What is globalization? Elicit the advantages and disadvantages of globalization

Globalization

is

such

a commonly used term in the twentieth century. It simply means that the concept of international integration, resulting from the interchange of trade, products, ideas and culture.

Although

globalization

brought countless benefits to most of the countries, it

also have

Suggestion

also has

negative aspects which need to pay attention carefully. And in

this

presentation, I will state both the advantages and disadvantages of

globalization

. On the one hand,

globalization

has contributed to the world’s economies in many beneficial ways. Productivity grows in countries that open up their markets and integrate with outside economies. Rich countries gain access to emerging economies. Poor countries gain access to wealthy economies where they can sell their goods and services.

Moreover

, the advances in science and technology have allowed businesses from developing countries to easily cross over territorial boundary lines. They can set up more branches in developing countries and underdeveloped countries to expand the company’s size, which can provide more influx of cash or investment funds into these countries.

Consequently

, many new jobs were created, the unemployment rate declined and poverty was

also

largely eliminated.

Moreover

, with the impact of

globalization trade

Accept comma addition

globalization, trade

and travel around the world have become easier, comfortable and easily accessible and each country is learning more about other cultures.

Thus

, the relationship between the nations has improved and nations can now easily maintain a friendly relationship with others.

However

,

on the other hand

, there

are

Suggestion

is

a host of drawbacks that

globalization

brings about.

First

of all,

globalization

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

Thus

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

As a result

,

globalization

can

also

lead to unemployment and exploitation. Another cited drawback is a cultural shock. Worldwide networks and televisions have severely affected young people. Without the supervision of adults, young aged persons nowadays can give access to detrimental information, images and videos from other culture through social media or satellite channels. They imitate their behaviours, clothes, etc., that it leads to misbehaviours among youngsters.

Additionally

,

globalization

can cause the spread of epidemic diseases because of faster transportation and an increase in the number of tourists.

This

statement can be clearly proved in the recent corona virus disease that has killed thousands of people all over the world. In conclusion, globalisation plays a major role in pushing economic and employment developments forward in developing countries.

However

, it

also

have negative impacts on industrialised countries and cause other problems.