In: Accounting
The globalization of the production and distribution of goods
and services is a welcome development for many people in that it
offers them access to products that they would not otherwise have.
However, some are concerned that the changes brought about by
globalization threaten the viability of locally made products and
the people who produce them. For
example, the new availability of foreign foods in a market—often at
cheaper prices—can displace local farmers who have traditionally
earned a living by working their small plots of family-owned land
and selling their goods locally.
Globalization, of course, does more than simply increase the
availability of foreign-made consumer products and disrupt
traditional producers. It is also increasing international trade in
cultural products and services, such as movies, music, and
publications. The expansion of trade in cultural products is
increasing the exposure of all societies to foreign cultures.
And
the exposure to foreign cultural goods frequently brings about
changes in local cultures, values, and traditions. Although there
is no consensus on the consequences ofglobalization on national
cultures, many people believe that a people's
exposure to foreign culture can undermine their own cultural
identity.