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 world and 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

a

Change the article

the

show examples

benefit of foreign trade and,

secondly

, it will analyse the increased competition.

To begin

with, on the one hand, globalization means that different regions can export their production to other areas and bid up their gross domestic product since exports are one of its components. The main reason for

this

is that not only do some regions have a lack of food or resource but,

furthermore

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

Therefore

, a country can soar exports by promoting high quality and reliability and

this

, in turn, will raise its GDP and stimulate economic growth.

For example

, recent research has shown that foreign trade indicators have increased by 20% in comparison to the

last

decade.

Moreover

,

this

tendency is likely to increase 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 their 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.