Pro And Cons Of Globalization

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Globalization Brexit in June and Donald J. Trump election win on November 8, 2016, clearly shows voters’ rejection against globalization. Globalization has become a heated political debate all over the globe with sub-issues like migration, trade, and national sovereignty being heated topics; countries that have been benefiting from globalizations are beginning to question its usefulness to their national policy. Globalization has metamorphosed into different arguments ranging from social, philosophical, and economic arguments as to its cost-benefit to the world at large. Currently, the political rhetoric is globalizations hurts national sovereignty but businesses view globalization as a multitude of opportunities for growth in profit. No matter what side of the argument one agrees with, one had to understand what is globalization which is the integration of national institutions be it political, economic, cultural, and technological interdependence to forge humanities growth. Globalization has it cost-benefit, but the United States has benefitted more from globalization than any other nation in the world comparatively. One of the key benefits of globalization is the free movement of goods and services, with the advancement in transportation and the breaking up of trade barriers has allowed the free flow of goods and services. The key drivers of free markets are the globalization of markets and production; John and Kenneth Wild defined globalization of markets as “the
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