The Advantages And Disadvantages Of Globalization

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Advantages of Globalization
The Globalization phenomenon has impacted people on at least three fronts, namely, socio-economic impacts, political impacts and cultural impacts.
On the socio-economic front, the worldwide commercial market becomes flexible and transactions of the international companies transcend beyond countries’ geographical borders. Globalization also improves the flow of capital, enabling the investors to invest on the unexploited resources of the developing countries (“Advantages of Globalization,” 2010).
Access to the foreign investments in many countries has become possible due to free flow of capitals. Economic Globalization enables open economy as well as widespread promotion of technological growth and inventions rule the world (“Advantages of Globalization,” 2010).
On the political front, the democratic thoughts are swiftly spreading across countries due to Globalization.
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Moreover, countries’ total output levels and quality improve when production is competition-based. Cheap imports as well as competition at international level address price rise resulting in reduced inflation rates. Above all, Globalization reduces the threat of warfare among developed countries to a significant extent (“Advantages of Globalization,” 2010).
On the cultural front, Globalization eases cultural constraints as well as differences among nations, by encouraging empathy, fellowship and mutual compassion. Globalization of the mass media has significantly reduced the global space, enabling the people to be informed about all recent international occurrences through different television channels (“Advantages of Globalization,” 2010).
One of the positive impacts of Globalization is the smooth as well as swift transportation of people and commodities to different corners of the world, enabling people to learn and understand other cultures (“Advantages of Globalization,”
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