Globalization

The interconnected network that ties countries together puts everyone at risk of economic trouble. If one country collapses, other countries may experience a ripple effect. The prices of oil around the world is connected to an international network. If a large supplier of oil (e.g. Saudi Arabia) slows down production, other countries may experience higher oil prices.

Globalization's large scale production causes an increase in carbon emission released, which speeds up the effects of
global warming, leading to an issue that is not only within the parameters of the industry, but worldwide. The 21st century has been seen the largest wave of globalization we have ever had. Global warming has only become an issue with the rise of globalization.

Avoiding great taxation is one of the greatest factors in which drive corporations in pursuing globalization, expanding to countries in which taxes are very low. This shifts taxation off of the corporations and more towards the consumers and citizens. Fast food corporations have been expanding extensively in gulf countries in the middle east due to the low corporation tax.

Large businesses originally create a wealth gap in developed countries, the rich gets richer and the poor gets poorer. However, worldwide globalization is viewed to have caused a worldwide wealth gap, since business have expanded in undeveloped countries as well. A relevant example of this is the expansion of cigarette companies in countries such as India, Brazil and Mexico.

Globalization creates a wider scale of choice due to the increase in the variety of products that a consumer may desire. People can choose the products they need or better from around the world. This has led to economic exchanges between countries.(e.g. We can buy things from all over the world on the internet or in the markets)

Globalization provides more opportunities for developing countries' products to enter the world market. It also helps to compensate for the undeveloped countries' markets. It is very beneficial for developing countries to learn from incoming international business.（e.g. Most small things like cheap t-shirts, cups are made in China, Vietnam or some developing countries)

Due to the large population of developing countries, excessive labor and low wages, foreign companies can provide employment opportunities and better salaries for excessive labor. As the employment rate rises, the whole society will become stable and harmonious, opening the door to economic development.（e.g. Japan introduced many foreign companies since World War II)