What are the advantages and disadvantages of globalization? Do the benefits outweigh the drawbacks?

Globalisation has been one of the most significant phenomena in the

last

few decades, and it has changed several aspects of human society both economically and socially. There has been remarkable progress in terms of economic and financial development for developing communities due to the expansion of global organizations.

However

, there are several drawbacks to

this

rapid progress that need to be addressed. Evidently,

globalization

has more advantages than disadvantages and the following paragraphs, will elaborate on the topic and justify these views.

First

of all, the most advantageous aspect of

globalization

is the advent of numerous international companies and franchises in developing countries. Ever since global brands and corporations have expanded their operations in countries

such

as India, China, Sri Lanka and many more, there has been a notable increase in employment in these countries.

Additionally

, due to the remarkable rise in the number of imports and exports, people from

the

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third

-world regions now have access to a vast catalogue of products and services that were previously unattainable. That being said, there are drawbacks to

globalization

that create concerning issues for a sizeable portion of the global population. One of the most disturbing consequences faced is the exploitation of labour. Many corporations are known to outsource their operations to developing societies due to cheap labour costs.

This

enables them to accomplish their manufacturing operations without having to provide proper remuneration.

Also

, due to the use of inexpensive labour, the quality of products is diminished, and customers receive inferior products. In conclusion, there is no doubt that the effects of

globalization

are not entirely positive or negative.

Nonetheless

, the benefits brought by

this

occupation outweigh the drawbacks.