Globalization has many positives but its negative effects should also not be ignored. To what extent do you agree or disagree?
Globalization has caused an upheaval in almost all walks of life. However, some people believe that a substantial amount of adverse outcomes has also been associated with its advent. I disagree with this notion and believe that the merits of globalisation surpass/outstrip the drawbacks of the same.
With the emergence of globalisation, markets in the global economy have integrated. This new arrangement has given rise to social media, as a result, people can communicate with others, regardless of political boundaries or geographies, helping create harmonious relationships between people who now happily identify themselves as global citizens rather than being those limited to their nationalities or ethnicities. This has also rendered businessmen a platform to reach prospective customers anywhere, aiding in flourishing their businesses, thereby, the economies. From this perspective, globalisation has fetched great advantages.
Moreover, the advent of MNCs and global brands has created an upsurge in the bundle of opportunities. The inflow of investment has led to creation of more employment in all the countries which eventually has boosted economies. This has subsequently helped in alleviating poverty from the developing nations and driving in prosperity. Thus, mitigating economic disparities between the countries.
In addition to the above, globalisation has assisted the consumerist society to satisfy their growing requirements. Due to the cross-border trade, a plethora of products and services are easily accessible, blessing the population with a rich profusion of luxuries and comforts at similar prices and of identical quality. Most businesses launch their products across the globe at the same time, allowing consumers to enjoy the produce without worrying about accessibility.
To reiterate, globalization has united the national economies leading to mutual benefits. Thus, it can be safely said that the negative aspects of globalization do not eclipse the advantages.
