Even though globalization affects the world economy in a very positive way, it's negative side should not be forgotten discuss both view and give your opinion

In today's era, due to

globalization

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, the whole

world

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has become a global village. The

world

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's

economy

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is affected positively and adversely by

globalization

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.

This

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essay will discuss

firstly

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, the positive influence of it on the

economy

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of the

world

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and the negative effects of

globalization

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in the

second

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passage. There are some plus points of

globalization

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on the

world

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's

economy

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.

First

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of all, it encourages multinational companies to trade in different countries which directly affects the

economy

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of the

nation

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as well as the

world

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. To explain, global companies are the source of employment, which may help individuals to get jobs.

As a result

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, individuals can earn a decent amount of money and pay taxes, which leads to the growth of the country's

economy

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.

For example

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, in a country like India, nowadays, many start-ups provide thousands of job opportunities to the citizens.

As a result

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,

this

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can be affected positively on the progress of a

nation

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. Coming to the negative impacts on the global

economy

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, sometimes the high presence of global companies in any corner of the

world

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influences negativity on the domestic market.

In other words

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, if international factories start their business in any

nation

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,

then

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they would be a reason for the decreased demand for local products, which participation is significant in the

economy

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of a native

nation

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.

For instance

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, in China wherein

globalization

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destroy the local market in recent years.

Consequently

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, the

economy

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of China is going down. To conclude, there is no doubt that

globalization

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has positive influences on the progress of the

world

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, but we do not forget its negatives on many countries' economies. In my opinion, the government should make some rules by which adverse effects on the

economy

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of the

world

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can be mitigated.