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Globalization and its impact on the fashion industry?

Annie Barnes

in Student Loans

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Kristi Hammond on January 4, 2019

Globalists believe the economic growth that occurs as one of the effects of globalizationoutweighs its disadvantages. They expect that enough money and economic progress for the payment of any damage to the environment or to the small scale of the economy that could happen. It can also help improve the economies of nations with high levels of poverty, giving their citizens access to technology, clean water and city infrastructure that comes with economic business development. A theory of the effects of globalization suggests that global trade can increase worldwide financial instability. Because the globalization system means one country's economy can directly affect another country's economy through their mutual trade, the financial crises that originate in one country can become a global problem for all countries connected to it. The economic effects of globalization are generally positive for the countries participation in world trade, raising the per capita income of the citizens of these countries. In some countries, the rich gain more money, while the poor lose access to financial and natural resources taken by global companies. Globalization can help mega-corporations that may create environmental disturbances and pollution. Many believe that the economic growth that occurs as one of the effects of globalizationwill create enough revenue to clean up the environmental disasters that occur as a victim of the business. Still others believe that the corporations don't take responsibility for the cleaning. In the past, legal limits on the liability of companies for environmental damage caused by disasters like oil spills have kept large corporations from bearing the full financial responsibility for the cleanup of environmental problems caused by their company operations.


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