Disadvantages Of Globalization

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Globalization is the accelerated increase in activity in International economy. It is an anomaly in regards to economics and communications. However, it does influence politics. “At its heart, globalization is built on the twin pillars of capitalism and high- tech communications”. (Riemer, Simon, & Berry 2016). The most evitable characteristic is the large increases in economic integration and interdependence in trade, banking, transportation, and investment. The trade figures alone are staggering. International trade such as merchandise exports has steadily increased after World War II (Riemer, Simon, & Berry 2016, p. 317). However, with all the benefits globalization provides countries of the world such as increased economics, culture, work ethic, and increased communication it does come with disadvantages such as increasing unemployment in developed countries, increasing trade deficit in developed countries, and terrorism (Reddy & Vyas, 2004).
Advantages of Globalization According to Riemer, Simon, & Berry (2016) “Globalization is a process of interaction and integration among people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology”. Globalization does lead to better economic growth. Economic growth is important for wealthy as well as poor countries, since the countries without economic growth do not feel safe or secure. However, the results of economic globalization

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