AN ARGUMENT FOR AND AGAINST GLOBALIZATION

Meta description: Globalization refers to the relationship between countries. The interchange of products, technology, jobs, information access, cultures, and communication globally.

Globalization deals with international investment, trade, and finance. It aims at changing the world to a market-friendly economy, making it open and highly competitive.

Benefits of globalization

          Encourages and increases interactions among different regions and populations

Movement of products and services means that people also move. Interactions among the unique people and their cultures improve the relationship between countries.

          Spread of technology

Evidently countries remain constantly connected, therefore knowledge and advancements in technology travel quickly. 

          Improved market

Businesses profit from globalization, including new customers. Organizations look for adaptable and innovative ways to grow their market foreign. Via professional employer organizations, gaining workers in other countries becomes easy and quick.

          promotes the improvement of quality production and reduction in prices

Because the global market is competitive, high-quality products with reduced or affordable prices are preferable in the market.

Disadvantages of globalization

          benefits the wealthy countries

Because of an increase in export earnings, the less developed countries don’t match the quality and quantity of products.

          Negatively affects the environment

Globalization encourages the production of diverse products. This translates to the building of more industries and urbanization. These results in the production of waste like trash, smoke which leads to the creation of dumpsites, dirty oceans, and seas filled with plastics. The waters slowly acidify, creating health complications for humans.

          Widening inequalities in the distribution of wealth and income 

Many factors hinder the poor from accessing the benefits of resource movement. For example, matters of health have changed and many countries have adopted insurance policies which demand compulsory deposits of tremendous amounts of money. The same goes for the mortgage bills and the poor cannot afford.