In recent decades, globalization has increased over the world and this phenomenon brings a ton of benefits in various life sectors but some people believe its drawbacks take the lead. This essay will take the overview of it and discuss both the positives and negatives.
First of all, the positive advantage of globalization is fostering expansion of trading and commerce which is undeniable. International merchandise trade brings countries close tightly and has an impact on each other. Also making a significant revenue for countries which participate in international trade. Besides that, even more countries have joined in multilateral trade agreements that also help a lot of countries enhance their import and export by removing tariff and non tariff barriers. One more positive advantage is developing countries have a chance to approach cutting-edge technology by direct investment of some multinational corporation. For example, Apple has some factories in Vietnam which help a lot of Vietnam’s economy and Vietnamese’s working environment.
On the other hand, globalization also brings some negatives such as the loss of national identity. There is a growing concern that a world language can lead to this loss and their values also are in danger of erosion. For example, many younger people are affected and overshadowed by virtual values, forgetting traditional values and societal norms gradually. Moreover, internationalization is an indirect factor in creating an imbalanced world in which there is plenty of unfair competition.
In conclusion, globalization can bring one country to the new era of prosperity by growing the economy, giving a great chance to cultural exchange,.. But also negative consequences like losing national identity. And it is hard to assert which outweighs the other because it depends on individual looking views and opinions.