German Members: Katharina R.; Stefan L.; Markus J.
• By a plunge in a country the stock markets around the world can plummet ‘cause of worries of weakening economiesFor Example: The plunge in China in February the 28th 2007• When a country needs money and has lend money to businesses of a country a few years ago, it could recall these loans and so that businesses would go bankrupt like the European businesses, which borrowed money from the USA
Another negative effect of the globalization is unemployment. For example Siemens produces most of their stuff in foreign countries like India but it´s headquarter is in Munich, Germany, but the workers in germany are unemployed because Siemens employs Indians, wich work much cheaper.
Negative effects:The job market suffers from globalization as big companies have to migrate to countries where they can produce cheaper and where the wages are lower.Another negative aspect is that a lot of people buy cheap goods that come from China, for example, and not anymore the local products and this is bad for the own companies.In less developped countries the workers have to do hard work for our so called cheap goods, but they aren't paid very well. That means they have to work under bad conditions so that we can buy cheap clothes, for example.It's also a problem that all countries depend on each other, if one country has a problem this will have an influence on the other countries as well.
A negative effect of globalization is that many people go unemployed. For example, when you call for customer service for some companies you are talking to people on the other side of the world just because it's cheaper to pay those employees.
I agree with Kathi that people buy things that come from China just because it’s cheaper and leave the products that were made in our own country aside and therefore Chinas economy is great while ours is not.
When companies ship their jobs to other countries for less pay is a problem for the country that is losing all the jobs. the unemployment leads to economic failure in the country.
Unemployment is a good negative effect. I agree with whoever said it. But not only would the unemployment rate go down, but if the country finds it cheaper to import goods, even if they are able to grow their own, then the products they are able to produce will go to waste. Like in Jamaica, even though they have cows and are able to produce milk, they are able to import powdered milk for cheaper. And for the people in Jamaica, there dollar is worth less than it is here in America. So if America sells a whole 10 pound bag of powdered milk to Jamaica, they are probably more likely to buy the powdered milk instead of their own milk which would probably be a lot more expensive to cover the expenses of taking care of the cow and making the milk. This is important because of the poverty in Jamaica.