Do you think the advantages of globalization outweigh disadvantages? Give your opinion in at least 250 words with relevant examples from your own experience.
Benefits of globalization
Individuals
They are able to communicate with others, regardless of political boundaries, creating understanding between diverse ethnicities, cultures and nationalities, creating harmonious relationships and helping brush aside tribal attitudes by broadening their mindsets.
People can go to other parts of the world - due to information and facilities being easily accessible - and fulfill their objectives; education, employment, medical intervention, leisure and even business opportunities.
**Rendering visibility to all cultures.
People are now able to obtain goods and services of similar quality and at similar prices anywhere in the world
Businesses
Companies can now access markets in any part of the world unhindered: absence of protective barriers have rendered an unprecedented ease to businesses
Can access cheap labor and raw material anywhere in the world
Economies and countries
Transfer of technology and expertise has become relatively easier since free trade has become a new normal due to global concepts.
Impoverished economies are getting a much needed infusion of capital and expertise that is generating employment for millions and business worth billions and revenues of the state.
Companies of rich countries are able to access cheap resources: manpower, raw material and infrastructure easily, reducing the operational costs.
Global problems like pollution and crime are being handled more effectively now due to sharing of information and establishment of common platforms.
Drawbacks
** Conservatives are wary of this, they fear that their cultures are on the verge of extinction due to people becoming inclined to wearing global identity. Many regard it as a cultural invasion under the garb of global aspirations.
Killing the local entrepreneurial skills of poor economies: they are unable to face the competition from giant MNC’s. Many fear that the day is not far when the weak economies will be overtaken by rich nations.
This is causing unemployment in rich countries
Transmission of disease has become easier, as illustrated by the spread of coronavirus, affecting almost every inhabitant.
Crime has also become global.
The concurrent world order is highly global in nature, and has influenced every wail of life, by fetching both merits and demerits, but do the former outshine the latter, is an issue that needs a critical analysis.
These recently evolving settings have had the most favourable impact on people across the globe; they can effortlessly and seamlessly communicate with their counterparts, regardless of their location, and share their views and opinions without restrictions, helping establish a conducive dialogue and environment, and bringing cultures together, thereby creating harmony. For instance, festivals, food, and various forms of art, of different countries, are being increasingly appreciated by everyone world over.
Similarly, at the macro level, the poor economies have been the biggest beneficiaries of this arrangement since they have been able to develop themselves with the help of infusion of much needed capital, expertise, technology, and global connections being brought in by gigantic multinationals hailing from prosperous nations. This has enabled them to create jobs for their skilled workforce, establish infrastructure and so on. Several Asian and African countries owe their progress to this phenomenon.
Nevertheless, the conservatives, despite being backed by unfounded fears, throw up arms in horror, and compare this evolution with colonialism, wherein the rich part of the world is trying to gain control of impoverished regions through cultural and commercial invasion. However, the ground realities exhibit a completely contrasting picture:the poor nations have been able to use this medium to create resources for preserving their culture and also engender local entrepreneurial skills.
In hindsight, disputes aside, the rewards yielded by globalization are numerous and easily eclipse its alleged shortcomings, and hold several promises for mankind. This arrangement is there to stay, and very soon the world will transform into a global village.
