Globalization has brought about more positive economic impacts than negative ones. To what extent do you agree with this statement?

In today's world, globalization has a large impact on our society and on the economy. It is believed by some part of the population that

this

development has brought more advantages than drawbacks.

Firstly

,

this

essay will discuss

benefits

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the benefits

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of foreign trade and,

secondly

, it will analyse

increased

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the increased

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competition.

To begin

with, on the one hand, globalization means that different regions can export their production to other areas and increase their gross domestic product since export is one of the components of GDP. The main reason for

this

is that not only do some regions have a lack of

a

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specific food or resource but,

furthermore

, the price

level

for products bought from abroad might be lower and more affordable.

Therefore

, a country can increase exports by promoting

a

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high quality and reliability and

this

, in turn, will

rise

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raise

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their GDP and stimulate economic growth.

For example

, recent research has shown that

a

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foreign trade has increased by 20% in comparison to the

last

decade.

Moreover

,

this

tendency is likely to

rise

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raise

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tension in the market since businesses will have to compete in order to keep their customers loyal to their brands.

This

is due to the fact that if a firm has a lot of rivals that could take its clients, it will try to be more efficient in order to improve the quality of its goods or services or to lower the price

level

.

As a result

, not only will it stimulate firms to be more productive but

also

it is likely to increase people's confidence and satisfaction from purchases.

For instance

, economic analysts consider that a high

level

of competition in the market is the main stimulator for businesses to improve and become more efficient. Eventually, to conclude, I agree with the claim that globalization has more benefits than disadvantages.

This

is because of the fact that not only does it encourage trade between countries and continents but

also

it increases the

level

of competition between companies.