Benefits Of Globalization

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Globalization refers to the cross-border flow of goods and capitals going through the stages of internationalization, partial internationalization and globalization. The internal flow of goods and capital is the uppermost modality of globalization, accompanied by the according locality, international economic management organizations and economy entities as well as international exchanges, collision, conflict and integration of cultures, lifestyles, values and ideologies. (Weng, 2006).
Globalization increases economic growth and generates a wider range of products and services.
The rise of globalization has created interdependent markets that highlight the pros and cons of leveraging foreign exchange. Many proponents of global business argue that mutual benefits derive from the global specialization of products and services. The general stance is that the benefits of globalization outweigh the economic and social costs by achieving higher efficiency and by providing GDP growth in underdeveloped regions. (Boundless, n.d)
Globalization offers many Benefits and advantages to the people and businesses. Just to mention are few, these include:
• Greater employment opportunities for people. (like Chinese providing job opportunities to the people by working in their shops)
• Availability of greater variety of goods and services to the consumers. (like Brian Bell, Best Buy and Papindo offering a variety of products and services)
• More competitive price to the competitors. (Like
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