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

, the whole

world

has become a global village. The

world

's

economy

is affected positively and adversely by

globalization

.

This

essay will discuss

firstly

, the positive influence of it on the

economy

of the

world

and the negative effects of

globalization

in the

second

passage. There are some plus points of

globalization

on the

world

's

economy

.

First

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

economy

of the

nation

as well as the

world

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

As a result

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

economy

.

For example

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

As a result

,

this

can be affected positively on the progress of a

nation

. Coming to the negative impacts on the global

economy

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

world

influences negativity on the domestic market.

In other words

, if international factories start their business in any

nation

,

then

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

economy

of a native

nation

.

For instance

, in China wherein

globalization

destroy the local market in recent years.

Consequently

, the

economy

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

globalization

has positive influences on the progress of the

world

, 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

of the

world

can be mitigated.