Several individuals state that globalization has positive consequences for good, cultural exchange, and economic development, whereas some deem it can diminish national identity and expand economic inequality. This essay will discuss both perspectives and subsequently propose my opinion.
Some people believe that globalization is beneficial for two main reasons. First, it can boost economic growth by promoting international trade and investment, particularly in developing countries. Entrepreneurs in these nations also have access to global markets, which allows businesses to widen, leading to jobs and opportunities. For example, Indonesia has developed its economic growth by about 40% because of cooperation with China in business industries. Second, it plays a significant role in promoting cultural exchange, meaning that people can share their traditions, art, and cuisine with others. As a consequence, they may experience and appreciate others, fostering mutual understanding and subsequently reducing stereotypes.
On the other hand, some argue that globalization has detrimental impacts on the erosion of national identity and local businesses. This is because advanced nations may possess the power to influence those who are underdeveloped countries through the dominance of global brands and Western cultures, which can overshadow local traditions and languages. To illustrate, many teens in Indonesia have been influenced and decided to learn other languages rather than their mother tongue due to the influence of Western cultures in social media, like Facebook and Instagram. This circumstance causes many local languages to experience extinction. Furthermore, local businesses also struggle to compete with multinational corporations since they may lack the skills and connections to support their businesses. Hence, it might create inequality for local businesses in which if they frequently face this situation, they can end up in bankruptcy.
In conclusion, although globalization offers advantageous effects on goods, cultural exchange, and economic development, it has negative points in terms of national identity and expands economic inequality. Therefore, I believe that despite being neither essentially good nor terrible, people must consider the impact of globalization on their nations and communities.