Advantages and Disadvantages of Globalization

Introduction

Globalization involves international integration, which stems from the interchange of worldviews, products, culture, and ideas. The main factors of globalization are advanced telecommunication and transport infrastructure and massive usage of the internet as a way of communication. Today, the advantages and disadvantages of globalization stem from how this phenomenon affects the lives of global population. Most people embrace globalization because they are aware of the benefits it has to their country and the world in general.

While globalization benefits the developed and developing world, the First World countries benefit greatly from this international integration of economy. Rich countries like the United Kingdom, Germany and the United States have an opportunity to monopolize the world and sell their products in developing countries. In fact, it is possible for local and upcoming businesses to crumble because of the manipulation of the market by multinationals, which set the rules of the game. Culture is also at risk. In the modern world, everyone is turning to Hollywood and emulating the lifestyle of stars.

Advantages and disadvantages of globalization

It is doubtless that globalization is two sided. When a country benefits from global integration of economy, another one in the Global South is suffering. Thus, the advantages and disadvantages of globalization are real and transcend all the countries of the world. Let us address some of these effects:

The first advantage of globalization is creation of employment to millions of jobless people in the world. Corporations target well-civilized host countries with the aim of creating jobs for people languishing in poverty. In addition, with globalization, people migrate with a lot of ease from one country to another looking for greener pastures. Employment improves people’s living standards, as they are able to meet their basic needs and lead a decent life with the income.

Secondly, globalization has promotes education. With globalization more people are going to schools and joining institutions of higher learning to get specialized training in different fields. With education, globalization is empowering the world population. For example, many people earn their living from their professional skills acquired through education. Today, the number of students in foreign colleges and universities has gone up in every country. This has largely benefited developed countries.

Economic benefits of Globalization

In discussing the advantages and disadvantages of globalization, it is important to focus of all the sectors of the economy. This gives a fair and overall view of global integration. In the modern world, perhaps one of the greatest benefits of globalization is trade. Globalization has opened up foreign markets for goods and services. Today, there are limited trade restrictions, which allow countries to do businesses with other nations around the world.

Besides promoting trade, globalization has led to improved quality of products. Since the onset of international trade, there has been continuous competition among manufacturers. No singer player dominates the current market. It is possible to find a single product with over a hundred options. This gives consumers the freedom to choose and get the best in the market. For the manufacturers, they have no otherwise but beat competition with superior products. With these varied options, prices are also relatively low for most products on the global market.

Harmful Effects- Advantages and disadvantages of globalization

While globalization guarantees a world of opportunities, it has its flip side. For example, globalization is the number one threat to our culture and social identity. With time, no one is embracing the traditional way of doing things. The world is adopting a global economy where everyone is emulating the other.

Secondly, globalization is a major cause of environmental pollution. Most companies investing all over focus on exploiting natural resources without conserving the environment. Consequently, issues of land degradation and deforestation are common.

With growth in information technology, the level of security threats is up in the sky. Criminals like terrorists have new and advanced ways of causing havoc and evading security officers. Today, Smartphones and massive use of the internet expose us to cyber crime, bullying and identity theft. Thus, one must consider the advantages and disadvantages of globalization before taking a stance on the impact of international integration.

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References:

http://apecsec.org/advantages-and-disadvantages-of-globalization/

http://occupytheory.org/advantages-and-disadvantages-of-globalization/

http://www.buzzle.com/articles/advantages-and-disadvantages-of-globalization.html

http://www.economicsonline.co.uk/Global_economics/Globalisation_introduction.html

 http://www.english-online.at/economy/globalization/advantages-and-disadvantages-of-globalization.htm