Globalization refers to the tendency of investment funds and businesses to move beyond domestic and national markets to other markets around the globe, thereby increasing the interconnectedness of different markets.
Advantages of globalization
- There is a better access to products from many different countries.
- Demand of products increases and more people have opportunities to get jobs.
- Trade between countries allows people to access items
that were not available before.
- People have greater access to skills training and educational opportunities
- Many countries can work together to overcome natural disasters
and global challenges
- Cultural barriers between countries can be broken down
- More developed countries can support less developed countries
- Countries can continue their peaceful relationship
Disadvantages of globalization
- The loss of cultural identity of some less developed countries
- Local markets would suffer because people will go shop
at transnational corporations
- Countries become too interdependent with each other
- There will be exploitation of labor
- Some countries go through the lack of security
- More developed countries use their power and influence
to take advantage of other countries' system
- The level of unemployment in countries as jobs are outsourced
to other countries that pay lower wages
- Dominant cultures are impacting the cultural develop of other countries
This is well-organized. But I think you need to provide some examples showing the impacts of globalization.
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