Globalization has both advantages and disadvantages. Discuss both and give your opinion
Give any relevant examples and reasons based on your knowledge and experiences. Write at least 250 words
Globalization is the spread of products, technologies, information, jobs across borders and national culture. Economically, this phenomenon describes the interdependence of nations across the globe promoted through free trade.
Advantages :
On the positive side, globalization can improve living standards in poor and underdeveloped countries by creating employment opportunities, modernizing and improving access to goods and services.
Supporters believe that globalization allows developing countries to catch up with industrialized nations through increased production, diversification, economic expansion and improved living standards.
Defect:
Opponents of globalization argue that it has created a concentration of wealth and power in the hands of large corporations, which can destroy smaller rivals around the globe.
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