With the liberalization of trade, the influence of the corporate elite upon the global economy had increased tenfold. Because multi-national corporations are not beholden to the standards of any one particular government, they are able to maximize their profits by establishing a subsidiary in a country with no rules regarding the use of environmental toxins, minimum wage, or emissions standards.
Usually, these are among the world’s poorest countries, which are quickly becoming the most polluted causing damage to the residents as well as the local wildlife. It is commonly known in the sphere of business that the greatest concern that corporations have is maximizing profits for shareholders. As a result, many of the world’s most vulnerable populations have no other alternative than to eat genetically modified Franken-foods or face starvation.
In many nations with significant biodiversity such as the Amazon rainforest, enterprising lumber workers and farmers are destroying several acres of forest every second in order to become competitive in the growing produce market. While that would serve to create a significant source of food for an uncertain era, it is only temporary at best and will ultimately cause more problems than it solves. When a land is overly farmed and grazed, it will eventually turn into a desert wasteland, and there would be no way for the people to feed themselves once that happens.
Proponents of trade liberalization argue that their practices would end poverty around the world and produce the highest qualities of goods when protectionist strategies fail. However, in order to remain competitive every country in the world would have to turn its territory into a giant corporation and the world’s natural resources would eventually be depleted. Reference?? Carbaugh, R. J. (2004). International economics (9th ed. ). Mason, OH: Thomson/South-Western Educational Publishing.
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