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

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,

globalization

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

Besides

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

globalization

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has numerous advantages.

Firstly

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,

countries

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

Secondly

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,

globalization

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integrates the

world

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economy,

therefore

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

This

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

countries

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but

also

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benefits the more developed

countries

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by providing cheap and crowded labour.

For instance

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,

countries

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such

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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

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, we cannot deny the detrimental effects which are derived from

globalization

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

world

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

then

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invaded many

countries

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in the

world

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in just a few months.

Furthermore

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, ‘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

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is not an exception.

Therefore

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