essay on demerits of globalisation

30 Globalization Pros and Cons

Definition: Globalization refers to the increasing global interconnectedness of nations. It it not only economic integration. It also refers to cultural , technological , social , and political integration (Dincer et al., 2018). A good catch-all definition comes from Hodos (2016), who writes: “Globalization is defined as the process of becoming globally connected.”

Globalization Pros and Cons

The advantages of globalization, 1. increased economic growth.

Globalization facilitates technology, knowledge, and goods transfer, which in turn boosts economic growth (Erixon, 2018).

Through globalization, countries can now purchase the newest technologies and import the most productive machinery from other countries.

This means every country now has access to the most productive machineries, making the whole world more productive. Productivity means more output, which means more economic growth.

2. Cultural exchange and diversity

Globalization facilitates cultural exchange and diversity by increasing interactions among people from different parts of the world through trade, travel, and communication.

This exposure leads to the sharing of ideas, traditions, languages, and values across borders, enriching the cultural landscape of participating societies.

Such interactions often lead to the fusion of cuisines, music, art, and fashion, creating new, hybrid forms of cultural expression.

3. Improvement in global communication

Globalization is both caused by and a catalyst for the expansion of global technology and telecommunications. For example, the internet helps facilitate global trade, and demand for a fast and reliable global internet has stimulated its technological development.

The resulting interconnectedness allows for real-time communication across different countries, breaking down geographical and temporal barriers. The result is a more integrated world where cultural and professional exchanges occur more seamlessly.

4. Greater access to foreign investment

Globalization leads to greater access to foreign investment. With broken-down financial barriers, businesses can now source overseas investors for funds. This helps push down the cost of investment and stimulate local business (Erixon, 2018).

It’s also good for investors. They can diversify their portfolios by investing in different countries, and developing countries can benefit from foreign capital to fund growth and development projects.

This influx of foreign investment can lead to economic growth, technological advancements, and increased employment opportunities in the recipient countries.

5. Access to new markets for businesses

200 years ago, everyday small businesspeople could generally only trade with nearby communities. They had to get goods to market via horse and cart and anything perishable had to be consumed fast. There were no refigerators!

Today, with global supply chains, refrigerators, and free trade agreements, even small businesspeople have access to global markets.

Companies can therefore expand their operations and customer base beyond their domestic markets, tapping into demand in different countries (Erixon, 2018).

6. Increased migration opportunities

Globalization has opened up global labor markets. Nowadays, it takes less than 24 hours to move anywhere across the world. No more 3-month boat rides! This has allowed highly-skilled professionals to cross the world and get jobs exactly where there is market demand.

This mobility benefits migrants through better opportunities, the companies by linking them up with the best possible employees, and also contributes to the cultural and economic dynamism of the host countries (Dumont, Rayp & Willemé, 2012).

7. Reduction in prices of goods and services

Globalization leads to a reduction in prices of goods and services by allowing countries to specialize in producing goods where they have a comparative advantage, leading to more efficient production and lower costs (Mir, Hassan & Qadri, 2014).

The removal of trade barriers and the increased competition in global markets drive down prices, making products more affordable for consumers (Erixon, 2018).

Additionally, the global supply chain means consumers have access to a wider variety of goods and services from different parts of the world.

8. Increased competition leading to innovation

Globalization leads to increased competition because you’re no longer just competing with Bob down the road. Businesses are now competing with other businesses from the other side of the world (Erixon, 2018).

While at first this competition sounds bad, it tends to have positive effects. For example, it spurs innovation as companies strive to maintain their competitive edge in a global market.

The exposure to different market needs and technological advancements across borders encourages businesses to innovate and improve their products and services.

This competition not only drives technological advancement but also leads to better quality and diverse options for consumers.

9. Opportunity for developing countries to develop faster

Developing countries need foreign investment and access to foreign markets in order to grow. Globalization provides this access (Mir, Hassan & Qadri, 2014).

This exposure to global markets and capital can accelerate economic growth, create jobs, and promote infrastructure development.

Furthermore, the exchange of knowledge and best practices with developed nations can enhance the skills and capacities of the workforce in developing countries, leading to sustainable development.

10. Spread of democratic values

Some argue that globalization has led to the spread of democratic values. Arjun Appadurai calls this the “ideoscape” of globalization.

The global spread of media and the internet allows for the rapid dissemination of democratic ideals and human rights concepts.

We saw this, for example, during the Arab Spring of 2011, where activist groups multiple countries in the Arab world collaborated via social media to demand democratic reforms.

11. Global talent pool for employment

Globalization leads to a global talent pool for employment as businesses and organizations have access to a wider range of skills and expertise from around the world (Dumont, Rayp & Willemé, 2012).

Enhanced mobility and interconnectedness allow employers to recruit talent from different countries, enabling them to meet specific skill requirements more effectively.

This global workforce diversifies the workplace, fosters innovation, and enhances competitiveness by bringing together diverse perspectives and experiences.

12. Enhanced opportunities for high-skilled workers

Globalization leads to enhanced opportunities for high-skilled workers as it opens up a vast array of international job opportunities in various sectors, including technology, finance, and healthcare (Dumont, Rayp & Willemé, 2012).

These workers can leverage their specialized skills in a broader market, often finding better employment prospects, higher salaries, and advanced career development options globally.

Moreover, the exchange of expertise and knowledge across borders contributes to professional growth and the advancement of specialized fields.

13. Enhanced global cooperation and peace

Globalization could also, in an optimistic scenario, lead to enhanced global cooperation and peace. This is based on the theory that increasing economic interdependence among nations encourages diplomatic relations and collaboration rather than war (Baldwin, 2008).

The shared interests in maintaining stable trade and investment environments promote peaceful interactions and reduce the likelihood of conflicts.

Furthermore, international institutions and agreements foster a platform for dialogue and conflict resolution, contributing to global stability and peace.

14. Widening networking opportunities

Globalization leads to widening networking opportunities as it connects people from different cultures and professional backgrounds through international business, education, and social media platforms.

These connections facilitate the exchange of ideas, collaboration on projects, and the formation of global communities with shared interests and goals.

This extensive networking can lead to new business opportunities, partnerships, and innovations, benefiting individuals and organizations alike (Dumont, Rayp & Willemé, 2012).

15. Access to more goods for consumers

Globalization leads to access to more goods for consumers by breaking down trade barriers and enabling the efficient flow of products across borders (Mir, Hassan & Qadri, 2014).

Amazon Canada doesn’t have the product? No problem, try Amazon UK instead!

This results in a wider variety of goods available in the market, often at lower prices due to increased competition and economies of scale in production.

Consumers benefit from the improved quality, variety, and affordability of products, enhancing their purchasing choices and overall quality of life.

Disadvantages of Globalization

1. widening of economic disparities.

While the above positives sound good, many like Naomi Klein argue that globalization can lead to the widening of economic disparities as it often benefits developed nations and those with competitive advantages, while less developed countries may struggle to keep up.

This can result in increased wealth for certain regions and sectors, while others may experience stagnation or decline in economic growth. The result is a growing gap between the rich and the poor, both within and between countries.

2. Cultural Homogenization (Loss of local cultures)

There is an argument that globalization can lead to the loss of local cultures and identities as global brands and Western media dominate, overshadowing local traditions, languages, and practices.

We call this ‘ cultural homogenization ‘.

The spread of a homogenized global culture can dilute the uniqueness of local cultures, leading to a decrease in cultural diversity. People may adopt global trends at the expense of traditional values and customs, leading to a loss of cultural heritage.

Others dispute this claim, arguing instead that globalization leads to a process called glocalization .

3. Exploitation of labor in developing countries

Globalization can lead to the exploitation of labor in developing countries (Sharma, 2014). Multinational companies may seek to minimize costs by relocating production to regions where labor is cheaper and regulations are less stringent (e.g. opening up factories in Mexico and China instead of midwestern USA).

This can result in poor working conditions, low wages, and a lack of labor rights, exploiting the workforce in these countries. The pursuit of profit by global corporations can overshadow the need for ethical labor practices, leading to exploitation.

4. Environmental degradation

Environmentalists are often concerned that globalization is exacerbating environmental degradation. Increased industrial activity and international transportation contribute to pollution and natural resource depletion (Mir, Hassan & Qadri, 2014).

The global demand for goods encourages mass production, often without adequate environmental safeguards, leading to habitat destruction, loss of biodiversity, and climate change.

The focus on economic growth and consumerism can overshadow the need for sustainable environmental practices, exacerbating global environmental challenges.

5. Increased risk of financial contagion

Globalization leads to an increased risk of financial contagion as economies become more interconnected, meaning that financial crises can quickly spread from one country to another (Mendoza & Quadrini, 2010; Mir, Hassan & Qadri, 2014).

This interdependence is due to global investment and the intertwined nature of banking and financial markets.

A financial problem in one country can lead to investor panic and a loss of confidence, triggering a domino effect that impacts economies worldwide.

6. Over-dependence on global markets

Globalization leads to concerns that countries are over-dependent on foreign markets for essential supplies.

This dependence can make economies vulnerable when supply chains break down. When a major global shock occurs, countries heavily reliant on that market for exports or investment can experience significant economic disruptions (Mendoza & Quadrini, 2010).

For example, most nations in the world are reliant on Taiwan for computer chips. If Taiwan were suddenly invaded by China, the rest of the world won’t be able to produce sufficient computers!

7. Threat to local businesses and industries

In a globalized marketplace, local businesses face intense competition from larger multinational corporations.

These multinationals often have greater resources, technology, and access to larger markets, which can overshadow local enterprises (Burlacu, Gutu & Matei, 2018).

This intense competition can lead to the closure of local businesses, loss of traditional industries, and a decrease in domestic job opportunities.

8. Erosion of national sovereignty

National sovereignty is threatened by a globalized world. Governments may be compelled to alter their policies and regulations to attract global investment and remain competitive in the international market, locking themselves into international trade agreements that require compromise and cooperation (Burlacu, Gutu & Matei, 2018).

This can result in countries losing control over their economic, social, and environmental policies, potentially prioritizing international interests over national priorities.

9. Downward pressure on wages

Globalization can lead to downward pressure on wages as businesses seek to reduce costs by outsourcing jobs to countries where labor is cheaper (Mir, Hassan & Qadri, 2014).

This competition for lower-cost labor markets can result in wage stagnation or decreases in higher-wage countries.

Additionally, the influx of workers willing to accept lower wages can suppress wage growth even in sectors not directly exposed to international competition.

10. Spread of Political Ideologies

While earlier I noted that globalization may have sped up the spread of democracy, the opposite may occur.

While democracy may have been promoted by globalization – especially in the 20th Century – the same could happen with anti-democratic ideologies . For example, recently we have seen the spread of authoritarianism and “illiberal democracy” across the world.

11. Brain drain in developing countries

Globalization leads to brain drain in developing countries as highly educated and skilled professionals migrate to developed countries in search of better job opportunities, salaries, and living conditions (Dumont, Rayp & Willemé, 2012).

This migration of talent results in a significant loss of skilled labor for the originating countries, impacting their development and economic growth.

The departure of these key individuals can also lead to a shortage of expertise necessary for local advancement and innovation.

12. Spread of diseases across borders

Globalization leads to the spread of diseases across borders as increased international travel and trade facilitate the rapid movement of people and goods around the world.

This mobility can enable pathogens to cross geographical boundaries more easily, leading to the faster spread of infectious diseases.

Outbreaks that might have been contained within a region in the past can now quickly escalate into global health emergencies.

13. Vulnerability to global economic fluctuations

A globalized nation may be vulnerable to global economic fluctuations as economies become increasingly interconnected through trade, investment, and financial markets (Mendoza & Quadrini, 2010).

This interconnectedness means that economic issues in one country or region can have ripple effects globally, impacting economies that might not be directly related to the initial problem.

As a result, even local economies can be significantly affected by economic downturns or crises occurring in distant markets.

14. Concentration of corporate power

Some argue that globalization leads to the concentration of corporate power as large multinational corporations expand their reach and influence across multiple countries (Cowling & Tomlinson, 2005).

These corporations can dominate markets, overshadowing smaller local businesses and potentially manipulating markets to their advantage.

This concentration of power can lead to reduced competition, influence over political and economic policies, and an unequal distribution of economic benefits.

15. Potential for global monopolies and oligopolies

Similarly, globalization could lead to the potential for global monopolies and oligopolies as dominant corporations expand their reach across international borders (Burlacu, Gutu & Matei, 2018).

These entities can gain excessive market control, limiting competition and potentially leading to higher prices and fewer choices for consumers.

The global scale of these companies makes it challenging for new entrants to compete, and their influence can extend to shaping market regulations and policies in their favor.

Baldwin, R. (2008). EU institutional reform: Evidence on globalization and international cooperation. American Economic Review, 98(2), 127-132.

Burlacu, S., Gutu, C., & Matei, F. O. (2018). Globalization–pros and cons.  Calitatea ,  19 (S1), 122-125.

Cowling, K., & Tomlinson, P. R. (2005). Globalisation and corporate power .  Contributions to Political Economy ,  24 (1), 33-54.

Dincer, H., Yüksel, S., & Hacioglu, Ü. (Eds.). (2018). Strategic Design and Innovative Thinking in Business Operations: The Role of Business Culture and Risk Management . Springer International Publishing.

