Globalization has its advantages as well as disadvantages, and there are advocates for both sides. I, for one, am in favor of globalization and believe that its advantages far outweigh its disadvantages.
A globalized economy brings products from all around the world and better quality of foreign products forces the local businesses to innovate. This innovation, in turn, helps consumers in terms of better products. Globalization also generates employment for a large section of population and across skill sets, thus helping the local economy.
Globalization also opens the doors of foreign companies to local talents, who may actually go on to achieve much more success at global level. An example is the number of technology companies headed by people from India (such as Microsoft's Sriram Rajamani, who is Assistant Managing Director of Microsoft Research India; Google is another such example).
The choices available to the consumers increase many-fold and the fierce competition results in more competitive costs. Investments achieve better returns, since failure of one market may not necessarily impact a company's performance in other markets. Thus, I favor globalization.