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

It is a fact that the

world

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facing a rapid increase in consumerism than in past centuries.

Although

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globalization

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revealed positive effects on economic development, the negatives are

also

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to be considered for the better future of the

next

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generations. I am supporting to

this

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notion to an extent. The following paragraphs will explain the benefits and drawbacks of

globalization

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.

Firstly

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, the human population around the

world

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can only exist based on interdependence.

World

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leaders are always aware of

this

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and trying to cement trade links between various

countries

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which helps each other in the development of their economies.

For example

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, in the

world

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,summits team leaders are sharing their vivid opinions and it helps to increase better trade relations with the neighbouring regions.

Secondly

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,

globalization

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brings communities around the

world

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to explore and exhibit their culture and art.

For instance

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, movies made in Iran exhibited in Indian theatres create a wide audience and applause which helps to earn money and fame for the artists.

As a result

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, the relationship between the

countries

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becomes strong and in ,turn helps uplift the economy.

However

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, modernity has its own drawbacks when we compare the situation between rival

countries

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. The majority of trades are depending on better affairs among the people. Even though

countries

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are depending each other for crops and various raw materials, the sudden change in the atmosphere will affect the

world

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economy and leads to a financial disaster.

For example

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, the war between Ukraine and Russia leads to a hike in the price of oil and a shortage of wheat around the

world

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, because Ukraine is one of the largest wheat exporters in the

world

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. So,

globalization

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creates storm cloud gathering if it is not considered well among the

countries

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. To sum up, there are positive sides that are comprehensively marked regarding the economic development based on

globalization

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, but negative sides like war and other reasons which affect bilateral trade communication can worsen the situation.