Globalization can have negative societal consequences: 1. It can reduce national sovereignty as some corporations become more powerful than many nation states and influence governments. 2. Offshoring jobs to lower cost countries results in job losses in more developed nations. 3. It negatively impacts the poor by allowing low wages, exploitation of workers, and child labor. 4. It harms the natural environment by promoting increased manufacturing and economic activity that cause issues like pollution, habitat destruction and ozone layer deterioration.

1. Societal Consequences of Market Globalization Gamze Dalçiçek 10090991256

2. Consequences of Globalization Loss of National Sovereignty Offshoring and the Flight of Jobs Effect on the Poor Effect on the Natural Environment Effect on National Culture Negative Societal Consequences of Market Globalization

3. 1.Loss of National Sovereignty Sovereignty is the ability of a nation to govern its own affairs. One country’s laws cannot be applied or enforced in another country. MNE activities can interfere with the sovereign ability of governments to control their own economics, social structure, political system. Negative Societal Consequences of Market Globalization

4. 1.Loss of National Sovereignty Some corporations are bigger than the economies of many nations such as Wal-Mart Negative Societal Consequences of Market Globalization

5. Wal-Mart’s internal economy is larger than the GDP of most of the world’s nations, including Greece, and Polond Negative Societal Consequences of Market Globalization

6. Negative Societal Consequences of Market Globalization

7. 1.Loss of National Sovereignty Large multinationals can exert considerable influence on govertments through their economy. Negative Societal Consequences of Market Globalization

8. 2.Offshoring and the Flight of Jobs Offshoring is the relocation of manufacturing and other value chain activities to cost effective locations abroad. Offshoring has resulted in job losses in numerous mature economies. Negative Societal Consequences of Market Globalization

9. Negative Societal Consequences of Market Globalization

10. 3.Effect on the Poor Multinational firms are often criticized for Paying low wages Exploiting workers Employing child labor Negative Societal Consequences of Market Globalization

12. 4.Effect on the Natural Environment Globalization can harm the environment by promoting increased manufacturing and economic activity that result in Pollution Habitat destruction Deterioration of the ozone layer. Negative Societal Consequences of Market Globalization

13. 5.Effect on National Culture Globalization exerts strong pressures on national culture. Globalization can change people’s norms,values and behaviour,which tend to homogenize over time. Negative Societal Consequences of Market Globalization

14. People and natural environment are influenced negative consequences of globalization. Conclusion Negative Societal Consequences of Market Globalization