Question

Discuss THREE ways in which globalization has negatively impacted the Caribbean?

Answer 1

The Caribbean, due to its diminutive scale relative to the 'first world,' is at a disadvantage when it comes to globalization on the basis of trade, poverty and general inequality. The Caribbean has a small resource base, both in terms of expertise and natural resources; limited institutional ability in both the public and private sectors; small domestic markets inhibiting economies of scale; remoteness away from developed trade routes, making foreign transport very expensive, vulnerable to natural disasters; environmental fragility.

However, the West and its multinational companies (MNCs) have been known to manipulate the Caribbean region for their gain, and these nations are suffering severe poverty, human rights abuse and significant environmental harm.

In addition, several factories are operating in the Caribbean region, where individuals are paying below the minimum wage for their labor to manufacture clothing that will be shipped to the West. As a result of the creation of the Free Trade Zone, women are oppressed and subjected to sweatshop conditions.