11 Main Advantages and Disadvantages of Globalization
Globalization is one of the biggest political topics of our time. It is the idea of a fully integrated world, where every country works together, communicates, trades, and shares information. The biggest reason that this has become such a widespread idea is because of the advancement of technology. People now have the ability to communicate and share ideas with anyone in the world, instantly and with only the click of a button. It may seem like a wonderful theory, having everyone working in harmony for the better of the world, but things are not always as they seem.
The Advantages of Globalization
1. Promotes Global Economic Growth
Most countries are only focused on their own economic growth. With globalization, the shift of thinking would move to a larger level, a global one. This could greatly benefit the entire planet. By countries trading, investing, and providing jobs and labor to one another.
2. Competitive Business
With all industries competing on a global level businesses would have to have truly competitive pricing. This would benefit the consumers of the world. It would also spark more innovate and creative advancements in business and marketing practices.
3. A Better Cultural Understanding
All countries would be able to communicate, and travel to one another. The cultural gap that normally restricts and causes prejudice between different cultures would be eliminated.
4. Simple and Fast Travel
Passports and extremely high traveling fees would be reduced with globalization. This is greatly beneficial for recreational purposes as well as business.
5. Movement of Labor
Globalization would allow for people to move freely around the entire world. This mostly involves the movement of labor and workers. People would be able to go to wherever in the world their skills would be most utilized.
6. Free Trade
One of the biggest observed benefits that would come from globalization is that there would be free trade for all countries. This means that products and goods can be moved freely around the world. This would open up people’s eyes to things that they have never experienced or seen before as well as benefit the economy of all nation’s involved.
The Disadvantages of Globalization
1. Smaller Countries Suffer
Since all countries would be in competition with each other economically, the larger and more developed ones would dominate. Countries that are poor or suffer economically would continue to suffer, and possibly become much worse because the playing field would not be even.
2. Problems For The Environment
Large businesses and corporations would begin to outsource their facilities to other areas of the world. Many of these areas have not yet been impacted by the large industrialization the way that the rest of the world has. If this where to happen these countries would quickly become urbanized, which would hugely effective the environment in a negative way.
3. Cultural Loss
Each individual country of the world has a unique and rich culture that citizens take a huge amount of pride in. If all cultures became integrated, eventually these cultures would begin to fade away. The entire world would be living in the same conditions with the same morals, values, and traditions.
4. Job Losses
Labor is cheaper in some areas of the world than it is in others. This fact would cause many businesses and companies to move their production to these cheap labor areas. There would be an widespread influx in job losses in developed countries, which would hurt their economy.
5. Small Countries Would Be Exploited
Poor countries would be exploited by the wealthy ones. Their land, resources, and labor would all be bought and then the developed countries would effectively have control over these small and poor countries.
