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

Along with the development of the whole

world

,

globalization

is becoming a widely used term and contributing significantly to the global economy.

Besides

its countless benefits, it is necessary to be aware of the devastating effects as well. On the one hand,

globalization

has numerous advantages.

Firstly

,

countries

in an economic union are exempt from tariffs on imports and exports from other members in the same union.

Secondly

,

globalization

integrates the

world

economy,

therefore

, persistently increases new markets, which attracts foreign investments and creates more job opportunities.

This

phenomenon not only contributes to the overall reduction in unemployment rates of developing

countries

but

also

benefits the more developed

countries

by providing cheap and crowded labour.

For instance

,

countries

such

as China and India, with overpopulated workers, had once struggled with economic enhancement, are becoming wealthier when lots of international corporations move to nations.

On the other hand

, we cannot deny the detrimental effects which are derived from

globalization

. As global transportation has become easier and faster, deadly diseases can easily spread all over the

world

in a short period of time. As an example, consider the Covid-19 epidemic, which began in China

then

invaded many

countries

in the

world

in just a few months.

Furthermore

, ‘brain rain’ is becoming a common phenomenon as many workers have gone overseas to acquire better skills and look for job vacancies and they have not returned to their home country. In conclusion, I believe that everything has its benefits and drawbacks, and

globalization

is not an exception.

Therefore

, every country’s government has a responsibility to keep a balance between its pros and cons.