. Some intend consumers depart be negatively affected by globalization with greater economic instability and multiple monetary crisis while corporations receive record profits. Other experts are of the opinion that globalization willing provide customers with more wealthiness, more goods at lower costs, and will end poverty. Globalization gives customers the advantage of getting the vanquish products at the best outlays, per many economists and theorists. Each country, in a global market, manufacturers a product (or products) that they are best and most efficient at producing. As a result, consumers have affordable products that were previously out of their price range in some cultures (i.e. cars).Thus, the standard of living in each country is raised imputable to the positive effects of globalization. According to this perspective, the new global economy will shift millions of peopl e from unquestioning poverty to the middle class. Another predicted benefit of globalization is that it will increase global salaries of managers and professionals and provide an increase market for international positions. Consumer access to disposable income will increase demand for technological advancement and new and improved goods. Further, lower prices give consumers the benefit of universe able to save money or go across money on things they want instead of only things they need. In the article Global Marketing and Advertising, de Mooij suggests (Sage, 2005) that wealth brings choice and she believes consumers will choose to bring back old values to contain or in an effort to halt the westernizing of their culture. Harvard ProfessorSamuel Huntington agrees that globalization will cause a renewed interest in local traditions. In his article, The Clash of Civilizations and Remaking of World Order (Simon & Schuster, 1997), he opined that modernization encourages local kindl y confidence and a resurgence of faith in local traditions and customs. Some see many disadvantages of globalization. Opponents of globalization state that it makes the rich more wealthy and the poor even poorer, particularly in cultures without ethical protections of its workforce. The opponents believe poor cultures will become too dependent upon other cultures because they cannot keep up.For example, Indias poverty in factions could worsen due to becoming more dependent on imports from other countries that could lead to high inflation. or else of Indiasmanufacturing sector expanding it could cause Indias people greater disadvantage due to not being able to complete with other nations technologically or scientifically. Another opponent of globalization stated that developing in Third World exports will create more oppression of workers because cheap labor will be more common and in more demand. Thus, common people in Indonesia and Bangladesh will stomach more harshly. Put in an other way, cheap labor will be the demand, not readiness of industry, and will be the new cotton.