The Negative Effects Of Globalization

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Globalisation is the process of increasing integration in world civilisation. It is known to be a new form of social organisation - an increasingly living in borderless world where flows of capital and new technology are propelling goods, information, people and ideologies around the globe in volumes, and at speeds never previously imagine. Globalisation is experience in all facets of life, either through politics, social or economics. To gain a greater understanding of how globally extensive these aspects configure our lives in our locality we need to examine the many ways our people in the pacific participate in and are impacted by these interconnections. The scope of this discussion will focus on the beneficial and adverse…show more content…
The greater globalization of the world economy is associated with benefits and adverse impact. The favorable transformation that have emerged under the economic globalization are ; greater free trade, greater movement of labour, increase capital flows, growth of multi- national companies, increase integration of global trade cycle, increase communication and improved transportation which reduces barriers between countries. These favorable aspects of economic globalization highlighted comes with adverse effect. In free trade it harms developing economies like the pacific island nations. They often struggle to compete with developed countries and the perception that developing countries need protection from free trade to be able to develop. PNG and other pacific nations are often disadvantage by tariff protection by western economies. The increase in the use of non-renewable resources has also contributed to the increased in pollution and global warming as environmental standards are not current or complied with. OK Tedi mining is one of the mining company that has caused a lot of damages to its environment .And for global warming its now real issue in the pacific…show more content…
(e.g. Ireland offers very low tax rate). This strategic investment decisions in lowering corporation tax has led to higher forms of other taxes. This is a reality in Papua New Guinea and also in the pacific where investors especially in mining sectors are given tax incentives or even tax holidays under the expense of ordinary citizen. The higher wages earn the higher salary wages taxes paid to the government by ordinary citizens. This is also led to the taxing of your life savings from Nas Fund and POSF, the two giant’s superannuation Fund in Papua New Guinea. The daily life of all ordinary citizens are factored to a tax regime call the goods service tax (GST) where very service that you receive a ten percent (10%) tax is paid to the government

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