Dumont, M., Rayp, G., & Willemé, P. (2012). The bargaining position of low-skilled and high-skilled workers in a globalising world .  Labour Economics ,  19 (3), 312-319.

Erixon, F. (2018). The economic benefits of globalization for business and consumers.  European Centre for International Political Economy .

Hodos, T. (Ed.). (2016). The Routledge Handbook of Archaeology and Globalization. Taylor & Francis.

Mendoza, E. G., & Quadrini, V. (2010). Financial globalization, financial crises and contagion .  Journal of monetary economics ,  57 (1), 24-39.

Mir, U. R., Hassan, S. M., & Qadri, M. M. (2014). Understanding globalization and its future: An analysis.  Pakistan Journal of Social Sciences ,  34 (2), 607-624.

Sharma, N. K. (2013). Globalization and its impact on the third world economy.  Crossing the Border: International Journal of Interdisciplinary Studies ,  1 (1), 21-28.

Chris Drew (PhD)

Dr. Chris Drew is the founder of the Helpful Professor. He holds a PhD in education and has published over 20 articles in scholarly journals. He is the former editor of the Journal of Learning Development in Higher Education. [Image Descriptor: Photo of Chris]

• Chris Drew (PhD) https://helpfulprofessor.com/author/chris-drew-phd/ What is Educational Psychology?
• Chris Drew (PhD) https://helpfulprofessor.com/author/chris-drew-phd/ What is IQ? (Intelligence Quotient)
• Chris Drew (PhD) https://helpfulprofessor.com/author/chris-drew-phd/ 5 Top Tips for Succeeding at University
• Chris Drew (PhD) https://helpfulprofessor.com/author/chris-drew-phd/ 50 Durable Goods Examples

Leave a Comment Cancel Reply

Your email address will not be published. Required fields are marked *

An economist explains the pros and cons of globalization

Piling up: Global trade has increased, but has it been a positive or negative force? Image:  REUTERS/Tyrone Siu

.chakra .wef-1c7l3mo{-webkit-transition:all 0.15s ease-out;transition:all 0.15s ease-out;cursor:pointer;-webkit-text-decoration:none;text-decoration:none;outline:none;color:inherit;}.chakra .wef-1c7l3mo:hover,.chakra .wef-1c7l3mo[data-hover]{-webkit-text-decoration:underline;text-decoration:underline;}.chakra .wef-1c7l3mo:focus,.chakra .wef-1c7l3mo[data-focus]{box-shadow:0 0 0 3px rgba(168,203,251,0.5);} Gita Gopinath

Ceri parker.

.chakra .wef-9dduvl{margin-top:16px;margin-bottom:16px;line-height:1.388;font-size:1.25rem;}@media screen and (min-width:56.5rem){.chakra .wef-9dduvl{font-size:1.125rem;}} Explore and monitor how .chakra .wef-15eoq1r{margin-top:16px;margin-bottom:16px;line-height:1.388;font-size:1.25rem;color:#F7DB5E;}@media screen and (min-width:56.5rem){.chakra .wef-15eoq1r{font-size:1.125rem;}} Global Governance is affecting economies, industries and global issues

.chakra .wef-1nk5u5d{margin-top:16px;margin-bottom:16px;line-height:1.388;color:#2846F8;font-size:1.25rem;}@media screen and (min-width:56.5rem){.chakra .wef-1nk5u5d{font-size:1.125rem;}} Get involved with our crowdsourced digital platform to deliver impact at scale

Stay up to date:, global governance.

Every industrial revolution has driven a wave of globalization. The first wave was driven by innovations such as the steam engine and the industrial weaving machine; the second by the assembly line, the car and the plane; and the third by the digital revolution.

As we enter the fourth wave of globalization, driven by the digital revolution, there is renewed debate over whether it is a beneficial force: powering economic growth, and allowing the spread of ideas to improve people’s lives; or whether it erodes communities, and widens the gap between the elites and the rest of the world.

Globalization results in increased trade and lower prices. It heightens competition within domestic product, capital, and labour markets, as well as among countries adopting different trade and investment strategies.

But how do these impacts net out? What are the positive and negative effects of globalization? The below is an edited transcript of a conversation with Gita Gopinath, Chief Economist of the International Monetary Fund (IMF).

Overall, what are the advantages of globalization?

The advantages of globalization are actually much like the advantages of technological improvement. They have very similar effects: they raise output in countries, raise productivity, create more jobs, raise wages, and lower prices of products in the world economy.

What might be the advantages of globalization that someone would feel in their day-to-day life?

I think something that's not sufficiently appreciated about, for instance, international trade is that it reduces the prices of goods that they consume. So if you look at day-to-day things that you purchase, in terms of washing machines, or cars, or even clothing, because of international trade we've had a decline in prices of these goods, so they have become far more affordable for a lot of people in the world.

How have the benefits played out in advanced economies versus poorer ones over the last three decades?

Both advanced economies and developing economies have benefited overall in terms of having higher productivity, more job creation, and higher wages. As we've always known, and this is true again with technology, there are always some winners and losers. So there are communities and there are workers who lose out when there is more trade integration. That is what we're seeing right now in terms of discontent with international trade.

Who have been the biggest losers?

The biggest losers from international trade are always those whose skills have a cheaper competitor in a different market. So, in the case of the US, it's been those who work in the manufacturing sector because jobs in the manufacturing sector have been outsourced to countries where labour is far cheaper.

On the other hand, in developing countries, more capital-intensive goods get imported more cheaply from the outside. So if you're a manufacturer of a capital-intensive good in a developing country you tend to lose because of that competition.

This is how it is with international trade: production goes to wherever it is most efficient to produce. So, when people in any country are exposed to this kind of competition, some win and some lose.

Is it possible as an economist to come up with a verdict? Has this wave of globalized trade been a net positive or a net negative?

If you say, I'm going to look at it from a measure of overall effect on a country's income, on its purchasing power, on the prices that its people pay, overall I think the evidence that we have all points to it being a net positive.

Now, if you frame the question as, has international trade been good for the manufacturing worker in the US? Then the answer to that would be “not fully”; it's been very costly in terms of jobs and wages for them.

How optimistic are you that this next wave of globalization offers a better future?

I would make a couple of points. First, the previous waves of globalization have been quite successful in lifting a large number of people out of poverty and so we should appreciate that.

The second thing is that any form of globalization will generate winners and losers. So even if you have the perfect, most optimal international trade agreements, there will always be those who lose out because of competition, in the exact same way that people lose out whenever there's a new technology being developed.

And so if we want to make sure that the next wave of globalization is even more successful, it has to be complemented with good, sound domestic policies that help those who are getting left out.

How optimistic are you that the trade war between the US and China will be swiftly resolved?

It's absolutely essential that it be resolved, and it gets resolved in a way that's long lasting. The world economy has lived with the uncertainty about trade tensions for a while now and if there is any solution and there is a sense that the solution is only transitory and something can again get triggered in the future, I think that's very costly.

I'd say I'm mildly optimistic because I think leaders in the world are recognizing that these trade tensions are having a negative effect on their economies and so it would make sense to sit down and resolve it.

Don't miss any update on this topic

Create a free account and access your personalized content collection with our latest publications and analyses.

License and Republishing

World Economic Forum articles may be republished in accordance with the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Public License, and in accordance with our Terms of Use.

The views expressed in this article are those of the author alone and not the World Economic Forum.

Related topics:

The agenda .chakra .wef-n7bacu{margin-top:16px;margin-bottom:16px;line-height:1.388;font-weight:400;} weekly.

A weekly update of the most important issues driving the global agenda

.chakra .wef-1dtnjt5{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;-webkit-flex-wrap:wrap;-ms-flex-wrap:wrap;flex-wrap:wrap;} More on Global Cooperation .chakra .wef-17xejub{-webkit-flex:1;-ms-flex:1;flex:1;justify-self:stretch;-webkit-align-self:stretch;-ms-flex-item-align:stretch;align-self:stretch;} .chakra .wef-nr1rr4{display:-webkit-inline-box;display:-webkit-inline-flex;display:-ms-inline-flexbox;display:inline-flex;white-space:normal;vertical-align:middle;text-transform:uppercase;font-size:0.75rem;border-radius:0.25rem;font-weight:700;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;line-height:1.2;-webkit-letter-spacing:1.25px;-moz-letter-spacing:1.25px;-ms-letter-spacing:1.25px;letter-spacing:1.25px;background:none;padding:0px;color:#B3B3B3;-webkit-box-decoration-break:clone;box-decoration-break:clone;-webkit-box-decoration-break:clone;}@media screen and (min-width:37.5rem){.chakra .wef-nr1rr4{font-size:0.875rem;}}@media screen and (min-width:56.5rem){.chakra .wef-nr1rr4{font-size:1rem;}} See all

How global joint ventures can thrive in times of turmoil

Rahul Khubchandani and Ed Gore-Randall

May 2, 2024

What bullet-proof Kevlar teaches us about cooperation and resilience

Aba Schubert

April 26, 2024

Japan and the Middle East: Japan can be a bridge in an era of global fragmentation and conflict

Kiriko Honda

April 25, 2024

Practice of long-term thinking: How to leverage foresight to address the transformational challenges ahead

Lasse Jonasson

April 24, 2024

Unlocking Africa's $1 trillion food economy: The role of global aid and sustainable technology

Energy for development: Everything you need to know from #SpecialMeeting24

Ella Yutong Lin and Kate Whiting

April 23, 2024

You are using an outdated browser. Upgrade your browser today or install Google Chrome Frame to better experience this site.

Pros and cons of economic, social and political globalization: is globalization overall positive for our societies?

Historically, globalization has been considered both a great opportunity and a threat. Globalization is a multifaceted phenomenon which entails several economic, cultural, and political pros and cons. Discover here the implications and arguments for and against globalization.

Brief history of globalization

Globalization is a process of growing exchange, interaction and integration between people, governments and private organizations across the globe. International trade, capital flows, migration , technological transfer and cultural exchanges are some of the typical manifestations of this process. The encounters and relationships between ancient civilizations and the colonization processes initiated during the Age of Discoveries were archaic and early-modern forms of globalization. During the 19th century technological progress and the Industrial Revolution catalyzed globalization. The political and economic international agreements after the Second World War accelerated this process even further. However, this term really became paramount in the academic literature and media after the fall of the Iron Curtain and the Soviet Union which enabled a much more fluid communications, exchanges of goods and services and migration .

For years globalization was equated with progress and economic growth and generally supported. However, in the last few years an increasing number of voices have started to criticize this phenomenon and point at several flaws and dangers associated with it. The anti-globalization movement has grown. Not only left-wing  anti-capitalists oppose globalization, but conservative nationalists have recently emerged as a strong force against it. To what extent is globalization to blame for problems such as national unemployment , inequality, terrorism and cultural homogenization?

Globalization pros and cons

Globalization  is such a complex phenomenon that here we are going to dissect its pros and cons across three different dimensions or angles: economic, cultural and political

Economic globalization 

Economic globalization echoes the views of neoliberal and neoclassicist thinkers in which states lose prominence and the world becomes a single global market of individual consumers. These consumers are characterized by their material and economic self-interest – rather than cultural, civic or other forms of identity. The expansion and dominance of global companies and brands is another key feature. These corporations contribute to deepen global interconnectedness not only by uniformly shaping consumption patterns across societies, but by binding economies together through complex supply chains, trade networks , flows of capital and manpower. 

Pros of economic globalization: 

• Cheaper prices for products and services (more optimized supply chains)
• Better availability of products and services
• Easier access to capital and commodities
• Increased competition
• Producers and retailers can diversify their markets and contribute to economic growth

Cons of economic globalization:

• Some countries struggle to compete
• Extractive behavior of some foreign companies and investors  in resource-rich countries preventing economic diversification
• Strong bargaining power of multinational companies vis-à-vis local governments
• “Contagion effect” is more likely in times of crises
• Problems of “ social dumping ”

Cultural globalization

It refers to the process of transmission of values, ideas, cultural and artistic expressions. In the era of the Internet and fast communications people can interact more easily with each other. Multiculturalism and cosmopolitanism are to some extent manifestations of cultural globalization. Communities are less insulated than ever in history, even those who cannot travel can have today a good understanding of other cultures and meet virtually people from other parts of the world. People change their views and lifestyle influenced by global cultural and consumption trends.

Pros of cultural  globalization:

• Access to new cultural products (art, entertainment, education) 
• Better understanding of foreign values and attitudes. Less stereotyping and fewer misconceptions about other people and cultures
• Instant access to information from anywhere in the world
• Capacity to communicate and defend one’s values and ideals globally
• Customisation or adaptation of global cultural trends to local environment (“mestisage”)

Cons of cultural globalization:

• Spread of commodity-based consumer culture    
• Dangers of cultural homogenization
• Westernization, cultural imperialism or cultural colonialism
• Some small cultures may lose their distinct features
• Dangerous or violent ideals can also spread faster (note the international character of the terror group IS)

Political globalization 

The political dimension is a newer feature of the globalization debate, as over the last 30 years there has been a rise in the influence and power of international and regional institutions such as the European Union (EU), Organization for Economic Cooperation and Development (OECD), the United Nations (UN), the World Trade Organization (WTO), MERCOSUR in South America, and the Association for Southeast Asian Nations (ASEAN). These international and supranational actors increasingly shape domestic politics.

