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

These days,

globalization

is becoming increasingly popular across the world. Despite the benefits that

this

trend may bring to the entire country, I believe that its downsides cannot be denied.

Globalization

contributes substantially to the economic development of that country's civilian economy. In more specific terms,

globalization

confers competitive advantages on businesses by enabling them to source raw materials where they are less costly.

As a result

, the cost of manufacturing is reduced, which means that consumers have a more extensive choice of quality goods that correlate to a higher standard of living. With the advent of

globalization

, there is no redundant or insufficient supply of goods and materials between

countries

.

In addition

to China being a good example of

globalization

, it

also

allows companies to take advantage of lower labour costs in developing

countries

.

In contrast

, economists believe that

globalization

poses numerous risks.

Globalization

, as pointed out earlier, simply shifted employment opportunities from developed to developing

countries

, meaning that workers in the developed world must compete with lower-cost markets for jobs, potentially facing unemployment or low salaries.

Moreover

, it is

also

considered that

globalization

contributes to income disparity due to the resulting decline in the wages of unskilled workers.

Last

but not least, they

also

claim that

globalization

forces these

countries

to depend on others, leading to a serious impact if one country’s economy collapses. In conclusion, I believe that

globalization

has an irreplaceable role in the world, but we should not overlook its potentially destructive side effects. It is crucial that they are controlled by the authorities in order to minimize the negative effects of

globalization

.