Advantages
Globalization has a range of advantages while it has disadvantages, the
Advantages include GDP Increase; statistics show that GDP in developing
countries has increased twice as much as before. Unemployment is reduced.
Education has increased. Competition on Even Platform: The Companies all around
the world are competing on a single global platform which allows better options
to consumers. It increased free trade between nations; The Corporations have
greater flexibility to operate across borders. Global mass media ties the world
together. Increased flow of communications allows vital information to be shared
between individuals and corporations around the world. It increases
environmental protection in developed nations. Spread of democratic ideas to
developed nations. Reduced cultural barriers increases in the global village
effect.
Disadvantages
The Disadvantages are considered to be Uneven Distribution of Wealth, Income Gap
Between Developed and Developing Countries, where the wealth of developed
countries continues to grow twice as much as the developing world. Next
disadvantage is Different Wage Standards for Developing Countries, which is
explained by the following fat that the technology worker may get more value for
his work in a developed country than a worker in a developing country thus there
are in the later many dynamic, industrious and enterprising people who are well
educated and ready to work with rigor. The reveal of Globalization is also
considered as a disadvantage which is explained by future factors such as war
that can demand the reveal of globalization and the current process of
globalization may just be impossible to reverse. There is also another aspect of
the disadvantage of globalization in the media sphere. The threat that control
of world media by a handful of corporations will limit cultural expression. And
the final in my estimation is the chance of reactions for globalization being
violent in an attempt to preserve cultural heritage.
Effects
With the above mentioned disadvantages and advantages Globalization culminates
in effective facts. The following are considered the Effects of Globalization;
enhancement in the information flow between geographically remote locations the
global common market has a freedom of exchange of goods and capital there is a
broad access to a range of goods for consumers and companies worldwide
production markets emerge free circulation of people of different nations leads
to social benefits global environmental problems like cross-boundary pollution,
overfishing in oceans, climate changes are solved by discussions more trans
border data flow using communication satellites, the Internet, wireless
telephones, etc. international criminal courts and international justice
movements are launched the standards applied globally like patents, copyright
laws and world trade agreements increase corporate, national and sub-national
borrowers have a better access to external finance worldwide financial markets
emerge multiculturalism spreads as there is individual access to cultural
diversity. This diversity decreases due to hybridization or assimilation
international travel and tourism increases worldwide sporting events like the
Olympic Games and the FIFA World Cup are held enhancement in worldwide fads and
pop culture local consumer products are exported to other countries immigration
between countries increases cross-cultural contacts grow and cultural diffusion
takes place there is an increase in the desire to use foreign ideas and
products, adopt new practices and technologies and be a part of world culture
free trade zones are formed having less or no tariffs due to development of
containerization for ocean shipping, the transportation costs are reduced
subsidies for local businesses decrease capital controls reduce or vanquish
there is supranational recognition of intellectual property restrictions, i.e.,
patents authorized by one country are recognized in another.