Pros of political globalization:

• Access to international aid and financial support
• It contributes to world peace . It reduces risk of invasions, more checks on big powers and limitationn on nationalism
• International organizations are often committed to spread values like freedom and to fight abuses within countries
• Smaller countries can work together and gain more influence internationally
• Governments can learn from each other

Cons of political globalization:

• State sovereignty is reduced
• The functioning of international and supranational organizations is often not “democratic” in terms of representation and accountability
• Big countries can shape decisions in supranational organizations
• Sometimes countries can veto decisions and slow down decision making processes
• Coordination is difficult and expensive

To summarize, no matter from which angle we look at globalization, whether economic, cultural or political, both the opportunities and drawbacks are numerous.

If you want to promote your own scholarly debate, lecture, research project or academic article, contact us:  university[a]netivist.org

Vote to see result and collect 1 XP. Your vote is anonymous. If you change your mind, you can change your vote simply by clicking on another option.

Voting results

New to netivist?

Join with confidence, netivist is completely advertisement free. You will not receive any promotional materials from third parties.

Or sign in with your favourite Social Network:

Join the debate

In order to join the debate you must be logged in.

Already have an account on netivist? Just login . New to netivist? Create your account for free .

 Report Abuse and Offensive language

Was there any kind of offensive or inappropriate language used in this comment.

If you feel this user's conduct is unappropriate, please report this comment and our moderaters will review its content and deal with this matter as soon as possible.

NOTE: Your account might be penalized should we not find any wrongdoing by this user. Only use this feature if you are certain this user has infringed netivist's Terms of Service .

Our moderators will now review this comment and act accordingly. If it contains abusive or inappropriate language its author will be penalized.

Posting Comment

Your comment is being posted. This might take a few seconds, please wait.

Error Posting Comment

  error.

We are having trouble saving your comment. Please try again .

Most Voted Debates

Start a Debate

Would you like to create a debate and share it with the netivist community? We will help you do it!

Found a technical issue?

Are you experiencing any technical problem with netivist? Please let us know!

Help netivist

Help netivist continue running free!

Please consider making a small donation today. This will allow us to keep netivist alive and available to a wide audience and to keep on introducing new debates and features to improve your experience.

• What is netivist?
• Entertainment
• Top Debates
• Top Campaigns
• Provide Feedback

Follow us on social media:

 Share by Email

There was an error...

Email successfully sent to:

Join with confidence, netivist is completely advertisement free You will not recive any promotional materials from third parties

 Join netivist

Already have a netivist account?

If you already created your netivist account, please log in using the button below.

If you are new to netivist, please create your account for free and start collecting your netivist points!

You just leveled up!

Congrats you just reached a new level on Netivist. Keep up the good work.

Together we can make a difference

Follow us and don't miss out on the latest debates!

19 Advantages and Disadvantages of Globalization

Globalization refers to several different concepts all rolled into one package. It may refer to the ease in which businesses conduct operations in different countries other than their own. Some look at this subject as a way to create a world without national borders. There are concepts of communication, information access, and technology development to consider when looking at this subject matter too.

Even though the geographic size of our planet remains consistent, how we interact with each other is changing by the minute. Despite more than 200 countries independently working for their best interests, we all come together in ways to make the world a better place. If you have access to a computer or mobile device with data or an ISP, then you can communicate with anyone else in the world with the same setup.

We are closer than ever before. That closeness also means that groups of people are further apart than ever before. Neighborhoods form around common interests or political perspectives more than our common humanity. Travel restrictions dictate where some people can go, and others cannot.

As the advantages and disadvantages of globalization show, even though progress occurs, we are also taking steps backward.

List of the Advantages of Globalization

1. Globalization allows us to pool all our resources together. One of the best examples of globalization within our lifetime is the construction of the International Space Station. The cost to construct the ISS was $150 billion. Compared to the Mir station at $4.2 billion, the price tag is astronomical. When the first component for the ISS was launched in 1998, five different programs came together to join in ownership, cost, and operations. The United States, Russia, Canada, Europe, and Japan are all involved in the financing and continued operations of the program.

When nations work together to fund common goals, then more money becomes useful for needs other than national defense. Imagine what we could do if the $1 trillion spent annually on warfare and defense could be used for the global greater good?

2. Globalization would also reduce labor exploitation issues. When borders become less restrictive around the world, people tend to move to locations where their best opportunities exist. Under the current structure of our planet, impoverished nations with a lower standard of living offer wages that the developed world would find abysmal. Someone in Bangladesh making clothes for 10 hours per day earns less in a month than some workers in the U.S. earn before lunch.

By focusing on globalization, we could reduce child labor issues. Human trafficking concerns would be limited because of more border freedom. People could live, work, or go where they please with fewer restrictions, making it easier to chase their dreams.

3. Globalization reduces the prospects of tyranny. As the world moved slowly toward globalization in the 20th century, the nations realized that having a concentrated power with one administration reduced the likelihood of tyranny in pockets around the globe. Although there have still be issues with government oppression, including the chemical attacks on populace centers in Syria, the number of incidents is slowly declining.

When we’re able to move toward a global-centric society instead of a nation-centric one, these issues will continue to decline over time.

4. Globalization improves communication access. The Trump Administration announced new travel restrictions in September 2017 to focus on 8 countries: North Korea, Chad, Libya, Iran, Syria, Somalia, Yemen, and Venezuela. “Making America Safe is my number one priority,” President Trump tweeted when announcing this decision. “We will not admit those into our country we cannot safely vet.”

Under a globalization perspective, people would have their risks associated by a central perspective instead. It would be like the United Nations vetting immigrants instead of the individual country. By reducing border restrictions, we improve communication access because we’re no longer restricting the movements and actions of people on a per-nation basis.

5. Globalization would remove tax havens for wealthy individuals and businesses. Tax havens are defined as either a country or independent area where taxation levies are at low rates. They offer foreign businesses and individuals an opportunity to keep their profits in local institutions with little or no liability. These havens share little, if any, information about these finances with other tax authorities.

Globalization reduces this issue because it eliminates the administrative structures in place which allow the wealthy to hide their funds from being taxed. That would mean these businesses and people would be treated as an average citizen is today. Greater transparency here would lead to better funding of social programs, which could reduce poverty and food insecurity over time.

6. Globalization would help the developing world progress faster. Most of the world today is not developed. Outside of about 40 countries which have gone through their own version of the Industrial Revolution, the rest of the population still struggles as a primarily agricultural society. By reducing border restrictions, creating common payment formats, and opening product access by reducing export barriers, more people could improve their way of life. Higher incomes often lead to lower maternal and infant mortality rates too, which means we’d be saving lives with this effort.

7. Globalization would reduce currency manipulation problems. There are three primary currencies traded in the world today: the Dollar, the Euro, and the Pound Sterling. When a nation offers access to a weaker currency, those with stronger currencies buy and sell more often with them. It offers better value than spending at home. Globalization would reduce the efforts made to build weakness or strength into these currencies to influence local markets. We’d be working toward a society where economic growth occurs on a global scale instead of in only local economies.

8. Globalization encourages free trade. Borders create restrictions to the free flow of goods and services. One example of this issue is a duty and taxes paid on imported goods originating in the U.S. when purchased in Canada. These taxes apply on luxury items and other items of high value. The HST in Canada may be collected at a rate of 13%. Canadians use shipping service receptacles at locations like Point Roberts, WA to get around this tax simply because the laws haven’t globalized like our access to goods.

There are currently over 1,500 different restrictions in place with the global import/export market right now.

9. Globalization could create more employment opportunities. With fewer barriers to the import/export market, the cost of producing goods or offering services would decline without affecting the profit margins of companies. Consumers would benefit from the lower prices, consume more, and create additional job opportunities around the world. By creating an environment where free trade encouragement readily exists, more innovation, creativity, and engagement would occur at every level of society.

List of the Disadvantages of Globalization

1. Globalization may encourage more offshoring instead of less. With fewer restrictions in place at the national level, some businesses may use offshoring to their advantage. Even if they kept jobs local, the threat of sending jobs to a different, cheaper region overseas could be used to justify lower wages at home. The end result of an effort to remove borders would be an increase in wages in the developing world, but a decrease in developed countries. Many households could see their standard of living go down if consumable price decreases don’t occur simultaneously.

2. Globalization benefits the wealthy more than the poor. Value-added taxes above 25% exist in some nations. Tariffs above 70% exist for some products. Unless borders are completely removed, the advantages of globalization are challenging to achieve. The people who have the power to dictate policy would reap the most significant rewards. Those with money to invest would see their bank accounts continue to rise. At the same time, households living paycheck-to-paycheck would struggle to access what they require, suppressing their ability to pursue a better job.

3. Globalization would encourage disease transfer. The outcome of the Columbian Exchange was profound at the time. Over 90% of some population centers died because of their exposure to smallpox, chickenpox, and other diseases that the Europeans were somewhat immune to at the time. The Europeans brought back syphilis and other diseases as well. If global travel restricts eased, then issues with malaria and tropical disease could spread to portions of the world where exposures are minimal. Tuberculosis, certain influenza strains, and other communicable disease could produce outbreaks at epidemic levels.

4. Globalization could reduce social safety net programs. Most nations today offer those in extreme poverty access to safety net programs for basic supplies. Even in the United States, programs like WIC and SNAP offer food and care access to those who cannot afford it on their own for whatever reason. When we reduce or eliminate borders, there would be a likely shift in social programs to benefit those earning less than $2 per day while ignoring the needs of those at home. Households living in poverty in the U.S. or United Kingdom fit into a different definition when compared to global poverty.

5. Globalization would create a new system of politics. We’ve already received a sneak peek of what a global society would be like from a political perspective. The individuals and organizations who spend the most to lobby politicians would receive the best chance of having their needs met first. We’ve seen billions spent in U.S. elections lately to influence legislation and policy to become favorable toward specific outcomes. This issue would translate to a global economy, where only the richest and most influential would influence laws which would impact everyone.

6. Globalization would not prevent resource consumption. The goal of globalization is to equalize patterns of consumption for populations around the world. Even though there would be movement toward doing so, there is no getting around the fact that the wealthiest nations will still consume the most resources. The 20 richest countries in the world today consume almost 90% of the planet’s resources each year. The United States constitutes 5% of the global population right now, but it consumes 24% of the world’s energy as a country.

When you look at the per capita consumption rates of energy globally, one American consumes as much energy as 31 people in India. If you go to a developing nation, it takes 370 Ethiopians to use the same amount of energy that a single U.S. citizen uses to meet their needs.

7. Globalization would make it easier for people to cheat. The statistics of consumption (especially food) show us already that those who are in power take the majority of resources away from the general population. Americans eat almost 200 billion more calories per day as a nation than they require, which means 80 million people are hungry needlessly because of these consumption habits. About 200,000 tons of edible food is disposed of daily in the United States. By the age of 75, the average person in the U.S. creates 52 tons of garbage.

Globalization would likely centralize distribution of necessary resources. With only a few controlling access to the many, the chance to negatively impact populations on a large scale become greater when borders are reduced.

8. Globalization doesn’t fix a lack of skills. The future of employment involves programming, robotics, and artificial intelligence. Workers who adapt to automation with their skillset are the most likely to find employment in the coming generations. Jobs which require repetitive functions will be the first to go away, which are the employment opportunities often found in the developing world. With no meaningful skills to a globalized economy, there could be a higher unemployment rate if border restrictions reduce because only those in the developed world would be trained for the new economy.

Unless new vocational development opportunities implement with the globalization structures, the boundaries between the developed and developing world will likely continue to exist.

9. Globalization changes how humans would identify themselves. Humans are global citizens in some ways already. We all share the same planet, after all, so we are united with that common ground. If we lose borders, however, we also lose a piece of our culture, ethnicity, or family heritage. People identify themselves based on their history, so being Irish in a global world would have less impact than it does today. We already seen how this works when Texas came into the U.S. after being an independent nation. Some Texans label themselves as such first, but many see themselves as an American before being a Texan.

10. Globalization would negatively impact the environment. We’ve already seen what free trade does to the environment. Greenhouse gas emissions rose in 2018 despite efforts to curtail them. Micro-plastics invaded our oceans, creating negative impacts on marine life. The waters of our planet are slowly acidifying, creating economic and health impacts every day. Over 200,000 Americans die each year because of pollution exposure. If caps are taken off of what is not permitted through globalization, then this issue will continue growing worse.

The advantages and disadvantages of globalization show us that a world free to move and communicate offers numerous opportunities to pursue. It also shows us a planet where fewer opportunities may exist for workers and families who are employed in low-skill positions. We have many challenges to face in the coming years as the world continues to become a smaller place. That’s why we must continually look at these issues to ensure everyone has a fair chance to find success.

Home — Essay Samples — Sociology — Globalization

Essays on Globalization

Hook examples for globalization essays, "the global village" metaphor hook.

"In the age of globalization, our world has transformed into a 'global village.' Explore the implications of this metaphor and how it has reshaped our understanding of interconnectedness and cultural exchange."

The Impact of Digital Connectivity Hook

"In an era where a single tweet can reach millions, digital connectivity has revolutionized globalization. Delve into the profound impact of the internet, social media, and technology on global interactions."

