Globalization is the trend of global cultures getting closer and melding more as technology and travel allow people to experience diverse cultures more easily. There are obvious benefits to this, but there are some additional drawbacks.
On the positive side, globalization helps with enrichment and cultural development. People are able to see and experience different cultures, and this enriches their lives and helps them to learn and grow. This benefits society at large, as diverse experiences and perspectives offer unique ideas, promote solving global problems, and help to develop a stronger global culture and an inclusive environment.
Globalization is also beneficial for businesses because they are able to sell and work in a larger market than previously. They can also draw their workforce from a larger base than if they were limited to one geographic area. However, the ability to draw their workforce from economically disadvantaged populations often leads to exploitation of workers (e.g., underpaying them, providing dangerous working conditions, promoting child labor, etc.).
As a negative, it does expose people to the downsides of culture that can be detrimental. Globalization can lead to racism, terror organizations, and other threats. Additionally, one minor negative is simple dissatisfaction. People will get frustrated with their own culture or country because they have only seen the positive aspects of another culture through technology or tourism. While there may be benefits they’d appreciate more in the other culture, they may be blind to its negative aspects and are therefore seeing an ideal society in their mind that makes them frustrated with their own culture.