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

In modern times, not only are all kinds of items available to everyone
as a result
of
globalization
, but exposure to language and education are
also
easier and more simple than ever. It is said that
globalization
promotes worldwide economies at the same time as it is believed that it has many negative effects. On the one side of the argument, there are many claims that
globalization
benefits the world’s economies in a positive way.
First
, it engenders numerous opportunities for multi-country collaboration. Several multinational companies with headquarters in industrialized countries have subsidiaries in underdeveloped countries.
As a result
, both sides are justifiably beneficial, and the citizens can experience a variety of new products.
Moreover
, less tax on goods is applied to export and import activities. Take Vietnam as an example, thanks to the open policy, Vietnam has relations of production with Australia in fresh fruits resulting in the increase in Vietnam’s GDP and the living standard is gradually improving. The nations’ relationships have developed, and they can easily maintain good relations with one another. Thanks to
globalization
, the economic gap between nations has reduced.
However
,
globalization
has detrimental consequences on our lives.
First
, it causes the unemployment rate to increase rapidly.
This
problem is accentuated by the impacts of
globalization
. More and more new products are becoming available on the market, giving consumers additional options.
Therefore
, the market has become more competitive between multi-corporation and local companies.
As a result
, people who are not well-educated are not qualified to work for these companies, which leads to unemployment.
Second
, no country can hide its discoveries and innovations from the rest of the world any longer. Nowadays, many products copy high-end brands and sell to consumers at high prices whilst the quality is poor. In conclusion, I believe that while
globalization
has many great aspects for the global economies, it
also
has a negative side that must be considered.
Submitted by thanhannguyen2209 on

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