The Paradox of Local vs. Global Hook

"Globalization blurs the lines between local and global identities. Analyze the paradox of preserving cultural heritage while embracing the globalized world and how this tension shapes our societies."

The Global Marketplace Hook

"Globalization has ushered in an era of unprecedented trade and economic interconnectedness. Explore the dynamics of the global marketplace, from multinational corporations to supply chains spanning continents."

Cultural Fusion and Identity Hook

"Globalization has led to a melting pot of cultures, but what happens to cultural identities in the process? Investigate how globalization impacts the preservation and evolution of cultural identities."

The Challenges of Globalization Hook

"While globalization offers numerous benefits, it also presents challenges. Examine issues such as income inequality, cultural homogenization, and environmental concerns that arise in a globalized world."

The Future of Globalization Hook

"As we stand on the brink of a globalized future, what can we expect? Join me in exploring the potential trajectories of globalization, from its impact on politics to the role of emerging technologies."

The Best Globalization Essay Topics

• The Impact of Globalization on Local Cultures: Integration or Erasure?
• The Impact of Globalization on Cultural Identity in Anthropological Studies
• Globalization and Economic Inequality: Bridging the Gap Between Rich and Poor
• The Role of Technology in Advancing Globalization and Its Social Implications
• Environmental Consequences of Globalization: Challenges and Sustainable Solutions
• Analyzing the Advantages and Disadvantages of Globalization
• The Influence of Globalization on Education and Cross-Cultural Exchanges
• Global Political Dynamics: How Globalization Affects Sovereignty and Governance
• Globalization and Health: The Spread of Diseases and Global Health Initiatives
• Consumer Culture and Globalization: The Homogenization of Global Markets

Importance of Being Bilingual

Strengths and weaknesses in english, made-to-order essay as fast as you need it.

Each essay is customized to cater to your unique preferences

+ experts online

Importance of Global Interdependence

The effects of globalization on developing countries and its advantages and disadvantages, the impact of globalization to cultural identity, globalization, its causes and effects on the world, let us write you an essay from scratch.

• 450+ experts on 30 subjects ready to help
• Custom essay delivered in as few as 3 hours

Good and Bad Impact of Globalization

History of globalization and its benefits for society, financial, social and political effects of globalization, globalization: global concerns of global development, get a personalized essay in under 3 hours.

Expert-written essays crafted with your exact needs in mind

Globalization's Theories and Effects in The Modern World

The effects of globalization on health and medicine, a study on globalization and its various sides, overview of five articles about globalization, globalization: two sides of the arguments both for and against, globalization and its positive and negative sides for india, the advantages and disadvantages of the globalization process based on real-life examples, criticism and controversial benefits of globalization, globalization: importance of english nowadays, the impact of globalization, nationalism and protectionism on india, an overview of the overall impact of globalization, research of effects of globalization on the media in the world, globalisation as an economical, political and cultural process, pro globalist and anti globalist view from developed country perspective, how global issues impact individual states, electronic commerce in the globalization era, the effect of globalization and americanization on mass media, components of globalization: concept sociocultural and social globalizations, how the impact of globalization on illicit drug trafficking has affected international security, discussion of whether globalization is good or bad for the indian economy.

1. Halliday, T. C., & Osinsky, P. (2006). Globalization of law. Annu. Rev. Sociol., 32, 447-470. (https://www.annualreviews.org/doi/abs/10.1146/annurev.soc.32.061604.123136) 2. Fischer, S. (2003). Globalization and its challenges. American Economic Review, 93(2), 1-30. (https://www.aeaweb.org/articles?id=10.1257/000282803321946750) 3. Lang, M. (2006). Globalization and its history. The Journal of Modern History, 78(4), 899-931. (https://www.journals.uchicago.edu/doi/abs/10.1086/511251?journalCode=jmh) 4. Spring, J. (2008). Research on globalization and education. Review of educational research, 78(2), 330-363. (https://journals.sagepub.com/doi/abs/10.3102/0034654308317846?journalCode=rera) 5. Scott, A., & Storper, M. (2003). Regions, globalization, development. Regional studies, 37(6-7), 579-593. (https://www.tandfonline.com/doi/abs/10.1080/0034340032000108697a) 6. Jameson, F. (1998). Notes on globalization as a philosophical issue. In The cultures of globalization (pp. 54-78). Duke University Press. (https://www.degruyter.com/document/doi/10.1515/9780822378426-005/html?lang=de) 7. Frankel, J. A. (2003). The environment and globalization. (https://www.nber.org/papers/w10090) 8. Teeple, G. (2000). What is globalization?. Globalization and its discontents, 9-23. (https://link.springer.com/chapter/10.1057/9780333981610_2)

Relevant topics

• Sociological Imagination
• Modern Society
• Social Change
• Stereotypes
• Sociological Perspective
• American Identity
• Effects of Social Media
• Cultural Appropriation

By clicking “Check Writers’ Offers”, you agree to our terms of service and privacy policy . We’ll occasionally send you promo and account related email

No need to pay just yet!

Bibliography

We use cookies to personalyze your web-site experience. By continuing we’ll assume you board with our cookie policy .

• Instructions Followed To The Letter
• Deadlines Met At Every Stage
• Unique And Plagiarism Free

Press ESC to close

Or check our popular categories....

Home » Political Science » Political Economy » 10 Advantages And Disadvantages Of Globalization

10 Advantages And Disadvantages Of Globalization

Globalization is the process of increasing interconnectedness and interdependence among people, businesses, and countries around the world. It is a complex and multifaceted phenomenon that has been shaped by advances in technology, transportation, and communication, as well as economic, political, and cultural factors.

Advantages and Disadvantages of Globalization

Globalization has brought about many advantages, including increased economic growth, access to new markets, and the spread of ideas and innovations. However, it has also had its share of challenges and disadvantages, including job displacement, cultural homogenization, and negative environmental impacts.

In this context, it is important to carefully consider the advantages and disadvantages of globalization in order to understand its impact on the world we live in and work to address any negative effects.

10 Advantages of Globalization

Some of the key advantages of globalization include:

• Increased Economic Growth
• Access To New Markets
• Spread Of Ideas And Innovations
• Increased Cultural Exchange
• Greater Efficiency
• Job Creation
• Improved Living Standards
• Increased Competition
• Greater Access To Information
• Political Benefits

1. Increased economic growth

Globalization has led to increased trade and investment, which has contributed to economic growth around the world. As countries have become more interconnected and trade and investment have increased, businesses have been able to access new markets and sell their products and services to a wider audience. This has led to increased productivity and economic growth, particularly in developing countries that have been able to tap into the global economy.

2. Access to New markets

Globalization has opened up new markets for businesses, allowing them to sell their products and services to a wider audience. This has been facilitated by advances in technology, transportation, and communication, which have made it easier for businesses to connect with customers around the world. The access to new markets has helped businesses to expand their operations and increase their profits.

3. Spread of ideas and innovations

Globalization has facilitated the exchange of ideas and knowledge, leading to the spread of innovations and technological advancements. As people from different parts of the world have come into closer contact with one another, they have been able to share ideas and learn from one another. This has led to the development of new technologies and the spread of innovative ideas, which has had a positive impact on the quality of goods and services available to consumers.

4. Increased cultural exchange

Globalization has brought people from different cultures into closer contact, leading to increased cultural exchange and understanding. As people from different parts of the world have interacted with one another, they have been able to learn about and appreciate different cultures and ways of life. This has helped to promote greater tolerance and understanding among people from different backgrounds and has contributed to a more vibrant and diverse global culture.

5. Greater efficiency

Globalization has allowed for the division of labor, with countries specializing in the production of goods and services in which they have a comparative advantage. This has led to increased efficiency and lower prices for consumers. By specializing in the production of certain goods and services, countries have been able to take advantage of their unique strengths and resources, leading to increased productivity and lower costs.

6. Job creation

Globalization has created new job opportunities, particularly in developing countries. As businesses have expanded their operations internationally, they have created new job opportunities in the countries where they operate. This has helped to reduce poverty and improve living standards for many people around the world.

7. Improved living standards

Globalization has contributed to increased prosperity and improved living standards for many people around the world. As economic growth has increased and access to goods and services has improved, people have been able to enjoy a higher standard of living. This has included increased access to education, healthcare, and other important amenities.

8. Increased competition

Globalization has increased competition among businesses, which has helped to drive innovation and improve the quality of goods and services. As businesses compete with one another on a global scale, they have been forced to continuously improve the quality and value of their products and services in order to stay competitive. This has benefited consumers, who have access to a wider range of high-quality goods and services at lower prices.

9. Greater access to information

Globalization has made it easier for people to access information and connect with others around the world. Advances in technology and communication have made it possible for people to access a wide range of information and connect with others, regardless of their location. This has had a number of benefits, including increased access to education, improved communication and collaboration, and the ability to connect with people from different cultures and backgrounds.

10. Political benefits

Globalization has contributed to increased political stability and cooperation, as countries have become more interconnected and interdependent. As countries have become more reliant on one another for trade and investment, there has been an increased incentive to cooperate and work together to address common challenges. This has led to increased political stability and cooperation, as countries have worked together to solve problems and find mutually beneficial solutions. In addition, the increased economic and cultural exchange facilitated by globalization has helped to promote greater understanding and cooperation among countries.

10 Disadvantages of Globalization

Globalization also had its share of challenges and disadvantages. These includes –

• Job Displacement
• Cultural Homogenization
• Negative Environmental Impacts
• Income Inequality
• Loss of Local Control
• Exploitation Of Workers
• Loss of Cultural Diversity
• Decreased Job Security
• Negative Impact On Small Businesses
• Negative Impact On The Environment

1. Job displacement

Globalization has been associated with job displacement, as some workers have lost their jobs to lower-paid workers in other countries. As businesses have sought to take advantage of lower labor costs in other countries, they have moved some of their operations abroad, leading to job losses in their home countries. This has had a particularly negative impact on workers in developed countries, who may not have the same access to education and training as their counterparts in developing countries.

2. Cultural homogenization

Globalization has been linked to cultural homogenization, as some local cultures have been overshadowed by more dominant global cultures. As people from different parts of the world have come into closer contact with one another, there has been a greater exchange of cultural influences. However, some critics argue that this has led to the erosion of local cultures and the rise of a more dominant global culture. This has had a negative impact on cultural diversity and has led to the loss of some traditional ways of life.

3. Negative environmental impacts

The increased trade and transportation that has accompanied globalization has had negative environmental impacts, including air and water pollution and climate change. The increased movement of goods and people around the world has led to increased emissions of greenhouse gases and other pollutants, which have contributed to climate change and other environmental problems.

4. Income inequality

Globalization has contributed to income inequality, as some people and countries have benefited more from the process than others. While some individuals and countries have experienced increased prosperity and improved living standards as a result of globalization, others have been left behind. This has led to growing income inequality, as the gap between the rich and the poor has widened.

5. Loss of local control

Globalization has led to the loss of local control in some areas, as decision-making has shifted to a global scale. As countries have become more interconnected and interdependent, some argue that local communities and governments have lost control over their own affairs. This has led to a sense of powerlessness and frustration for some people, as global forces have come to shape their lives in ways that they may not be able to influence.

6. Exploitation of workers

Some critics argue that globalization has led to the exploitation of workers in developing countries, as companies seek to take advantage of lower labor costs. In some cases, workers in developing countries have been paid very low wages and have worked in poor conditions in order to produce goods for export to developed countries. This has led to concerns about the exploitation of workers and the erosion of labor standards in some countries.

7. Loss of cultural diversity

Globalization has been linked to the loss of cultural diversity, as some local cultures have been overshadowed by more dominant global cultures. As people from different parts of the world have come into closer contact with one another, there has been a greater exchange of cultural influences. However, some argue that this has led to the erosion of local cultures and the rise of a more dominant global culture, which has had a negative impact on cultural diversity.

8. Decreased job security

The increased competition that has accompanied globalization has led to decreased job security for some workers. As businesses have faced increased competition from abroad, they have been forced to become more efficient in order to stay competitive. This has led to cost-cutting measures, including layoffs and job insecurity, which has had a negative impact on some workers.

9. Negative impact on small businesses

Globalization has benefited large corporations, but it has had a negative impact on small businesses in some cases. As small businesses have faced increased competition from larger, more efficient global corporations, some have struggled to survive. This has led to the closure of some small businesses and the loss of jobs in local communities.

10. Negative impact on the environment

In conclusion, globalization has brought about many positive changes and benefits, including increased economic growth, access to new markets, and the spread of ideas and innovations. However, it has also had its share of challenges and negative impacts, including job displacement, cultural homogenization, and negative environmental impacts.

As we move forward, it is important to carefully consider both the advantages and disadvantages of globalization in order to understand its full impact and work to address any negative effects.

This may involve adopting a more responsible and ethical approach to globalization that takes into account the needs and well-being of people and the environment. By doing so, we can ensure that the benefits of globalization are shared more widely and that its negative impacts are minimized.

Categorized in:

Share Article:

Leave a Reply Cancel reply

Save my name, email, and website in this browser for the next time I comment.

Other Stories

7 factors for the decline of political theory, the idea of political community: political obligation, please enable javascript in your browser to visit this site..

