Even though globalization affects the world's economies in a very positive way, its negative side should not be forgotten. Discuss.

In recent decades, there has been a widespread debate regarding how transnational influences the global economy. Many believe that globalization has boosted economic growth around the world, whereas others argue that it has had the opposite effect. I firmly believe,

however

, that it represents a great overage but the jurisdiction ought to have devoted more attention to the negative outcome. On the one hand, modernity affects our everyday lives in a variety of ways.

First

of all, it provides the opportunity for developing countries to gain a competitive edge over industrialized nations by collaborating closely with developed nations in the field of transportation. As an example, Viet Nam presently occupies a strategic position with giant multinational corporations in the realm of economics, which makes Vietnamese products available throughout the world through their quality and effective exportation.

Furthermore

, by promoting a global economy, modern technology advances, which makes it possible to produce large quantities of goods in a short period of time utilizing a range of skills.e of skills.

As a result

,

this

advantage becomes a significant contributor to the economic growth of a

country

.

On the other hand

, small and medium-sized establishments may be forced to close down

as a result

of the increasing competition from multinational companies, which will bring about

such

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tremendous damage to the gross domestic product of the

country

as a whole.

Consequently

, globalization poses the dilemma of exploitation

that is

common in countries where the cost of labour and taxes is low, and

this

may have devastating effects on a

country

's cultural heritage and traditions. It is believed that many luxury international brands have replaced local products as a consequence, resulting in

such

long-term effects on the

country

's traditional goods. In conclusion, even though there are many cons associated with

this

trend, I believe that the pros outweigh the cons. In the global village, as long as a strong bond exists between countries, the trend will represent in

such

an optimistic way, and the likelihood of conflicts will be reduced, leading to a better future for future generations.