Globalization is believed to benefit nations, making people closer, as well as business and states. Those who tend to criticize it are staying in the way of progress. I would say, there are pros and cons of globalization, which I am going to cover in this essay.
For many countries the process of globalization has become inevitable, as it is an essential part of today life. Most of developed countries are benefited by increased economy rates, improved trade and foreign investment, globalization also favored employment situation, creating new work places, especially in developing countries, because many companies move to the countries with lower taxes. Improved trade lowers the cost of products, making them more affordable for locals. For example, thousands of people in Bangladesh are working for international companies making jeans, sneakers, other clothing.
However, there are there are disadvantages. Economists say, that globalisation benefits more developed countries, increasing the amount of wealthy people, moreover, in developing countries the gap between poor and rich citizens is widened. Manufacturing usually moves to the developing countries, lowering average salaries. Greenhouse gas emissions are raised due to the increased amount of flights and soared shipping, leading to environmental problems, especially in poor countries. Cultural diversity of nations is getting lost while people are moving continuously here and there.
I reckon, globalisation has become a kind of natural process already, that’s why it’s unreasonable to deny its impact. We should put more effort topreserving cultural traits of various nations, pay more attention to poor people, who suffer from the whole process the most. Authorities have to evaluate all the risks for poor people, nature, local culture.
In conclusion, globalisation process have lot of advantages, which make people’s life better, boosting economy, creating new work places, as well as disadvantages such as threatened envirinment and lowering income of locals. There should be rational review of all the cons and pros and consequences for all categories of people.