• Writing Correction
• Online Prep Platform
• Online Course
• Speaking Assessment
• Ace The IELTS
• Target Band 7
• Practice Tests Downloads
• IELTS Success Formula
• Essays Band 9 IELTS Writing Task 2 samples – IELTS Band 9 essays
• Essays Band 8 IELTS Writing – samples of IELTS essays of Band 8
• Essays Band 7 IELTS Writing – samples of IELTS essays of Band 7
• Essays Band 6 IELTS Writing – samples of IELTS essays of Band 6
• Essays Band 5 IELTS Writing – samples of IELTS essays of Band 5
• Reports Band 9 IELTS Writing – samples of IELTS reports of Band 9 (Academic Writing Task 1)
• Reports Band 8 IELTS Writing – samples of IELTS reports of Band 8
• Reports Band 7 IELTS Writing – samples of IELTS reports of Band 7
• Letters Band 9 IELTS Writing Task 1 – samples of IELTS letters of Band 9
• Letters Band 8 IELTS Writing – samples of IELTS letters of Band 8
• Letters Band 7 IELTS Writing – samples of IELTS letters of Band 7
• Speaking Samples
• Tests Samples
• 2023, 2024 IELTS questions
• 2022 IELTS questions
• 2021 IELTS questions
• 2020 IELTS questions
• High Scorer’s Advice IELTS high achievers share their secrets
• IELTS Results Competition
• IELTS-Blog App

IELTS Essay, topic: The advantages and disadvantages of globalization

• IELTS Essays - Band 8

Even though globalization affects the world’s economies in a very positive way, its negative side should not be forgotten. Discuss.

Globalization is such a commonly used term in the century. It simply means that the world has become integrated economically, socially, politically and culturally through the advances of technology, transportation and communication. It is undeniable that globalization has resulted in both positive and negative effects which must be addressed accordingly.

Secondly, several companies from the more developed countries have already ventured to establish foreign operations or branches to take advantage of the low cost of labor in the poorer countries. This kind of business activity will provide more influx of cash or investment funds into the less developed countries.

However, one cannot deny the negative effects which derived from globalization. One crucial social aspect is the risk and danger of epidemic diseases which can easily be spread as the transportation becomes easier and faster in today’s advanced society. This is evidenced in the recent birds flu disease which has infected most Asian countries over a short period of time.

As large corporations invest or take over many offshore businesses, a modern form of colonization will also evolve which may pose certain power pressure on the local governments of the less developed countries. Unemployment rates in the more developed regions such as Europe may also escalate as corporations choose to outsource to the cheaper work force from Asian countries.

In conclusion. to reiterate that globalization is inevitable and we must urge individuals, companies and governments to use a more balanced approach by taking the appropriate steps to deal with matters relating to the financial or economical gains verses the social, political or ecological concerns of the world.

This essay is too long, 318 words instead of 250-265. Otherwise (except for some minor grammatical errors) it is a very nice work. It covers the task, has the right structure, the paragraphs are coherent and are logically connected by elegantly used linking words, the structure of sentences is fine and so is your vocabulary. Seems worthy of Band 7.5 or 8.

Click here to see more IELTS essays of band 8

Related posts:

• IELTS essay, topic: Some say that new homes should be constructed in existing cities while others argue that new towns should be built (advantages/disadvantages) Many countries are experiencing population growth and need to build...
• IELTS essay, topic: The advantages and disadvantages of high-rise apartment living This is a model response to a Writing Task 2...
• IELTS Essay, topic: In some countries private cars are now banned from city centres (advantages / disadvantages) This is a model response to a Writing Task 2...
• IELTS essay, topic: Many university students nowadays live away from home and their parents (advantages/disadvantages) This essay topic was seen in a recent IELTS test...

8 thoughts on “IELTS Essay, topic: The advantages and disadvantages of globalization”

Pingback:  IELTS Essay Samples of Band 8 | IELTS-Blog

Can i send my essay for review?

Hi Sawraj, yes of course, you’re welcome to send us your essays for review. Please visit this page to learn how to do it.

This is awesome effort.

Hlo may I snd my essay for review Plzz

Hi Harpreet, to send you essay for correction please visit this page , make a payment and we will send you some easy instructions how to send your task to our teachers.

Leave a Reply

Your email address will not be published. Required fields are marked *

Save my name, email, and website in this browser for the next time I comment.

• SUGGESTED TOPICS
• The Magazine
• Newsletters
• Managing Yourself
• Managing Teams
• Work-life Balance
• The Big Idea
• Data & Visuals
• Reading Lists
• Case Selections
• HBR Learning
• Topic Feeds
• Account Settings
• Email Preferences

The State of Globalization in 2021

• Steven A. Altman
• Caroline R. Bastian

Trade, capital, and information flows have stabilized, recovered, and even grown in the past year.

As the coronavirus swept the world, closing borders and halting international trade and capital flows, there were questions about the pandemic’s lasting impact on globalization. But a close look at the recent data paints a much more optimistic picture. While international travel remains significantly down and is not expected to rebound until 2023, cross-border trade, capital, and information flows have largely stabilized, recovered, or even grown over the last year. The bottom line for business is that Covid-19 has not knocked globalization down to anywhere close to what would be required for strategists to narrow their focus to their home countries or regions.

Cross-border flows plummeted in 2020 as the Covid-19 pandemic swept the world, reinforcing doubts about the future of globalization. As we move into 2021, the latest data paint a clearer — and more hopeful — picture. Global business is not going away, but the landscape is shifting, with important implications for strategy and management.

• Steven A. Altman is a senior research scholar, adjunct assistant professor, and director of the DHL Initiative on Globalization at the NYU Stern Center for the Future of Management .
• CB Caroline R. Bastian is a research scholar at the DHL Initiative on Globalization.

Partner Center

• Business Essentials
• Leadership & Management
• Credential of Leadership, Impact, and Management in Business (CLIMB)
• Entrepreneurship & Innovation
• Digital Transformation
• Finance & Accounting
• Business in Society
• For Organizations
• Support Portal
• Media Coverage
• Founding Donors
• Leadership Team

• Harvard Business School →
• HBS Online →
• Business Insights →

Business Insights

Harvard Business School Online's Business Insights Blog provides the career insights you need to achieve your goals and gain confidence in your business skills.

• Career Development
• Communication
• Decision-Making
• Earning Your MBA
• Negotiation
• News & Events
• Productivity
• Staff Spotlight
• Student Profiles
• Work-Life Balance
• AI Essentials for Business
• Alternative Investments
• Business Analytics
• Business Strategy
• Business and Climate Change
• Design Thinking and Innovation
• Digital Marketing Strategy
• Disruptive Strategy
• Economics for Managers
• Entrepreneurship Essentials
• Financial Accounting
• Global Business
• Launching Tech Ventures
• Leadership Principles
• Leadership, Ethics, and Corporate Accountability
• Leading with Finance
• Management Essentials
• Negotiation Mastery
• Organizational Leadership
• Power and Influence for Positive Impact
• Strategy Execution
• Sustainable Business Strategy
• Sustainable Investing
• Winning with Digital Platforms

4 Effects of Globalization on the Environment

• 15 Apr 2021

Globalization —defined in the online course Global Business as the increased flow of goods, services, capital, people, and ideas across international boundaries—has brought many changes in its wake.

While globalization can positively and negatively impact society, its effect on the environment is primarily negative. Here’s a breakdown of how globalization impacts society and the environment and what business leaders can do to reduce these negative consequences.

How Does Globalization Affect Society?

The world has become more connected than ever before through the increase in technological advancements and economic integrations. Advanced economies are formed as domestic businesses transform into international ones and further contribute to the spread of technology around the world.

There are several benefits of globalization , such as increased international trade and cooperation and less international aggression. Social globalization —the sharing of ideas and information between countries—has led to innovation in the medical, technological, and environmental preservation industries.

Additionally, globalization has improved the quality of life in several developing nations. This includes implementing efficient transportation systems and ensuring accessibility to services such as education and healthcare.

However, globalization can also have negative effects on society, such as increased income inequality and substandard working conditions in developing countries that produce goods for wealthier nations. Income inequality is directly related to globalization as it further increases the gap between more advanced and developing areas of a nation. As a result, it can also increase the risk of societal violence.

Along with its societal effects, globalization has a lasting impact on the environment—and typically not a positive one.

Access your free e-book today.

What Are the Effects of Globalization on the Environment?

1. Increased Transport of Goods

One of the primary results of globalization is that it opens businesses up to new markets in which they can sell goods and source labor, raw materials, and components.

Both of these realities mean finished products travel farther now than ever before—potentially halfway around the globe. In the past, products were more likely to be produced, sold, and consumed locally. This increased transport of goods can impact the environment in several ways, including:

• Increased emissions: The farther a product travels, the more fuel is consumed, and a greater level of greenhouse gas emissions is produced. According to a report by the International Transport Forum , CO2 emissions from transport will increase 16 percent by 2050. These emissions contribute to pollution, climate change , and ocean acidification around the world and have been shown to significantly impact biodiversity.
• Habitat destruction: Transportation—especially when land-based—requires infrastructure like roads and bridges. The development of such infrastructure can lead to issues including habitat loss and pollution. The more ships that travel by sea, the greater the chances for major oil spills or leaks that damage the delicate marine environment.
• Invasive species: Every shipping container and vessel presents an opportunity for a living organism—from plants to animals to fungus—to hitch a ride to a new location where it can become invasive and grow without checks and balances that might be present in its natural environment.

2. Economic Specialization

One often-overlooked side effect of globalization is that it allows nations and geographical regions to focus on their economic strengths while relying on trading partners for goods they don’t produce themselves. This economic specialization often boosts productivity and efficiency.

Unfortunately, overspecialization can threaten forest health and lead to serious environmental issues, often in the form of habitat loss, deforestation, or natural resource overuse. A few examples include:

• Illegal deforestation in Brazil due to an increase in the country’s cattle ranching operations, which requires significant land for grazing
• Overfishing in coastal areas that include Southeast Asia, which has significantly contributed to reduced fish populations and oceanic pollution
• Overdependence on cash crops, such as coffee, cacao, and various fruits, which has contributed to habitat loss, especially in tropical climates

It’s worth considering that globalization has allowed some nations to specialize in producing various energy commodities, such as oil, natural gas, and timber. Nations that depend on energy sales to fund a large portion of their national budgets, along with those that note “energy security” as a priority, are more likely to take intervening actions in the market in the form of subsidies or laws that make transitioning to renewable energy more difficult.

The main byproduct of these energy sources comes in the form of greenhouse gas emissions, which significantly contribute to global warming and climate change.

3. Decreased Biodiversity

Increased greenhouse gas emissions, ocean acidification, deforestation (and other forms of habitat loss or destruction), climate change, and the introduction of invasive species all work to reduce biodiversity around the globe.

According to the World Wildlife Fund’s recent Living Planet Report , the population sizes of all organisms—including mammals, birds, fish, amphibians, and reptiles—have decreased 68 percent since 1970. Latin America and Africa—two rapidly developing regions important to global trade—have seen disproportionate levels of biodiversity loss, especially among environmentally sensitive fish, reptiles, and amphibians.

While this decrease in biodiversity has many causes, it’s widely believed that the issues listed above have contributed in part.

4. Increased Awareness

While many of globalization’s environmental effects have been negative, its increase has heightened environmental awareness worldwide.

Greater connectivity and higher rates of international travel have made it easier than ever for individuals to see the effects of deforestation, habitat loss, and climate change on the environment. This, in turn, has contributed to new laws, regulations, and processes that limit negative effects.

Globalization as a Threat and an Opportunity

Globalization has allowed society to enjoy many benefits, including increased global cooperation, reduced risk of global conflict, and lower prices for goods and commodities. Unfortunately, it’s also led to serious negative effects on the environment.

Since it isn’t feasible for globalization to end or reverse, it’s likely the situation will worsen until nations, governing bodies, and other organizations are compelled to implement laws and regulations that limit negative effects.

Businesses and industries that operate globally have an incentive to take whatever voluntary actions they can to reduce the potential for negative consequences. Doing so can not only provide an organization greater control over its initiatives, but also a powerful marketing and communication tool .

Some ways businesses address climate change include:

• Transitioning to renewable energy sources
• Choosing greener infrastructures or equipment
• Reducing energy consumption
• Creating credible climate transition plans
• Raising awareness among employees

In addition, investing in renewable energy and packaging, embracing responsible land-use management, and shifting goods production to move closer to the end customer are all viable options that businesses can and should consider. The challenge lies in balancing a desire to embrace corporate social responsibility with the need to turn a profit and run a successful business.

Are you interested in breaking into a global market? Sharpen your knowledge of the international business world with our four-week Global Business course. In addition, explore our Business and Climate Change course to help your organization adapt to and embrace business risks and opportunities created by climate change, as well as our other online courses related to business in society .

This post was updated on February 28, 2024. It was originally published on April 15, 2021.

About the Author

Question and Answer forum for K12 Students

What is Globalisation? Advantages and Disadvantages of Globalisation

Advantages and Disadvantages of Globalisation: Globalisation implies the speedup in exchanges and movement (of goods and services, capital, human beings, or even cultural practices) all across the globe. One of the globalisation effects is that it increases and encourages the interactions between the various regions and populations worldwide. Although globalisation was necessary for development, there are also some disadvantages to it. In this writing, we will discuss the pros and cons of globalisation.

What is Globalisation? Advantages and Disadvantages of Globalisation 2021

Advantages of globalisation, disadvantages of globalisation.

