In my opinion, globalization has both positive and negative aspects. First of all, the most obvious advantage that the globalization brings about is that goods (such as car, laptop, smartphone, etc.) produced in one country can be sold in other countries .For the developed countries, now the can easily export their products and services to other countries to earn money. And for the developing countries, it can create opportunities of employment and reduce poverty, which is very good for the economy. The next positive aspect which is taken into consideration is that the developing countries now can receive sources of capital, new technologies from developed countries, which is very essential for the growth of a country.
There are so many advantages that globalization brings to developing countries like free trade, technology transfer and reducing unemployment. Trade liberalization is an economic type that countries can import or export
Social globalization describes an exchange of values, ideas and it has facilitated the promotion of equality, dignity and human rights. Finally, the major effect of globalization is produced in the world economy. The aim of globalization is the growth of the global economy by giving firms a superior competitive position with lower cost through free trade and by increasing the number of consumers, products and services. Some people said it helps developing nation-states to “catch up” the industrialized ones and it improves the overall standard of living. Nonetheless, there is a risk for smaller companies that cannot compete in an international market and world governments should promote international investments and try to eliminate barriers to trade even if it causes them some
Though protectionism has a lot of advantages but in long term protectionism has many dark aspects as it specifies the trade of the country whereas free trade opens the barriers of the trade which welcomes international investors an firms to invest in country that helps in increasing the economy of the country. At present stage Pakistan needs protectionism as it has growing industry but after few time it should open the trade for all of the countries. In nutshell, both of the thoughts have their own advantages and disadvantages according to the conditions and circumstances. Till a specific time of progress a country should follow the protectionism and then it should follow the free trade. In order to
Because some people argue that globalization help poor countries to become economically good state & make their living standards improve ,while others arguing that the creation of the free market concepts enable developed countries to make more money at the expense of poor countries resources, labour & cultural unbalances. So some part of the world helping globalization concepts & others resisting the concepts of globalizations, Actually most of them trying to see a balance between pros & cons of the globalization for example governments trying to manage the trading concepts based on the governmental objectives by creating new
Defining a nation's trade relations with another country Trade relations for every state are vital because they are a fundamental part of their economic development, where we can see the capacity of each country that has to diversify and maintain stable relations with their partners. More than trade nations I would say international trade, which it's the country's willing to sell and buy products with each other to have better productivity and cost. Most of the economist agree that trade between nations makes the world a better place because in some countries some things cannot be produced, but they have a lot of other, in this way people can enjoy products from other countries. Nowadays there is an International Trade Organization (WTO) charged with monitoring fair trade between countries. Which has several functions among them, in almost any misunderstanding between nations that are exchanging products, serves as a jury and tries to resolve it through negotiations and in the most extreme case that these cannot be determined, can impose sanctions on the country that does not is complying with international trade
Some economies have much more than others, while other economies are struggling. The Trans-Pacific Partnership is an idea that may help improve economies around the world. The main purpose of the Trans-Pacific Partnership is to boost trade among the agreeing countries and expand jobs and opportunities to these countries as well. Many businesses in countries who have signed this agreement have already begun building facilities in the other agreeing countries. This creates new job opportunities, which in turn can boost the economy through trade and improving poverty levels.
Globalization allows the MNCs to freely produce and move goods and services in the international markets worldwide. Globalization had encouraged developing countries to make vital changes through large loans from the World Bank and had persuaded market reforms through the International Management. This led to the removal of tariffs and freeing economies of various developing countries. The developed countries now had the opportunity of investing in the developing nations, producing job opportunities. For example, Swift growth in India and China decreased world poverty.
Globalization is right for sure countries, along with the ones within the evolved world or global North where wealthy countries just like the U.S., united kingdom, and Germany can sell extra products and items to new markets inside the global South or poorer nations which include the Philippines and Indonesia. Globalization plays a vital function in presenting no longer only products and services but also method of living and the manner of boom and improvement. the following are some of the monetary benefits of globalization in connection to overseas groups: • Reduces worldwide poverty via imparting work to people. • Contributes to the spread of era by way of introducing new techniques of development. • Provides to the profitability of companies and agencies via earnings and global income.
Even the international companies bring considerable economy growth to developing countries such as technology transfer and job opportunity. Nevertheless, the multinational corporations also bring problems to developing country like harm human right. However, it is believed that multinational companies bring advantages morn than disadvantages. The developing country should increase the economy in the short term because competed economy can enhance competitive strength in the world and ameliorate the life of developing country people such as using additional finance develops capital