Globalization

Winners and Losers of Globalization                                         There are many different groups that benefit from Globalization. One main group is consumers who are given many privileges. These include:

• low cost goods and services
• a variety to choose from as they can shop online or in store
• increased competition between businesses which leads to price cuts
• consumers then get cheaper prices.
• consumers get what they want at more competitive prices
• internet allows consumers to browse online stores to find exactly what they want and at the cheapest price worldwide.                                                                                                                                                    Therefore Globalization benefits consumers as they are able to get what they want for cheaper.

Although consumers benefit there are still groups who are at a disadvantage like the local companies. 

Due to Globalization local companies have more competitors. This competition is created because of the differences in the cost of products and services.

Global competitors are at an advantage as they are able to outsource partnerships and then get there produce for cheaper from other countries such as china. Local companies do not have the resources to compete on a global scale and are therefore not able to form these global partnerships. This then causes them to be at a severe disadvantage in the pricing of there products and services. This then causes the small companies to lose customers and eventually go bankrupt. 

Therefore Globalization in the end can ruin local economies and put local companies at a major disadvantage.