• Comparison Table for Advantages and Disadvantages of Globalisation
• FAQs on Pros and Cons of Globalisation

In international economics, globalisation can be defined as the web of relationships between the economies worldwide through international investments and trade. While the history of globalisation travels back to ancient times, the modern era started in the early nineteenth century.

The opposite of globalisation — also known as free-market trade across the borders — is protectionism. This economic policy attempts at protecting domestic businesses from foreign competitions and labour markets, generally by imposing trade barriers such as tariffs.

As a result of globalisation, people all over the world enjoy many advantages.

• Transfer of Technology: The transfer of technology all over the globe is excellent for us. Any country can choose to borrow the technology by the agreement and implement it in their country for the overall development. People can easily be in touch with people from any part of the world by using advanced technologies at a minimal cost, effort, and time.
• Better Services: Globalisation always offers us better services. With technological advancement, services such as electricity supply, water supply, internet, mobile networking, and other services have become more accessible and better than before. Easy internet access throughout the world is also the contribution of globalisation.
• Standardisation of Living: The critical process of globalisation is the integration of economics, enabling countries to fight against problems like poverty and improve people’s living standards. Many researchers have stated that when any country opens up its trade to the world, its economic growth rate is faster, and the living standards tend to improve.
• Development of Infrastructure: Technological advancements and their spread throughout the globe help in improving the country’s infrastructure. Governments are more enabling of delivering their services to the citizens. Development of the infrastructure implies the overall development of the respective countries. Here it is essential to say that the economic growth and development of a country’s infrastructure are compatible with each other.
• Foreign Exchange Reserves: By globalisation, countries are able to build foreign exchange reserves due to the international financial flows.
• Economic Growth: Globalisation requires optimum utilisation of the resources wherein the deficit resources are procured, and surplus resources are exported to various other countries. This guarantees overall economic growth.
• Contribution to the World GDP Growth Rate: Globalisation guarantees the contribution of each country to the world GDP growth rate.

The globalisation keeps doing well to us is not always true. It impacts our lives in a multidimensional manner. So, it has a few disadvantages as well.

Growing Inequality: Globalisation increases inequality throughout the globe by expanding specialisation and trade. Even though profession and trade amp up the per-capita income, it might cause relative poverty.

To explain this, we will use an example. All dominated MNCs around the globe are located in the US. All these businesses are buying cheap labour from developing or underdeveloped countries for product manufacturing or assembling. India, China and Africa are significant examples of this. It increases the employment rates of these countries, but they are far behind lagging relatively developed countries. Again, these companies coming to such countries for cheap labour also deprive the country’s people of working. So, it showcases that relative unemployment and poverty are being created in these developed countries as well.

Increasing the Unemployment rate: Globalisation is increasing the unemployment rate. Where individuals are getting jobs, how is this possible? Here is the explanation.

Globalisation needs higher-skilled workers at cheaper rates. But countries where the Institutions are comparatively weaker, aren’t capable of producing highly skilled workers. As a result of which, the unemployment rates are increasing in these countries.

When foreign companies invest primarily in developing countries, they hire workers from that country. In some scenarios, their wages are significantly lower compared to the other developed countries – the demand for such employees in developed countries is much lower. Moreover, along with the emergence of the Global Economic Crisis, jobs are at risk.

Trade Imbalance: The trade balance refers to the value ratio between the country’s export and import services and goods. Due to globalisation, any country can trade to any part of the globe.

In some instances, the developing countries are highly dependent on developed countries for import goods, but the export capabilities are lower than the imports. The imbalance in trade has been taking place. So, trade imbalance balances values between any country’s import and export of goods and services. It is also known as trade deficits. Trade imbalance might be an increase in the developed countries by the competitors.

Environmental Loots: The pace at which industrialisation is increasing is an outcome of globalisation. Industrialisation encourages economic growth. However, it harms the environment. Globalisation destroys nature, and it hurts humans very severely.

Let’s try to understand the scenario with the example. Coca-Cola world’s leading soft drink company. This company consumes a large amount of water to make soft drinks. In a north Indian state, Uttar Pradesh, a bottling plant of Coca-Cola, was shut down by the government order due to the local farmers’ too much water usage.

In Kerala, a south Indian state, the Coca-Cola plant was also shut down due to water pollution supplied to the local communities. Also, MNCs are using the natural resources from different countries extensively for personal gain. Various chemical industries are highly harmful to the health of humans by polluting the soil, water, air.

Comparison Table for Advantages and Disadvantages of Globalisation

Faq’s on pros and cons of globalisation.

Question 1. How does globalisation encourage market extension?

Answer: Above all, Globalization encourages market extension. It offers an opportunity for domestic companies to go global. For instance, domestic companies can be witnessing saturation in demand for their services or products. Still, by globalisation, domestic companies are able to sustain and satisfy the needs of foreign customers.

Question 2. How does globalisation offer affordable products?

Answer: With access to the latest technologies, the countries are able to provide products to their citizens at affordable rates. Globalisation encourages competition in the domestic economies and its endeavour for competing against the competition, companies lessen the product price or following the penetration pricing policy.

Question 3. When did globalisation start?

Answer: The first wave of globalisation began in the 19th century in the year 1914. This started in order to change with the first globalisation wave, which roughly took place over the century ending in 1914.

Costs and benefits of globalisation

Globalisation is a complex and controversial issue. This is a look at some of the main benefits and costs associated with the greater globalisation of the world economy.

Definition of Globalisation The process of increased integration and co-operation of different national economies. It involves national economies becoming increasingly inter-related and integrated.

Globalisation has involved :

• Greater free trade.
• Greater movement of labour.
• Increased capital flows.
• The growth of multi-national companies.
• Increased integration of global trade cycle.
• Increased communication and improved transport, effectively reducing barriers between countries.

Summary of costs/benefits

Benefits of globalisation

1. Free trade is a way for countries to exchange goods and resources. This means countries can specialise in producing goods where they have a comparative advantage (this means they can produce goods at a lower opportunity cost). When countries specialise there will be several gains from trade:

• Lower prices for consumers
• Greater choice of goods, e.g food imports enable a more extensive diet.
• Bigger export markets for domestic manufacturers
• Economies of scale through being able to specialise in certain goods
• Greater competition

See: Benefits of Free Trade

2. Free movement of labour

Increased labour migration gives advantages to both workers and recipient countries. If a country experiences high unemployment, there are increased opportunities to look for work elsewhere. This process of labour migration also helps reduce geographical inequality. This has been quite effective in the EU, with many Eastern European workers migrating west.

Also, it helps countries with labour shortages fill important posts. For example, the UK needed to recruit nurses from the far east to fill shortages.

• However, this issue is also quite controversial. Some are concerned that the free movement of labour can cause excess pressure on housing and social services in some countries. Countries like the US have responded to this process by actively trying to prevent migrants from other countries.

See also: free movement of labour

3. Increased economies of scale

Production is increasingly specialised. Globalisation enables goods to be produced in different parts of the world. This greater specialisation enables lower average costs and lower prices for consumers.

4. Greater competition

Domestic monopolies used to be protected by a lack of competition. However, globalisation means that firms face greater competition from foreign firms.

5. Increased investment

Globalisation has also enabled increased levels of investment. It has made it easier for countries to attract short-term and long-term investment. Investment by multinational companies can play a big role in improving the economies of developing countries.

Costs of globalisation

1. Free trade can harm developing economies

Developing countries often struggle to compete with developed countries, therefore it is argued free trade benefits developed countries more. There is an infant industry argument which says industries in developing countries need protection from free trade to be able to develop. However, developing countries are often harmed by tariff protection, that western economies have on agriculture. Paradox of Free Trade

2. Environmental costs

One problem of globalisation is that it has increased the use of non-renewable resources. It has also contributed to increased pollution and global warming. Firms can also outsource production to where environmental standards are less strict. However, arguably the problem is not so much globalisation as a failure to set satisfactory environmental standards.

3. Labour drain

Globalisation enables workers to move more freely. Therefore, some countries find it difficult to hold onto their best-skilled workers, who are attracted by higher wages elsewhere.

4. Less cultural diversity

Globalisation has led to increased economic and cultural hegemony. With globalisation there is arguably less cultural diversity; however, it is also led to more options for some people.

5. Tax competition and tax avoidance

Multinational companies like Amazon and Google, can set up offices in countries like Bermuda and Luxembourg with very low rates of corporation tax and then funnel their profits through these subsidiaries. This means they pay very little tax in the countries where they do most of their business. This means governments have to increase taxes on VAT and income tax. It is also seen as unfair competition for domestic firms who don’t use the same tax avoidance measures.

The greater mobility of capital means that countries have sought to encourage inward investment by offering the lowest corporation tax. (e.g. Ireland offers very low tax rate). This has encouraged lower corporation tax, which leads to higher forms of other tax. (see: Tax competition )

• Impact of globalisation
• The winners and losers from globalisation
• The effects of globalisation for developed and developing countries
• What is globalisation?
• What is globalisation? at Guardian

36 thoughts on “Costs and benefits of globalisation”

thaannkkss GREAT INFO

hey guys i’m looking for the benefits of developing countries and developed countries and have had no luck could anyone help?

I’ve just been reading a Stiglitz article (he used to be chief in the IMF/World Bank) and “globalization of knowledge” has been one benefit for developing countries. But sadly it depends on the side that you’re on. Economists will reel off the benefits of trade between countries, capital flow and labour flow. Anthropologists and social scientists will explain a lot of inequalities – the rich on a global scale have got richer and the poor, well guess what? yep, not a lot has happened there. Social science will detail (Stiglitz does too) how developed countries have profited off the poor, even via aid agencies and finance institutions such as the World Bank, IMF and WTO, who are supposed to be acting in developing countries best interests.

I think you can tell what side I’m on. Yes, I study anthropology and doing an essay on development as we speak 😉

what are the benefits of globalisation on both develoed and developing

• Pingback: Benefits and Problem with Globalization | Tae haeng Lee

hey I am looking for how globalization affect reduction of cost

Hello, I am wondering if there are any disadvantages to consumer because of globalization. of course there are numerous advantages. can anyone please answer me. I would be grateful. thanks

if it were cheaper for a firm to produce/manufacture a good somewhere else can cause loss of jobs for people working for the firm. major multinational firms paying less tax in another country and not in the country they are earning will cause the government rely more heavily on smaller firms and consumers to gain tax mula.

Are those the only advantages of globalization on an economy?

what is the cost and benefits of globalisation on less developed countries?

Imagine thinking you are qualified to help people learn about globalization but not even knowing how to spell it.

We use British-English not American-English

How is less cultural diversity a cost of globalisation. Wouldn’t cultures spread worldwide from globalisation

no, globalization makes it easier than ever to access foreign culture, including food, movies, music, and art. This free flow of people, goods, art, and information is the reason you can have Thai food delivered to your apartment as you listen to your favorite UK-based artist or stream a Hollywood movie.

Once they get back they will be there and they are going on a walk in and the other is the same way as you can see the sun and earth is earth sun sky earth sun sun sky sun earth earth

A very useful piece of work

Love economics guys, absolutely love it, keep up this page, its greaaaaaaaaaatttttttt!!!!!!!!!!!!!!

Comments are closed.

Talk to our experts

1800-120-456-456

• Globalisation Essay

Essay on Globalisation

Globalization means the integration of economies and societies through the flow of information, ideas, technology, goods, services, capital, finance, and people. The true meaning of Globalization in a broad sense is connecting in all areas of human life. It is the process by which other companies or organizations enhance their international reputation or start operating internationally. 

Globalization began thousands of years ago when people and companies bought and sold in distant lands. In the Middle Ages, Central Asia was connected to China and Europe via the famous Silk Road. After World War II and the last two decades, governments of many countries have adopted free-market economies. They have greatly increased their own production potential and created countless new opportunities for international trade and investment. New routes and means to transport goods have been discovered, which has allowed the people to expand their business easily and efficiently. 

The government has reduced all trade barriers and concluded new international agreements to promote trade in goods, services and investment. This profitable action has created opportunities for international trade. In foreign markets, companies with these new opportunities set up new factories and establish production and marketing relationships with foreign partners. Hence, Globalization is defined as an international industrial and financial enterprise.

Overview of Globalization

Globalization means the assimilation of economics and societies through the flow of information, ideas, technologies, goods, services, capital, finance, and people. The real meaning of Globalization in a broad sense is connectivity in all aspects of human life. It is the process where the businesses or other organizations expand international authority or start operating on an international scale.

How the Existence of Globalization Came Into Being?

Globalization had started many thousands of years ago when people and corporations were buying and selling across lands at great distances. In the middle age, Central Asia connected with China and Europe through the famed Silk Road. After the Second World War II and during the last two decades, the governments of many countries have adopted free-market economic systems. They increased their own productive potential immensely and created innumerable new opportunities for international trade and investment.

The governments have reduced all barriers to commerce and established new international agreements to promote trade in goods, services and investments. These beneficial measures gave rise to opportunities for global trade. With these new opportunities in the foreign markets, corporations established new factories and started production and marketing alliances with foreign partners. Hence, Globalization is defined as an international industrial and financial business structure.

