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.