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
facing a rapid increase in consumerism than in past centuries.
Although
globalization
revealed positive effects on economic development, the negatives are
also
to be considered for the better future of the
next
generations. I am supporting to
this
notion to an extent. The following paragraphs will explain the benefits and drawbacks of
globalization
.
Firstly
, the human population around the
world
can only exist based on interdependence.
World
leaders are always aware of
this
and trying to cement trade links between various
countries
which helps each other in the development of their economies.
For example
, in the
world
,summits team leaders are sharing their vivid opinions and it helps to increase better trade relations with the neighbouring regions.
Secondly
,
globalization
brings communities around the
world
to explore and exhibit their culture and art.
For instance
, 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
, the relationship between the
countries
becomes strong and in ,turn helps uplift the economy.
However
, modernity has its own drawbacks when we compare the situation between rival
countries
. The majority of trades are depending on better affairs among the people. Even though
countries
are depending each other for crops and various raw materials, the sudden change in the atmosphere will affect the
world
economy and leads to a financial disaster.
For example
, the war between Ukraine and Russia leads to a hike in the price of oil and a shortage of wheat around the
world
, because Ukraine is one of the largest wheat exporters in the
world
. So,
globalization
creates storm cloud gathering if it is not considered well among the
countries
. To sum up, there are positive sides that are comprehensively marked regarding the economic development based on
globalization
, but negative sides like war and other reasons which affect bilateral trade communication can worsen the situation.
Submitted by dilin1212 on

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