Advantages and Disadvantages

The frontiers of the state with increased confidence in the market economy and renewed policies in the private capital and resources, a process of structural adjustment spurred by the studies and with the support of the World Bank and other international organizations have started in many of the developing countries. Globalization has also brought in new opportunities to developing countries. Greater access to developed country markets and technology transfer has promised to improve their productivity and higher standards. 

At the same time, Globalization has also created challenges like growing inequality across and within nations, instability in the financial market and environmental deterioration. Globalization is a fascinating exhibition that can be understood as a global system of competition and connectivity. It has created tough competition among countries and global corporations.

Impact of Globalization in India

The British Colonial rule had destroyed the self-sufficient economy of India and left India to be the poorest Independent country. Our first Prime Minister gave preference to a mixed economy to boost the economic condition of the country. Public sectors were set up along with the private enterprises, but because of the socialistic model of the economy, the new strategy did not produce profitable results. Due to this, a number of public sectors became sick and the growth rates of production began to fall. 

During that time, the poverty of the people in India was increasing at an alarming rate and because of low domestic savings and acute balance of payment crisis, there was no adequate capital for investment. During that time of crisis, Prime Minister PV Narsimha Rao introduced the policy of liberalization, privatization to overcome the financial situation. 

India opened up to Globalization after the economic policy of 1991 came into force. Mounting debts and pressure from the International Monetary Fund drove the nation to go global. The process of Globalization has been an integral part of the recent economic growth of India. Globalization has played a very significant role in the growth of export, leading to the expansion of the job market in India. One of the major sectors of Globalization in India has been in the growth of outsourced IT and Business Process Outsourcing services. There has been an incredible increase in the number of skilled professionals in India employed by domestic and foreign companies to cater service to the customers globally, especially in the USA and Europe. 

There was not a doubt that Globalization in India brought a monumental change in the living standards of the people. People in India realized many benefits from Globalization. The establishment of multinational companies generating billions of jobs and access to umpteen numbers of brands and an increase in the forex reserves of the country took India to a higher platform globally. Despite this monumental change in the economy of the country, India also faced the challenges of severe competition from the foreign market and the domestic producers started fearing marginalization and pulverization because of the better quality products produced by the foreign producers.

Globalization had both desirable and undesirable consequences for India and the world. Even though it has accelerated progress in some countries, it has also widened the gap between the rich and the poor.

The impact of Globalization has been both positive and negative on the entire world, but we can surely hope for more advancement in the global economy due to this process.

FAQs on Globalisation Essay

1. How Did Globalization Help India to Improve the Economic Conditions?

Globalization generated umpteen employment opportunities for the people of India by establishing multinational companies. The policy of liberalization and privatization invited foreign traders to do business with India. This has increased the inflow of men, money, material, labor, technology, etc., from foreign countries to India. People have access to foreign brands and the living standards have improved drastically.

2. How is Globalization a Threat to Domestic Producers?

The domestic producers fear marginalization and pulverization because of the entry of foreign and better quality products.

3. What are the advantages and disadvantages of Globalization?

With increasing confidence in market economies and new policies on private capital and resources, many developing countries are beginning to adapt to developments with the support of the World Bank and other international institutions involved in research and development. Globalization also offers new opportunities for developing countries. Greater access to markets in developed countries and the transfer of technology will increase their productivity and demand.

At the same time, Globalization has created challenges such as increasing inequality between and within countries, instability of financial markets and environmental degradation. Globalization is an interesting exhibition that can also be seen as a system of competition and international relations. This has created intense competition between countries and international companies. 

4. What do you mean by Globalization?

Globalization means the integration of economies and societies through the flow of information, ideas, technology, goods, services, capital, finance, and people. The true meaning of Globalization in a broad sense is a connectedness in all areas of human life. It is the process by which other companies or organizations enhance their international reputation or start operating internationally. Globalization has its own benefits and drawbacks. We can learn more about Globalization and how to write an essay on it in detail on the Vedantu website, which has all the necessary materials that students need in order to write an essay on Globalization. 

5. How can Globalization help India improve its economic situation?

In our present times, Globalization has been a boon to many people as it not only allows companies to expand their business but also makes things accessible for everyone. In a simple sense, we can say that it helps in connecting people with the world. Globalization has created many job opportunities in India through the creation of multinational companies. Policies of liberalization and privatization have encouraged foreign traders to trade with India. This has increased the number of people, money, materials, labor, technology and so on—inflows from abroad to India. People have access to foreign brands and the standard of living has improved significantly.

6. How does Globalization threaten domestic producers?

Domestic producers are afraid of marginalization and due to the entry of foreign and better quality products into the market. Globalization can be associated with increasing income and wealth inequality. Many of the world's poorest people lack access to basic technologies and public goods. They are excluded from treatment. Some critics of globalization point to the loss of economic and cultural diversity as international multinational giants and brands dominate domestic markets in many countries. Globalization can hinder competition if international companies with dominant brands and high technology gain a foothold in key markets, be it telecommunications, the automotive industry, and so on.

7. What are the main industries that have grown tremendously because of Globalization?

The integration of national economies into the global economy is one of the most important developments of the last century. This process of integration, often referred to as Globalization, has manifested itself in a tremendous increase in cross-border trade.

The outsourcing business has grown exponentially due to Globalization. The main industries resulting from Globalization are trade and commerce. Automobile companies, clothing manufacturers and transportation, are the three main industries taken over as a result of Globalization.

Essay on Globalization for Students and Children

500+ words essay on globalization.

Globalization refers to integration between people, companies, and governments. Most noteworthy, this integration occurs on a global scale. Furthermore, it is the process of expanding the business all over the world. In Globalization, many businesses expand globally and assume an international image. Consequently, there is a requirement for huge investment to develop international companies.

How Globalization Came into Existence?

First of all, people have been trading goods since civilization began. In the 1st century BC, there was the transportation of goods from China to Europe. The goods transportation took place along the Silk Road. The Silk Road route was very long in distance. This was a remarkable development in the history of Globalization. This is because, for the first time ever, goods were sold across continents.

Globalization kept on growing gradually since 1st BC. Another significant development took place in the 7th century AD. This was the time when the religion of Islam spread. Most noteworthy, Arab merchants led to a rapid expansion of international trade . By the 9th century, there was the domination of Muslim traders on international trade. Furthermore, the focus of trade at this time was spices.

True Global trade began in the Age of Discovery in the 15th century. The Eastern and Western continents were connected by European merchants. There was the discovery of America in this period. Consequently, global trade reached America from Europe.

From the 19th century, there was a domination of Great Britain all over the world. There was a rapid spread of international trade. The British developed powerful ships and trains. Consequently, the speed of transportation greatly increased. The rate of production of goods also significantly increased. Communication also got faster which was better for Global trade .

Finally, in 20th and 21st -Century Globalization took its ultimate form. Above all, the development of technology and the internet took place. This was a massive aid for Globalization. Hence, E-commerce plays a huge role in Globalization.

Get the huge list of more than 500 Essay Topics and Ideas

Impact of Globalization

First of all, Foreign Direct Investment (FDI) increases at a great rate. This certainly is a huge contribution of Globalization. Due to FDI, there is industrial development. Furthermore, there is the growth of global companies. Also, many third world countries would also benefit from FDI.

Technological Innovation is another notable contribution of Globalization. Most noteworthy, there is a huge emphasis on technology development in Globalization. Furthermore, there is also technology transfer due to Globalization. The technology would certainly benefit the common people.

The quality of products improves due to Globalization. This is because manufacturers try to make products of high-quality. This is due to the pressure of intense competition. If the product is inferior, people can easily switch to another high-quality product.

To sum it up, Globalization is a very visible phenomenon currently. Most noteworthy, it is continuously increasing. Above all, it is a great blessing to trade. This is because it brings a lot of economic and social benefits to it.

Customize your course in 30 seconds

Which class are you in.

• Travelling Essay
• Picnic Essay
• Our Country Essay
• My Parents Essay
• Essay on Favourite Personality
• Essay on Memorable Day of My Life
• Essay on Knowledge is Power
• Essay on Gurpurab
• Essay on My Favourite Season
• Essay on Types of Sports

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Download the App

• Accountancy
• Business Studies
• Commercial Law
• Organisational Behaviour
• Human Resource Management
• Entrepreneurship
• CBSE Class 12 Indian Economic Development Notes

Chapter 1: Indian Economy on the Eve of Independence

• Indian Economy on the eve of Independence
• Agriculture Sector on the Eve of Independence
• Industrial Sector on the Eve of Independence
• Foreign Trade and Demographic Condition on the Eve of Independence
• Occupational Structure and Infrastructure on the Eve of Independence
• Policies of British Rulers that led to Exploitation of Indian Economy
• Impact of Partition on the Indian Economy

Chapter 2: Indian Economy (1950-1990)

• Indian Economy (1950-1990): Economic System adopted by Independent India
• Economic Planning during 1950-1990
• India’s Five Year Plan
• Evaluation (Achievements and Failures) of Economic Planning till 1991
• Agriculture during 1950-1990
• Policies or Measures to Solve Agricultural Problems during 1950-1990
• Green Revolution: Impacts, Achievements and Shortcomings
• Debate Over Subsidies to Agriculture
• Industries during 1950-1990
• Industrial Policy Revolution, 1956
• Foreign Trade during 1950-1990|Trade Policy: Import Substitution
• P.C. Mahalanobis and His Contribution

Chapter 3: Liberalisation, Privatisation, and Globalisation: An Appraisal

• Economic Reforms: Need and Criticism of Economic Reforms
• New Economic Policy 1991: Objectives and Components
• Liberalisation: Meaning, Economic Reforms Adopted by Indian Government and Objectives
• Privatisation: Meaning, Disinvestment, Rationale and Obstacles to Privatisation in India

Globalisation: Meaning, Advantages, Disadvantages and Types

• World Trade Organisation (WTO): Features, Functions and Objectives
• Impact of Liberalisation, Privatisation, and Globalisation
• Concept and Features of Demonetization
• What is GST? Types, Features, Benefits, Input Tax Credit, GST Council

Chapter 4: Human Capital Formation in India

• Human Capital Formation: Meaning, Sources, Role and Importance
• Difference between Physical Capital and Human Capital
• Sources of Human Capital Formation
• Problems of Human Capital Formation
• Role of Human Capital on Economic Growth
• Difference between Human Capital and Human Development
• Human Capital Formation in India: Growth of the Education Sector in India

Chapter 5: Rural Development

• Rural Development: Meaning, Significance, Process and Evaluation
• Rural Credit: Meaning, Purpose, Need, Sources and Critical Appraisal
• Sources of Rural Credit
• Agricultural Marketing: Meaning, Measures, Defects and Alternate Marketing Channels
• Agricultural Diversification: Needs, Benefits and Types
• Organic Farming: Meaning, Benefits, Challenges and Future Prospects of Organic Farming

Chapter 6: Employment: Growth, Informalisation and Other Issues

• Employment: Meaning, Importance, Basic Terms of Employment and Participation of people in Employment
• Forms of Employment: Self and Wage Employment
• Distribution of Employment
• Growth and Changing Structure of Employment
• Informalisation of Indian Workforce
• Difference between Formal Sector and Informal Sector
• Unemployment: Meaning, Causes, Effects and Remedial Measures
• Unemployment and its Types

Chapter 7: Environment and Sustainable Development

• Environment: Meaning, Functions, and Reasons for Environmental Crisis
• Environmental Degradation in India
• Causes and Impact of Environmental Degradation
• What are the measures to control Environmental Degradation ?
• Sustainable Development: Meaning, Objectives and Strategies

Chapter 8: Comparative Development Experiences of India and its Neighbours

• Great Leap Forward (GLF) | Meaning, Components and Effects
• Comparative Study between India, China, and Pakistan
• Appraisal of Development Strategies of India, China, and Pakistan

CBSE Previous Year Papers (2020)

• CBSE Class 12 Economics Solved Question Paper 2020 - Set 1
• CBSE Class 12 Economics Solved Question Paper 2020 (Set 58/1/2)
• Class 12 Economics Solved Question Paper 2020 (Set 58/1/3)
• CBSE Class 12 Economics Solved Question Paper 2020 - Set 2
• CBSE Class 12 Economics Solved Question Paper 2020 - Set 2 (58/2/2)
• CBSE Class 12 Economics Solved Question Paper 2020 - Set 2 (58/2/3)
• CBSE Class 12 Economics Solved Question Paper 2020 - Set 3
• CBSE Class 12 Economics Solved Question Paper 2020 - Set 3 (58/3/2)
• CBSE Class 12 Economics Solved Question Paper 2020 - Set 3 (58/3/3)
• CBSE Class 12 Economics Solved Question Paper 2020 - Set 4 (Code No. 58/4/1)
• CBSE Class 12 Economics Solved Question Paper 2020 - Set 4 (58/4/2)
• CBSE Class 12 Economics Solved Question Paper 2020 - Set 4 (58/4/3)
• CBSE Class 12 Economics Solved Question Paper 2020 - Set 5 (58/5/1)
• CBSE Class 12 Economics Solved Question Paper 2020 - Set 5 (58/5/2)
• CBSE Class 12 Economics Solved Question Paper 2020 - Set 5 (58/5/3)

Chapters not in Current CBSE Syllabus (2024-2025)

Chapter: poverty.

