Globalization has become one of the most debated subjects of recent times. It has been hailed as one of the best things to happen to the world by its proponents, while opponents have labelled it as neo-imperialism. Despite its challenges, the positive role it has played in changing the lives of millions of people around the world is commendable. In the following passages, we will try to gain an insight into the positive effects of globalization.
Although there are a host of challenges associated with globalization, it has numerous positive effects as well. Anti-globalization crusaders who represent issues such as environmental degradation, economic inequality, loss of jobs in the host country etc. have made their presence felt at various global conferences. The issues that they raise are real and can have catastrophic effects if not tackled earnestly. However, the advantages of globalization are all-pervasive and a lot of developing countries have directly benefited through globalization. As the subject of this article pertains to the positive effects of globalization, we will focus on the positive changes it has brought to the world - both economically and culturally, and how it can very well become one of the defining factors of the present century. We are aware about the sensibilities of people who are concerned about the ill-effects of globalization; we have tried to cover the other side of globalization in the article - negative effects of globalization.
Benefits of Globalization
- Increased Competition
- Investment and Capital Flows
- Foreign Trade
- Spread of Technical Know-How
- Spread of Culture
- Spread of Education
- Legal and Ethical Effects
After reading the above-mentioned advantages of globalization, one can safely conclude that it definitely has brought the world a lot closer in terms of economic cooperation and trade. However, there is an urgent need to address all those concerns which can make globalization a tool for developed countries to gain an upper hand over developing countries. The world leaders need to give every country, irrespective of its economic and military status its due right in the comity of nations. People in developed countries who have lost their livelihood because of outsourcing, and people in developing countries who face poor working conditions and abysmal compensation, are a harsh reality of globalization. Corporations who have made hefty profits on the cost of these two marginalized groups of people need to find a way out so that globalization becomes a phenomenon that encompasses every life and not a tyranny that masquerades itself as a revolution.
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