Most people accept that we now live in a globalised world but not everyone agrees that it is beneficial. To what extent is globalisation a positive or negative development?

Globalisation is a phenomenon that has affected almost all of us in one way or another. The implications of globalisation affect our day-to-day life. Like every phenomenon, global too has its pros and cons. On the brighter side, global has made the movement of goods and services across the countries easier than ever before. It has benefitted trade and commerce and

this

in turn have led to the economic welfare of many. Increased prosperity and disposable income as well as direct international trade between individuals and organisations have led to an increase in international tourism.

As a result

of it, knowledge and understanding of foreign cultures and languages has risen exponentially. The advancement in information technology (simply use the full form here, unless you wish to reuse the acronym later.) Has worked as a catalyst in propelling

this

trend even

further

. Globalisation has

also

presented itself as an opportunity to the corporate world.

For instance

, it has allowed multinationals to form and operate in a number of different markets and

thus

augment their profits. But the flip side of the coin is that, albeit, globalisation has facilitated increased understanding of foreign cultures, it

also

has allowed dominant cultures to permeate original native cultures around the world. Influential (use synonyms and substitutions

instead

of reusing the same word) cultures have penetrated various local cultures worldwide in

such

a way that a lot of them are on the edge of becoming extinct or have mutated to a great extent.

Besides

, multinationals taking advantage of cheaper labour in emerging markets have contributed to a wide income gap between developed and developing nations. All the above points have led me to the reasoning that

although

, globalisation remarkably contributed in shaping the way we see our society today, it is not free from shortcomings.