Discuss the Advantages and Disadvantages of Globalization for Caribbeancountries

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Shezelle MohammedU6BCaribbean Studies

TOPIC: Discuss the advantages and disadvantages of globalization for Caribbeancountries.

Globalization is the growing interdependency between nations that results fromincreasing free trade and free movement. This move to encourage free trade is onedimension of the globalization process

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In today's world and even years ago, countrieshave been trading with each other and people from different parts of the world have beenin contact and have made links with others elsewhere. While there are advantages of globalization for Caribbean countries, there are also its disadvantages. These advantagesincludes encourages foreign investors, increased jobs, increases specialization in goodsand services, economic growth, foreign competition forcing domestic producers to bemore efficient and advanced technology. However, the disadvantages include;competition which may lead to unemployment, exploitation of our resources andenvironmental consequences.Caribbean countries attract foreign investors as they are aware of our naturalresources. For example, Trinidad and Tobago is well known for its natural oil and gas.These foreign investors come to our countries and provide foreign exchange as well asrevenue which the government receives. The taxeGlobalization is the growing interdependency between nations that results fromincreasing free trade and free movement. This move to encourage free trade is onedimension of the globalization process

.

In today's world and even years ago, countrieshave been trading with each other and people from different parts of the world have beenin contact and have made links with others elsewhere. While there are advantages of globalization for Caribbean countries, there are also its disadvantages. These advantagesincludes encourages foreign investors, increased jobs, increases specialization in goodsand services, economic growth, foreign competition forcing domestic producers to bemore efficient and advanced technology. However, the disadvantages include;competition which may lead to unemployment, exploitation of our resources andenvironmental consequences.Caribbean countries attract foreign investors as they are aware of our naturalresources. For example, Trinidad and Tobago is well known for its natural oil and gas.These foreign investors come to our countries and provide foreign exchange as well asrevenue which the government receives. The taxes such as corporation and direct taximposed on licenses fees are very helpful to the Caribbean countries. Consequently, bygenerating additional revenue, the government can improve public services such as healthcare to citizens which in turn improves their standard of living.Globalization provides increased job opportunities from these industries.