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The Pros and Cons of Globalization Essays

Decent Essays

Nowadays people have become closer than before. Services and goods produced in a country will be available to sell in the other countries. We hear about globalisation in the news every day, read about it in the news papers and hear people talking about it. Globalisation is the interactively international and nearness of economies.
It is the process that has led to the diverse parts of the globe becoming much closer to each other (Slaughter and Swagel, 1997). Globalisation is the procedures by which the people around the world become connected to each other in all aspects of life, culturally, technically and politically, economically and environmentally.
Globalisation assists improving technology that benefits many people in throughout …show more content…

The mission was to trade spices and stabilizes the prices of goods and commodities. In the seventeenth century, globalisation has become an entrepreneurial phenomenon.
The British East India Company established in 1600, was described as one of the first multinational companies. After that the Dutch East India Company was formed in 1602 and the Portuguese East India Company in 1628. Because of the financial investment needed for a high risk venture, the British East India Company became the first company in the world to share risk and allow the common possession of companies through the issuance of shares, which represented an important factor to encourage the spread of globalisation.

Globalisation has given us some great advantages throughout our lives. At the same time, globalisation has created some disadvantages. As a result of the increase and the speed of economic globalisation, it became easier to cross a border which has resulted in organized crime. For example the international mafia gangs have taken advantage of the chaos and turmoil in some parts of the world (Shanty, 2007). In addition, both crime and terrorists groups globalized to find their markets, to perpetuate their business and to avoid detection. Furthermore,

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