IB International business Essay Example | Topics and Well Written Essays - 250 words

IB International business - turn out ExampleFinally, the competition arising from globalization encourages creativity and innovation, in addition to keeping commodity prices, and services in check (Stief 5).However, just like everything else, globalization comes with its demerits. Firstly, the interaction of different world cultures haseventuallybegun to meld, thus fading theidentityof each. The second negative effect is that while outsourcing provides job opportunities to people in one country, it takes international those opportunities from a nonher country thus leaving most of the population jobless. Finally, globalization has increased the chances of spreading super contagious diseases worldwide, and it might be animmensechallenge tostopthe spread (Stief 6).Globalization also has motleyeffects on underdeveloped countries such as Honduras, a country rich in pictorial resources, but like most third world countries, only the wealthy and foreign corporations benefit from this w ealth, not the poor.The first effect is that third world countries can nowimprovetheireconomicperformanceand their hold standards as more money gets channelled to these countries.Secondly, developing countries have theprivilegeto enjoy the benefits of highly developed engineering available in the market without having todevelopthem. Finally, the opening up of trade barriers has made it possible for developing countries totaketheir local resources to the global market (Stief