International Business: The New Realities, 5th Edition

Societal Consequences of Globalization

1. 2.6 Understand the societal consequences of globalization.

Our discussion so far has highlighted the far-reaching, positive outcomes of globalization. Major advances in living standards have been achieved in virtually all countries that have opened their borders to increased trade and investment.22 Yet the transition to a global marketplace also poses challenges to individuals, organizations, and governments. Low-income countries have not been able to integrate with the global economy as rapidly as others have. Poverty remains a major problem in Africa and in populous nations such as Brazil, China, and India.23 Let’s consider some of the unintended consequences of globalization.

Contagion: Rapid Spread ...