The Pros And Cons Of Globalization

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The World Regional Geography textbook describes globalization as the growth of interregional and worldwide linkages and the changes these linkages are bringing about (pg. 30). Globalization has had a mainly positive impact on people around the world, however there have also been negative impacts, too. It affects the political, economic, social, and cultural aspects of the world positively and negatively.
Politically, globalization started mostly because of colonization which also helped shape the world today. The positive side of colonization is that many countries and regions of the world became very developed, including the USA, Europe, and parts of Asia. As colonization began in the 1490s and the early 1500s in the Americas, Great …show more content…

On the political aspect of globalization, colonization can be viewed as both positive and negative.
Globalization greatly affects economics; such as the East Asian Tigers and the Banana Republic. The Asian Tigers are four highly developed economies, Taiwan, South Korea, Hong Kong, and Singapore, that had high growth rates and industrialization between the 1960s through the 1990s. The key strategy was export-driven development and high tariffs on imports and relied on cheap productive labor which enabled these economies to join the ranks of the world 's richest nations. The Asian Tigers are some of the last places to have this type of rapid industrialization and growth rate because if less developed countries placed high tariffs on imports, countries wouldn’t export their goods there. The Asian Tigers demonstrate how beneficial globalization is in economics. On the other hand, the Banana Republics are an example of how unfavorable the economic aspect of globalization can be. One example of a Banana Republic is the United Fruit Company from Boston and San Francisco. The United Fruit Company owned lots of land in Central America and has political power because of how much money and power they had. The company would buy land just so peasants couldn’t plant on it and the United Fruit Company practically owned the entire banana market. Due to the power and wealth, The United Fruit Company could influence anyone they wished and did so

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