Even though globalization affects the world's economies in a very positive way, its negative side should not be forgotten. What is your view? Discuss. Give reasons for your answer and include any relevant examples from your own knowledge or experience.

Globalization

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has benefited most of the countries.

However

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, everything has two sides,

globalization

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may

also

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have disadvantages. In

this

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essay, I will discuss both the pros and cons of

globalization

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in today's

world

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.

First

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of all,

globalization

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has greatly influenced the

world

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's economy in many positive ways. Most of the businesses are becoming increasingly international.

Globalization

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allows a free trade practice. With the unlimited export of goods, the market of a country will get larger. The unlimited import will

also

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allow citizens to have access to imported products.

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, with foreign investments in a country, a rise in employment will follow. No one can deny that the positive aspects of

globalization

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will help the countries' economy to prosper.

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, if more people will be employed,

this

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could result in a low poverty rate in the developing countries, like the Philippines. On the other end of the spectrum,

globalization

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may

also

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harm business industry of other countries that cannot compete for as much versus the multinational companies.

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, small business and medium scale establishments may have to close down.

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,

globalization

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can

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lead to unemployment and exploitation. Followed by

this

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, other companies may move to other countries where labour is cheap. Because of the

globalization

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, the traditional way of life and simplicity are getting washed away and people in developing countries are mimicking the western cultures which might lead to a devastating situation on a

countries

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country's

heritage and tradition. The locally made products are being replaced by the international brands and that has a very negative and long-term effect on a

countries

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country's

business growth. In conclusion, I believe that

globalization

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as a concept has noble intentions and is beneficial to countries that have developed fully and are ready to compete in the

world

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market.

Nevertheless

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, governments and companies should use a fair approach by taking appropriate steps for the country to become ready and to engage in a free trade economy around the

world

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.