I am convinced that globalization provides many benefits for us as individuals but also for every country in the world. Many professionals, economists and politicians align that the process of globalization is a huge benefit for economies worldwide. Through this process different trade markets are getting more competitive but also efficient at the same time. It balances the unequally between different countries and prevent eventually some military conflicts. The Milken Institute’s Globalization of the World Economy reports that even if there are many benefits regarding the globalization, there are still several risks which should not be underestimated by investors or governments.
Globalization and me: what impacts could it be? According to Word Power Dictionary, globalization comes from word globalize which means develop (business, society, etc.) so as to make international influence or action possible. Other than that, globalization can be define as the increasing connectivity and interdependence of the world’s economies, societies, and cultures because of advances in communications, technology, trade, international investment movement of currency, and migration. In my opinion, technology is the big roles or function that brings the globalization.
This process makes the competition for the domestic manufactures, industries and encourage high rate of efficiency. The China’s government supplied some more ways in which to develop its domestic and foreign investment. Conclusion: In point of fact, globalization provides the world opportunities for developing countries to keeping up with the altering world out of their origin homeland. As well as that globalization helps developing countries to cope with rest of the world enlarge their economic development, find a solution for poverty problems in their country. However, it has made the connection between developing countries and developed countries stronger, it made each country rely on another country.
Few argue that the present model of globalization has increased the problems of unemployment, inequality and poverty, while others contend that globalization helped to reduce these aspects. The goal of globalization is to meet the need of people thereby increasing their standard of living, freedom and liberty and thereby a prosper life. But today, globalization has increased the gap between rich and poor and has lead to the marginalization of certain sections of the
‘’Globalization is a widely and somewhat loosely used term intended to describe the recent and rapid process of intercontinental economic, social, and political integration. This worldwide integration allows people to communicate, travel and invest internationally, and helps companies market their produces widely, acquire capital human and material resources more efficiently share advanced technology, and enjoy economics of scale. While many benefit from globalization, others are hurt economically, some cultures may be harmed, and local environments may suffer.
This is because globalization requires a macro economical system and a political stability in order for growth to take place. Currently a country’s deficit or surplus in terms of trade has no huge economic impact since globalization has made it possible for suppliers and customers from different parts of the world to transact. There has also been a massive displacement of communities and jobs as a result of globalization, which has resulted to several environmental impacts.
Globalization has been often described as the growing interconnectedness of ideas, economies, cultures and people from all around the world. As nations around the world continue to modernize and adopt new technologies, they are undeniably becoming more and more intertwined with one another. The outcomes created through this process have subsequently spurred controversial debates on both sides of the spectrum. While many individuals perceive globalization as beneficial process, others have argued that this process should be approached with great caution. A plethora of arguments and evidence have been brought about through this discourse supporting both advocates and opponents of globalization.
The ability for countries to cooperate could lead to new jobs, workplaces, culture, more money and ideas (Denton). Lastly, another pro for globalization is it allows for less expensive products for American consumers to purchase. This is due to cheaper labor throughout production processes. Reduced prices lead to American living standards to
2. Globalization brings more benefit than harm and should therefore be encouraged Globalization is not a new thing. Thousands years ago, people have been buying from and selling to each other places at far distances, for example, the Silk Road across Central Asia which was connected China and Europe during the Middle Ages. The globalization has been moving at a faster pace since 1980 and today it is easier for people and companies to communicate with other countries in the world. Globalization is the development of worldwide economy in which resources and products move fairly across national borders.
Thanks to globalization technology has travelled all over the world to help people have easy access to information. Information can be accessed easily and freely through the internet, mobile phones, television and other devices. Globalization has increased the economic right for people worldwide especially in the developed world. There has been an increase in the standard of living of many people hence healthy lifestyles. However in my opinion, globalization has done more harm than good to the people of the world especially people in the developing world.