Globalization is the integration of world economies through free trade. It sounds all good, but there are some problems, advantages and disadvantages, and more products but also with more inequality. All around the world, globalization is bringing positive and negative effects. Let start with the good things about globalization.
Advantages of Globalization.
Globalization brings chances to those developing countries all around the world such as Afghanistan, Ethiopia, El Salvador, Belize, Bolivia, Zimbabwe, etc. by giving them the chance of exporting some of their goods to other countries, also by exporting their companies to those developing countries and creating more jobs to those who need it. |
Competition in the world market could lead any country to expand its goods (productions). The United States is literally made out of foreign products (goods). Countries can use globalization in a good way and invest some money or goods with others countries or companies. for example, U.S. send the majority of its good to foreign counties to be made for the simple reason that it is cheaper to pay foreign workers than paying to American workers. |
Disadvantages of Globalization.
Globalization just as it has its positive effects it also has negative effects like unfairness and inequality between the developed and the developing countries. For example, there are many countries that are rich in goods but they have the necessary capital to make use of those good in a wise way, so the developed countries, who have the capital, take advantage and take/buy those good for the minimum payment. Africa, rich in gold, sell it cheap to satisfy their needs. El Salvador, Honduras, Guatemala, countries rich n agriculture and textile sell their products to the United States also very cheap just to satisfy needs. Many other countries all around the world are rich in many different goods and they still are in the list of the poorest countries in the world and the cause is because they do not have the necessary capital to take their goods by themselves and make them value. |