Positive and negative impacts of globalization

The world has become a global village, adopting the best practices for a more united planet. Globalization entails the unification of differing cultures, races, places and people from across the world into a single identity. 

Nonetheless, globalization in the context of this work is concerning the adoption of the best business practices that allow people, places and cultures to leverage a larger world and influence the international scene. For instance, American culture has placed a strong influence on the global scene, dictating what is right and what is wrong. 

In the deeper context globalization can offer varying advantages, from an improved living standard to a different way of thinking and a generally acceptable nature to human concepts that seem not to agree with yours. Globalization can also hold some very negative effects eventually. 

In this work, we look at the concept of globalization and how it generally impacts change in a positive and also negative way.

The process of globalization

In today’s world, globalization influences almost every part of our lives. But the tasking question is how does the process of globalization work? How did we get to a point where we have become so united that one can be so far but yet feel close? Where one can understand the cultures, traditions, and living standards of a country without ever visiting the country at all. 

Globalization started with the advent of high demand for goods and services, this continuous demand saw a move to adopt new designs in trade, artistic skills, technologies and others. There is no doubt that economics was a strong factor that fueled the early stages of globalization across the world. With the desire for new markets, Europe and indeed most developed nations in the 18 century went about accessing some of the most remote places on earth and influencing the cultural practices in these varying areas.

Fast-track to this era, the adoption of English, French, Spanish and all other European languages was a first step that boosted the intrigue of people in learning cultures available in other places. Today, one need not travel to learn the ropes, with the advent of the internet, the way the world interacts has been designed to be more assertive with ease. 

The positives of globalization

From countries with small sizes gaining bigger revenues to conservative countries adopting the best business and ethical practices, here are some of the benefits of globalization. 

1. Solving issues in the economy

The creation of jobs is perhaps the most significant contribution of globalization to the world today. People from poorer nations can access opportunities in a plethora of developed nations with better living standards and wages.

Also, investors from developed nations can leverage the global market to scale up profit margins. 

2. Open trade is at an advantage

Globalization influences the economies of nations to provide a more friendly environment for businesses to thrive.

With the opportunities that abound countries are shifting to universally accepted business practices to gain from the global market.

3. Economic growth is encouraged

With companies from developed economies investing greatly in countries with small economies, there is bound to be a boost in the general advancement of the overall economic growth of the country.

Countries’ economies doubled following the adoption of the globalization agenda.

4. Protects human rights

Globalization places a strong lens on human rights abuses across the world. Abuses that ordinarily would go unchecked and silenced are today brought to the global scene for evaluation.

5. Allows mutual understanding of cultures

Experts believe continuous exposure to other cultures and conceptual thinking improves the general knowledge of a person.

Travellers see a different perspective of an ideology they once held on an issue.

Negatives of globalization

Globalization has been believed to affect varying forms of independent and fragile cultural practices across the globe. Opponents of globalization claim the worse crisis of the concept are the act of forming a single world devoid of other cultural concept and practices. Nonetheless, we offer the biggest negatives to globalization below. 

1. Market instability

A strong opposition to globalization is the continuous effect it does on the market development of some countries.

Countries with large corporations surviving on taxes find it difficult to grapple with the globalization schemes, with corporations moving operational bases to tax-free countries, thereby reducing the total tax collectables of the developed nations. 

2. Environmental damage concerns

Moving people from one part of the world to the other comes with environmental challenges. With carbon taking the lead, aviation fuel, rail fuel and other means of transportation causing untold harm to the environment. 

3. Increases unemployment

Companies moving to other tax haven countries cause significant unemployment in their home countries.

4. Affects cultural identities

This is perhaps the most significant negativity of globalization. The fading of local cultures and languages is eminent to the adoption of a single global practice.

Today, thousands of cultures have faded over the years, with increased culture fade concentrations in the continents of Africa, South America and Asia. 

5. Increases the possibility of a Pandemic

The movement of people from different locations can see these persons carry unidentified diseases from their countries to others.

The coronavirus was an eye-opening example to the international market of the dangers of globalization. 

With fears of a repeated pandemic, countries are wearier than ever in allowing immigrants or tourists into their localities.

Conclusion

The open borders and unfettered commerce that Globalization encourages have benefits and drawbacks. People, corporations, and nations must weigh all sides of the globalization debate in today’s post-pandemic world. You can discover how businesses are reevaluating their global supply networks to minimize disruption and maximize the advantages of Globalization.

Frequently Asked Questions (FAQs)

Does globalization affect conservatism?

Globalization demands a more united and liberal world free from conservatism. The cultural mix is a strong flaw of globalization, which affects already protected cultural practices.

What is the strongest support for globalization in present times?

The internet has become the strongest influence of globalization presently. Strong indications show a boost in the spread of a unified global culture following the advent of the internet. 

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Richard Okoroafor

Richard Okoroafor

Richard is a brilliant legal content writer who doubles as a finance lawyer. He brings his wealth of legal knowledge in corporate commercial transactions to bear, offering the best value that exceeds expectations.

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