Globalization has brought about more positive economic impacts than negative ones. To what extent do you agree with this statement?

Globalization

is the state of sharing and exchanging goods, knowledge and economy between the whole world,

thus

connecting people from distinct regions and various cultures. In my opinion, despite all the positive impacts, it might have some drawbacks. To commence with,

globalization

provided an opportunity for companies to share their inventions, and countries to export their local products,

hence

developing their profits. In fact, the international earnings overweigh the national gainings,

therefore

, corporations tend to invest internationally rather than locally.

For instance

, Starbucks is the most known coffee shop,

although

it serves coffee as thousands do, it expanded its shops all around the world and became popular among the community.

Moreover

,

globalization

allowed the spread of medical and scientific research,

as a result

, people living in developing countries can access the same level of medical treatment available in urban ones.

On the other hand

, the domination of international corporations on the small local ones resulted in detrimental effects,

consequently

, thousands of workers lost their jobs and small businesses go bankrupt. Indeed,

this

might lead to the deterioration of the local economy and increases the unemployment rate among the population. To illustrate, recent research showed that 20% of the local companies are shutting down yearly due to their massive losses. To sum up, it is known that

globalization

connected the world in all aspects

such

as education and the economy.

Although

it resulted in rapid evolution and benefits, it resulted in some unpleasant consequences.

Therefore

, countries should balance the benefits of

globalization

and the ones of their citizens.