Globalization Advantages and Disadvantages

What Is Globalization?

Globalization means increasing the interdependence, connectivity and integration on a global level with respect to the social, cultural, political, technological, economic and ecological levels.

Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. This process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical well-being in societies around the world.

Globalization is deeply controversial, however. Proponents of globalization argue that it allows poor countries and their citizens to develop economically and raise their standards of living, while opponents of globalization claim that the creation of an unfettered international free market has benefited multinational corporations in the Western world at the expense of local enterprises, local cultures, and common people. Resistance to globalization has therefore taken shape both at a popular and at a governmental level as people and governments try to manage the flow of capital, labor, goods, and ideas that constitute the current wave of globalization.

Arguments for globalization include the following:

It is reducing poverty worldwide.

It is allowing access to technology in developing countries.

It promotes world peace.

It has benefited women and children's rights.

It raises life expectancy.

Advantages of Globalization

Globalization has several advantages on the economic, cultural, technological, social and some other fronts

Advantages of Globalization

Goods and people are transported with more easiness and speed

the possibility of war between the developed countries decreases

free trade between countries increases

global mass media connects all the people in the world

as the cultural barriers reduce, the global village dream becomes more realistic

there is a propagation of democratic ideals

the interdependence of the nation-states increases

as the liquidity of capital increases, developed countries can invest in developing ones

the flexibility of corporations to operate across borders increases

the communication between the individuals and corporations in the world increases

environmental protection in developed countries increases

Effects of globalization

enhancement in the information flow between geographically remote locations

the global common market has a freedom of exchange of goods and capital

there is a broad access to a range of goods for consumers and companies

worldwide production markets emerge

free circulation of people of different nations leads to social benefits

global environmental problems like cross-boundary pollution, over fishing on oceans, climate changes are solved