Globalization is the network of countries working together to form a culture where there is an interchange of ideas and commerce. Globalization is made more and more possible through the ease of travel and technology.
The benefits of globalization are manifold. First, you are now able to draw not from a single area or even country, but from the world. Hence, the talent pool has just jumped. Second, there is the benefit of costs. This is why many western countries outsource manufacturing and other services to other countries. Third, some say that the inter-mingling of countries is a benefit in that there is less of a possibility of conflict in view of this interdependence. War hurts everyone.
With these things said, there are also weaknesses. Some argue that the costs that are saved are only apparent, especially with the rise in oil prices. Other say that globalization produces poor working conditions in many countries. Third, some criticize globalization for draining natural talent. For example, many medical professionals leave Africa to work in the United States. This leaves Africa with a dearth of medical workers.