Some advantages of globalization are as follows:
It has helped to lift millions of people out of poverty in the developing world. This is because globalization works best in countries that are labor-rich but capital-poor.
It broadens access to goods and services. Thanks to globalization, far more goods and services are now more widely available to more people at a much lower price.
Disadvantages of globalization:
Workers in developed countries can lose out to countries with cheap labor and weak regulation. All too often, this encourages a race to the bottom in terms of labor standards as well as environmental regulation.
Globalization puts more power in the hands of big corporations. This often comes at the expense of state sovereignty and seriously impairs the ability of citizens to hold corporations to account.