Globalization

As soon as China and other countries joined the World Trade Organization, coal use began rising rapidly. We're burning through these resources a lot quicker because of globalization.

The larger demand might cause the prices of these resources to increase drastically.

If the world is burning through more coal rapidly, there will be a huge increase in global carbon emissions.

Globalization ties countries together, so that if one country collapses, the collapse is likely to ripple through the system, pulling many other countries with it.

Globalization caused a lot of countries to be dependent on imports/exports from other countries. Increased interdependence is bad because it makes countries reliant on the countries they import/export from. Vietnam for example relies heavily on exports from the US and Canada for coal and oil, and at the same time both these countries need places like Vietnam to export to (global economic recession).

Competition between countries

Globalization causes competition in exports between countries. For example Canada is the largest exporter of oil and petroleum to the United States and some countries from the Middle East, but there is competition from Saudi Arabia because sometimes they surpass the amount that Canada exports.

Empowered hatred & terrorism

Globalization allows countries to spread their knowledge, culture, religion and understanding worldwide. However, there are those who are unwilling to accept this social change and it empowers hatred and violence. ( Orlando shooting)

Cheaper Raw Materials

Globalization means that countries have access to raw materials from across the world, and therefore can select the most cost efficient options per material.

Country x only trades with
country Y for wheat but because of
globalization, they can now
trade with country n to get
the best price for wheat.

Increased Competition

The quality of the goods/services will increase as a result
of increased competition and the consumer will have plenty
of options.

Consumers in country x will now have
goods from country y and country n
available, meaning price will decrease
and quality will increase.

Increased Investments

Multi-national corporations investing in the country
can improve the economic situation of the country by
creating jobs for the locals.

A major corporation in country Y can invest in a
manufacturing plant in country x and it will create
jobs for the people of country x.

Free Trade

Countries can trade freely where they previously faced restrictions due to tariffs, this means more opportunities to build relations with other nations.

If country x wanted to trade with country n, they had to pay
fees for every import, but now without the fee, they trade
much more frequently

Cultural Improvement

The people who conduct this international business have the opportunity to learn and experience new cultures, and see how multiple countries have different practices when conducting business.

Leaders in country x learn from leaders in country Y
about business practices in country Y and learn about
their culture at the same time.