What are the major advantages and disadvantages to globalization?
Globalization is one of the most important factors that are shaping our world today. Globalization affects countries in terms of economics, politics, and culture.
There are positive aspects of globalization in all three of these realms. Culturally, globalization gives people more choices. It allows people to watch movies or listen to music from many different countries. Politically, globalization has helped to improve many countries. Globalization generally works to push countries to become more democratic and open because most of the rich countries of the world have governments that fit that description. Economically, globalization helps to allow more people around the world to have access to more wealth and more consumer goods.
The problems associated with globalization are mainly cultural and, in particular, economic. Culturally, people fear that globalization is homogenizing the world. They fear that it is destroying the cultural distinctiveness of many of the nations of the world. Economically, globalization clearly hurts some segments of most economies. For example, in developing countries, globalization often hurts farmers. Farmers in these countries do not have the technology to allow them to compete with farmers from rich countries. In rich countries, it is manufacturing workers who are harmed. They cannot compete with the low wages that workers in developing countries are willing to accept. Thus, some people in most countries are harmed economically by globalization.