Globalization has both positive and negative aspects. Supporters of globalization defend the process as a logical expression of capitalism, able to increase efficiency and spread new technology and ideas through the removal of trade barriers. They argue that the resulting free flow of capital will aid in the enhancement of the global economy and raise the economic status of the world's poorer countries. Critics of globalization, however, claim that it only serves to create greater inequalities. Free-market economies rise at the expense of local, indigenous economies, with critics citing the success of core, developed countries without the free-market economic model to argue against its necessity.
While globalization can result in the loss of indigenous culture, the result is an increase in a country's wealth and success. With the success of economy and trade comes negative aspects, such as the sex trade, prostitution, and pornography. This balance between the positive and negative effects of globalization can be seen in Thailand. The economy was boosted in 2011 when Japan flooded central Thailand with the international automobile and consumer electronics industries. As a result, the region became a highly global manufacturing center, rapidly exponentializing the country's economic growth.
Thailand automobile manufacturer |
Rowntree, Lester. Globalization and Diversity: Geography of a Changing World. Upper Saddle River, NJ: Pearson Prentice Hall, 2014. Print.
"Thailand's Auto Industry Gets Boost From Board of Investment (BOI)." 18 June 2014. Web. 13 Nov. 2014.
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