First we need to take a look at what globalization is before we can dive into what the ethical issues surrounding it is. Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. This process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical well-being in societies around the world (http://www.globalization101.org/what-is-globalization).
One ethical issue that can arise is discrimination of woman. For example, some countries do not see woman equal, so those countries may not want to negotiate or trade with companies from another country who has a woman in a management position. Another ethical issue is the unfair treatment of workers. Some countries do not treat their employees as fair as others.
Some make their employees work in extreme heat with no breaks and some even have underage minors working for them. Another ethical issue is language barriers. Language barriers can affect trade by setting limitations because not everyone speaks the same language. This can cause problems and ethical issues because some may discriminate against the countries that do not speak the same language as them. Some of the ethical risks and consequences associated with global business are unfair treatment of the opposite sex, laws of global trade being broken, and conflicts between nations.