Globalization Enhances the Influence of the Multinational Corporations Essay

Globalization Enhances the Influence of the Multinational Corporations - Essay Example Globalization is detrimental to the health of the residents, culture and environmental safety of the developing countries. Moreover, a greater opportunity for economic exploitation is provided to the multinational corporations by the process of globalization. The third or developing world is exploited by these entities to a major extent. The preference for undeveloped regions is due to the fact that environmental and other laws can be circumvented easily (Smith and Doyle).   Another, benefit that the developed world enjoys in such regions is that it can impose its culture, lifestyle and other characteristics of its society.  In addition, the environment of a third world country where a multinational corporation commences operations undergoes significant damage. However, such damage is ignored by these countries, because of the substantial wealth that flows into the country. Globalization induces the multinational corporations to foray into nation after nation of the third world. These initiatives are prompted by the search for cheap labor and resources. In addition, to exploiting the resources and manpower of these countries, the multinationals interfere and influence the policies of the country   (Smith and Doyle). Thus, a congenial atmosphere for exploitation by these corporations is ensured.It should be clearly borne in mind that the power of the multinational corporations is ubiquitous, and they wield vast influence over the international bodies, such as the World Bank, International Monetary Fund and the European Union.