refers both to the compression of the world and the intensification of consciousness of the world as a whole.i¿½3
The implications of globalization have been widely discussed by economists, politicians and simple individuals with the same interest and it has been revealed that it influences both the host country as well as the home country. Among the effects upon the home county, one could point out:
Increase of customer palette for outsourcing companies
Increase of resources, both financial and non-financial, once again for the outsourcing companies
Increase of unemployment rate due to preference for foreign and cheaper workforce
Increase in the quality of the final product, being that it is manufactured by skilled personnel
Creates dissatisfaction and forces the population to become better trained and specialized or forces them to look for jobs outside the country
Reduces the economic strength of the country and increases its dependence upon foreign workforce and technologies4
But globalization also impacts the host country and can generate each and every one of the following effects:
The further deepening of the income inequality and the uneven distribution of wealth
Unfair work conditions imposed by the international powers which do not respect work labour conditions, such as minimum wage of working age
Difficulties in adjusting which could lead to numerous negative effects, such as an increasing unemployment rate5
Weakening of the national industries and local manufacturers due to increased exports
Growth and development opportunities due to the entrance of foreign investors
Better access to the latest technologies
Better training and qualifications of the personnel
A most significant aspect of globalization and outsourcing upon the hosting countries is revealed by i¿½creative destructioni¿½. This means that newer technologies and economies will come and replace the old ones. And in the proc...