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Consequences Of Globalisation

Decent Essays
Running head: WHY THERE IS AN INTENSE DEBATE ABOUT GLOBALIZATION 1
WHY THERE IS AN INTENSE DEBATE ABOUT GLOBALIZATION 4

Debate on Globalization and its Consequences
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Debate on Globalization and its Consequences
Globalization is the process of increased interaction and interdependency between nations, people, and governments through cross-border international trade which is aided by information technology. The technological advancement has made it possible for people to communicate, trade and move over long distances. Information technology, in particular, has played a significant role in the transformation of the economic life by allowing economic actors to identify opportunities and make an informed analysis of the opportunities and partner with far-flanged partners to exploit the opportunities. Globalization has impacted every aspect of life from cultural, political, environmental, economic, and marketing to healthcare services.
Globalization and its consequences have been topics of discussion in the recent past with people wondering if the globalization is having positive or adverse effects on the global economy. Most of the supporters of globalization have always claimed that global free markets expand opportunities for the poor by providing job opportunities and economic growth in the developing countries. However,
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