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Essay On The Pros And Cons Of Globalization

891 Words4 Pages

There is more than 1000 definition for Globalization all over the world , But the most prominent and widely used definition for it is that " Globalization is a process of integration and interaction among different people, worldwide companies, and governments of different nations, a process driven by international trade and investment and aided by information technology." Which means that globalization is shaping the world in a way that leads to a huge openness and shorten the distance between countries. A lot of people have different opinions about Globalization leading to many debates wondering if it has a good or bad effect on their nations. A s some people see that globalization cause the elimination of cultural identity and privacy …show more content…

From the pros of globalization that made it possible to trade freely with one another by eliminating restrictions imposed by the state on all exchanges that cross-borders which are also known by Economic Globalization . This made it possible for people to access new markets which is not in their countries, which allowed them to lower their costs as now they have a various selection of products to choose from (Pros and cons of economic, social and political globalization: is globalization overall positive for our societies?). Companies on the other side have customers with various needs all over the world , all of this led to greater benefits on both …show more content…

Because less developed countries can't benefit from the level of the fields that globalization provides, as they are not provided with secure growth due to free trading as they struggle to compete with the companies of developed countries leading to leaving less developed countries behind. "Also, multinational companies extract their goods without returning much and al so they have strong bargaining power against local governments ." (Globalization Pros and Cons List ) so they don't pay much

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