The advantages and disadvantages of globalization

Even though globalization affects the world’s economies in a very positive way, its negative side shouldn’t be forgotten. Discuss.

Globalization is such a commonly d duration in the twentieth century. It simply means that the world has become integrated economically, socially, politically and culturally through the advances of technology, transportation and communication. It’s undeniable that globalization has resulted in both positive and negative effects which should be addressed accordingly.

To start with, globalization has contributed to the world’s economies in many favourable ways. The advances in science and technology have allowed businesses to easily cross over territorial boundary lines. Consequently, companies tend to become more productive and competitive thereby raising the quality of goods, services and the world’s living standard.

Secondly, several companies the more developed countries have already ventured to set up foreign operations or branches to get advantage of the low cost of work in the poorer countries.

This kind of business action will allow more inflow of cash or investment funds into the less developed countries. However, one cannot deny the negative effects which have derived globalization. One crucial social aspect is the risk and danger of epidemic diseases which can easily be spread as the transportation becomes easier and faster in today’s advanced society. This is evidenced in the recent birds flu sickness which has infected most Asian countries over a brief period of time. As large corporations invest or get over many offshore businesses, a modern form of colonization will also evolve which may pose certain power pressure on the local governments of the less developed countries.

Unemployment rates in the more developed regions such as Europe may also exacerbate as corporations select to outsource to the cheaper work force Asian countries. In conclusion. I love to reiterate that globalization is inevi and we should urge individuals, companies and governments to a more balanced approach by taking the appropriate steps to deal with matters relating to the financial or economical gains verses the social, political or ecological concerns of the world.