Globalization and Technological Advancements

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Examples Of Globalization

Give examples of how globalization has helped or harmed individual nations and the world economy.

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The topic of globalization is an important one. At one point people seemed to see only the benefits of globalization, but there are also some weaknesses. 

Here are some benefits:

First, globalization offer a global marketplace. It also gives a global workforce. These points are no small benefits. They can...

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The topic of globalization is an important one. At one point people seemed to see only the benefits of globalization, but there are also some weaknesses. 

Here are some benefits:

First, globalization offer a global marketplace. It also gives a global workforce. These points are no small benefits. They can make production extremely effective and at the same time maximize profits. From this perspective, globalization is great. 

Second, globalization creates networks of friendship. This can be a deterrent when it comes to war and international conflicts. The reason for this is simple - everyone stands to lose in a global meltdown. 

There are some downsides as well. 

If most of the manufacturing is sent out (for example), then domestic manufacturing goes down. This will entail the loss of jobs and in this economic climate, we need more jobs. 

Second, as the price of transportation grows, globalization forces the greater consumption of oil, which is running out and can be very expensive. There is something to be said about the need for local markets. 

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