• Poverty : Meaning, Characteristics, and Measures
• Difference between Relative Poverty and Absolute Poverty
• Poverty Line: Meaning, Determination, Types and Criticism
• Trends and Dimensions of Poverty in India
• Impact and Causes of Poverty
• What are the Government Approach to remove Poverty?
• Poverty Alleviation Programmes in India
• Measures to Remove Poverty
• Anti-Poverty Measures

Chapter: Infrastructure

• Infrastructure: Meaning, Characteristics, Importance and Types
• Energy Infrastructure
• Difference between Commercial and Non-commercial Sources of Energy
• Conventional vs Non-Conventional Sources of Energy
• Health Infrastructure in India
• Power Infrastructure: Sources, Challenges and Measures to meet Power Crisis
• Difference between Economic Infrastructure and Social Infrastructure

What is Globalisation?

Globalisation is the process of integrating a country’s economy with the global economy by removing restrictions on trade and capital flows. Simply put, globalisation is the process of interaction and union of individuals, organisations, and governments on a worldwide scale. It entails the formation of networks and initiatives aimed at breaking down social, economic, and geographical barriers. Globalisation aims to create interactions between events such that those happening far away can influence those happening in India. It has a variety of aspects and is the outcome of the combination of several strategies intended to change the world to make it more interdependent and integrated. In other words, the primary objective of globalisation is to eliminate borders. 

The integration of a nation’s economy with the global economy is commonly defined as globalisation .

Table of Content

Causes of Globalisation

Advantages of globalisation, disadvantages of globalisation, types of globalisation, changes brought about by the indian economy’s globalisation.

• The New Economic Policy identified a list of high-tech and high-investment priority industries, which give automatic permission to foreign direct investment up to 51% of foreign equity. 
• Automatic approval is given for foreign technology agreements in high-priority industries up to a maximum of ₹1 crore. It is no longer necessary to obtain approval to hire foreign technicians or test locally developed technology abroad.
• The rupee was devalued by around 20% in July 1991 to adjust the value of the Indian currency on a global scale. It increased the inflow of foreign capital, encouraged exports, and discouraged imports.
• To further connect the Indian economy with the global economy, the Indian rupee was declared partially convertible in the Union Budget of 1992–1993 and then fully convertible in the 1993-1994 budget.
• The government has launched a new export-import policy that would last for five years to set up the foundation for India’s international commerce to become more globally oriented. The strategy eliminated all limitations and constraints on international trade and gave the market more power over exports and imports.
• The government has significantly changed the customs tariff to push the Indian economy into the arena of international competition. As a result, the budget for 2007–2008 reduced the peak rate of customs duty from 250 percent to 10 percent.

The following are the primary causes of globalisation:

• Facilitating international travel with better transportation.
• Making communication and information sharing easy through advances in technology.
• Reduction of tariff barriers and promoting world trade.
• Expanding the world’s media.

1. Employment Growth: 

The creation of Special Economic Zones (SEZs) has increased the number of new jobs that are available. It is highly beneficial to include the export processing zones (EPZs) center in India in order to employ lakhs of people. India’s affordable labour is an additional element. As a result, large corporations hire workers from other areas, which leads to an increase in employment.

2. Increase in Compensation: 

As a result of globalisation, international corporations now offer more skill and expertise than domestic companies, which has led to an increase in compensation. This opportunity also caused changes to the managerial structure.

3. High Level of Living: 

With globalisation, both the Indian economy and the average person’s standard of living have improved. This shift is visible in a person’s purchasing habits, particularly among those who work for overseas corporations. Thus, a higher standard of life and business development is occurring in many places.

4. Encourages Mutual Understanding across Cultures:

It improves accessibility to travel and encountering diverse cultures as a good aspect of globalisation that can foster cooperation and peace on a global scale.

5. Encourages Economic Growth:

Theoretically, globalisation provides less developed nations with access to capital and technology from abroad that they would not otherwise have. Foreign investment can raise the living standards of those countries’ populations.

1. Instability in the Market:

The removal of trade restrictions and increased freedom of movement are cited as reasons why national policies and regional cultures are being undermined by proponents of globalisation. Labour markets are impacted when people cross borders in quest of higher-paying jobs or when businesses outsource work and positions to cheaper labour markets.

What is Outsourcing? One of the significant effects of globalisation is outsourcing. Outsourcing is the practice of contracting out third-party activities that were previously handled by the organisation. For instance, many businesses now contract with other organisations to provide security services. Due to the development of faster methods of communication, especially the development of information technology, it has become more intense in recent times. Modern telecommunication systems allow digitized text, speech, and visual information related to these services to be transmitted in real-time across continents and national boundaries.

2. Causes Environmental Damage:

Transporting products and people across borders releases greenhouse gases and has a negative impact on the environment. Industries like fishing and logging frequently relocate to areas with the best economic opportunities or rules, which has led to overfishing and deforestation in some regions of the world.

3. Encourages Worldwide Economic Recessions:

A greater likelihood of global recessions exists in tightly integrated global markets. A good illustration of how interconnected global markets are and how financial issues in one country or region can quickly influence other parts of the world is the 2007–2009 financial crisis and the Great Recession. The ability of individual countries to effectively use monetary and fiscal policy to govern the national economy is diminished by globalisation.

Globalisation can be classified into three types:

1. Economic Globalisation :

The emphasis here is on the integration of international financial markets and the coordination of financial trade. Economic globalisation is represented through free trade agreements like the Trans-Pacific Partnership and the North American Free Trade Agreement. Economic globalisation is greatly influenced by multinational firms, which have business in two or more nations.

2. Political Globalisation: 

This type of globalisation includes policies made by the government that encourages and foster international cooperation on a political, economic, and cultural level. The UN and NATO, for example, are involved in the political globalisation process.

3. Cultural Globalisation:

This element of globalisation mainly focuses on the sociological and technological elements that are generating cultural integration. These include improved communication, widespread use of social media, and access to better and faster transportation.

Please Login to comment...

Similar reads.

• Indian Economic Development

Improve your Coding Skills with Practice

What kind of Experience do you want to share?

What Are the Advantages and Disadvantages of Globalisation?

Following are some of the advantages and disadvantages of globalisation advantages of globalisation: globalisation helps in pooling all the resources together. globalisation helps in the development of underdeveloped countries. globalisation encourages free trade among nations. globalisation creates more employment opportunities disadvantages of globalisation: it may lead to outsourcing of jobs from a native country due to availability of cheap labour in another country. it will benefit the wealthy people more than the poor. it will result in an increase in emission of greenhouse gases that will have a direct impact on the environment..

Write five advantages and five disadvantages of globalisation.

Effects of Globalization

Definition of globalization, drivers of globalization.

Globalization is defined as interaction among different countries in order to develop global economy. It entails political, technological, cultural and political exchanges which are facilitated by infrastructure, transport and communication. Some of the traditional international theories of globalization include Ricardian theory of international trade, Heckscher-Ohlin model and Adam Smith’s model (Scholte, 2005).

For globalization to take place, it must be driven by certain factors. The first factor that drives globalization is competitiveness in the market, which focuses on aspects such as global competitors, interdependence among countries and high two-way trade. The second factor that drives globalization is the government.

The government drives globalization through regulation of marketing activities, provision of technical standards that are compatible and elimination of restrictions imposed on trade and investment procedures. The third factor that drives globalization is cost.

Cost in globalization deals with efficiency in sourcing activities, world economies and emerging technological trends. The fourth factor that drives globalization is market, which covers ordinary needs of customers, channels of world markets and marketing techniques that can be transferred to different regions.

Globalization is associated with both positive and negative effects. Its first positive effect is that it makes it possible for different countries to exchange their products. The second positive effect of globalization is that it promotes international trade and growth of wealth as a result of economic integration and free trade among countries.

However, globalization is also associated with negative effects. Its first negative effect is that it causes unemployment. Since companies compete with their rivals in the market, sometimes they are forced to sack some of their employees in order to reduce salary costs and instead maximize profits. This is common in developing countries, where large numbers of unemployed people live in urban areas.

The second negative effect of globalization is that it promotes terrorism and criminal activities because people, food and materials are allowed to move freely from one country to the other. Individuals with evil intentions take advantage of this freedom and carry out terrorism activities and other crimes (Negative Effects of Globalization, 2013).

Negative Effects of Globalization. (2013). Web.

Scholte, J. (2005). Globalization: A Critical Introduction. New York: Palgrave Macmillan.

• Chicago (A-D)
• Chicago (N-B)

IvyPanda. (2023, November 21). Effects of Globalization. https://ivypanda.com/essays/globalization/

"Effects of Globalization." IvyPanda , 21 Nov. 2023, ivypanda.com/essays/globalization/.

IvyPanda . (2023) 'Effects of Globalization'. 21 November.

IvyPanda . 2023. "Effects of Globalization." November 21, 2023. https://ivypanda.com/essays/globalization/.

1. IvyPanda . "Effects of Globalization." November 21, 2023. https://ivypanda.com/essays/globalization/.

Bibliography

IvyPanda . "Effects of Globalization." November 21, 2023. https://ivypanda.com/essays/globalization/.

• The Law of Comparative Advantage Forms the Basis of International Trade
• Concept of Globalization
• Hecksher-Ohlin Theory and Today’s World Trade
• Globalization, Leadership and Organizational Change
• Is Globalization the Main Culprit for the 2008 Global Financial Crisis?
• Poverty and the Environment
• Politics of Globalization in Taiwan
• The Economics of Globalization In South Korea

• Share full article

Advertisement

The Baffling Theme of This Year’s Met Gala

By Anna Marks

Opinion Staff Editor

On Monday night, a select group of celebrities and fashion designers mounted the steps of the Metropolitan Museum of Art, presenting a litany of costumes for the public to devour. The Met Gala is an annual spectacle of celebrity that raises money for the museum’s Costume Institute , which works to preserve fashion history.

The night’s enduring power can largely be chalked up to the way guests interpret its themed dress code, which changes every year. At its most brilliant, a theme might inspire absurd, campy or daring interpretations by clever designers. At its most exhausting, it inspires famous people to perform vacuous social commentary while attending an event where a ticket reportedly costs as much as $75,000 . In either case, the commentary the theme provokes gives the gala its enduring cultural relevance.

This year’s theme is “The Garden of Time,” based on J.G. Ballard’s dystopian short story about a count who, for a time, prevents a mob from destroying his villa and the works of culture it contains. The story is an allegory warning about the consequences of keeping art out of public view. The most generous reading of the story in the context of the Met Gala is probably that the Costume Institute, by giving art to the masses instead of hiding it away in a place only the wealthy inhabit, averts Ballard’s dystopia.

But there’s also an unfortunate irony in choosing this particular story. Ballard implicitly criticizes the wealthy count’s distance from the public, but the gala essentially celebrates the counts among us.

High culture is available to the public largely because the wealthy, charitably, make it so. But the nature of this gala, with its emphasis on extolling the captivating virtues of celebrity, leaves me wondering whether the event’s organizers misread the story’s critique or were simply blind to it. For a less generous interpretation of the story appears to mock the culture-consuming public.

Consider the greatest threat to the count’s rarefied life: the teeming people, described as struggling laborers and soldiers, who unthinkingly defile his cultural artifacts at the end of the story. Is that how the party’s organizers see the ordinary museum patrons and tourists who will fill the institute’s halls after the cameras are gone?

I hope the organizers simply didn’t think hard enough about the implications of their chosen story. But if they did, they would do well to remember that art, even high fashion, endures because a mass audience witnesses and appends meaning to it.

• open search

From the latest big breakthrough to the most influential and inspiring figures on campus to Pitt in the community, Pittwire is your official source for what’s happening now.

• Health and Wellness
• Technology and Science
• Arts and Humanities
• Community Impact
• Diversity, Equity, and Inclusion
• Innovation and Research
• Our City/Our Campus
• Pitt Magazine
• Features & Articles
• Accolades & Honors
• Ones to Watch
• Announcements and Updates
• Life at Pitt
• Arts & Sciences
• Computing & Information
• Dental Medicine
• Engineering
• General Studies
• Health & Rehabilitation
• Honors College
• Public & Intl Affairs
• Public Health
• Social Work
• COVID-19 Response
• Sustainability
• Undergraduate students
• Kenneth P. Dietrich School of Arts and Sciences

Subscribe to Pittwire Today

These students were published in the journal of science policy and governance.

Undergraduate students in the University of Pittsburgh’s spring 2023 Environmental Law and Policy class published papers in the April issue of the Journal of Science Policy and Governance.

The class’ goal was for students to identify a science policy problem and create something new in recommending potential solutions. The teams of students in environmental studies, environmental science and other Pitt majors were published alongside graduate students, post-doctoral researchers and faculty from highly ranked science departments, medical schools and policy programs.

Yasmine Florent, Mackenzie Nemoto, Ana Rowley, Vanessa Pratt and recent graduate Maria Isabel Villegas (A&S ’24) wrote “Dangers of Oxybenzone in Sunscreens on Coral Reefs: Proposed Policy Approaches.” The second paper, “Mitigating the Invasive Method of Hydraulic Fracturing Through a Phase Out Policy Plan,” was written by Ashlynn Moretti, Madilyn Cianci, Mina Kimak and Savannah Johns (A&S ’23).

Employees, benefits open enrollment is May 1-15

Pitt is launching an office of sustainability in the health sciences, help shape pitt it’s 10-year horizon plan.