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Globalization: Pros and Cons Explained

Globalization has increased per capita incomes and provided access to global markets and technologies, improving quality of life standards. However, it has also led to dissatisfaction among underdeveloped nations who feel cut off and experience inferiority complexes. While globalization allows more connections between people worldwide, it can also be destabilizing due to irrational global markets and vulnerability of poorer nations to economic fluctuations outside of their control. Globalization has benefits but also risks pitfalls.

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Anju Nishad
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65 views1 page

Globalization: Pros and Cons Explained

Globalization has increased per capita incomes and provided access to global markets and technologies, improving quality of life standards. However, it has also led to dissatisfaction among underdeveloped nations who feel cut off and experience inferiority complexes. While globalization allows more connections between people worldwide, it can also be destabilizing due to irrational global markets and vulnerability of poorer nations to economic fluctuations outside of their control. Globalization has benefits but also risks pitfalls.

Uploaded by

Anju Nishad
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd

Globalization - Advantages & Disadvantages

  Globalization has many advantages for developing and developed countries. But, this has lead to a great
dissatisfaction among the under developed/developing countries. Though Liberalization has many impacts on any
country's economy, it has increased the per capita income.

              Due to globalization the business market in the world has no boundaries, they can market their products in
any part of the world. This has improved the chances of laying hands on global markets & technologies, which would
definitely increase our Quality of Living Standards.

            But globalization has lead to a major dissatisfaction among under developed/developing countries where they
are cut off from the rest of the world. This has also increased the chances of inferiority complex among these nations.

 " Globalization - Advantages & Disadvantages "

                 The Era of Globalization" is fast becoming the preferred term for describing the current times. Just as the
Depression, the Cold War Era, the Space Age, and the Roaring 20's are used to describe particular periods of history;
globalization describes the political, economic, and cultural atmosphere of today.

               People around the globe are more connected to each other than ever before. Information and money flow
more quickly than ever. Goods and services produced in one part of the world are increasingly available in all parts of
the world. International travel is more frequent. International communication is commonplace. This phenomenon
has been titled "globalization." These are major advantages of globalization

        While some people think of globalization as primarily a synonym for global business, it is much more than that.
The same forces that allow businesses to operate as if national borders did not exist also allow social activists, labor
organizers, journalists, academics, and many others to work on a global stage.

            There is a fundamental problem with globalization, which will cause international tension and trade disputes
without arresting the process.

             The problem is the irrational nature of the global market, coupled with the extreme vulnerability of the poorest
and most marginalized in emerging economies to sudden changes in exchange, interest rates, or big investment
decisions.  Globalization therefore can sometimes be destabilizing.

            Everyone sells when the price is already rock-bottom You can have a bizarre situation where everyone privately
thinks that the currency is already too low, but continues to sell hard only because they are certain that everyone else
thinks the currency still has further to fall. Rates fall through the floor in a mass wave of panic selling, as dealers
dump currency in the near certain knowledge that they can buy it back at a profit in a few minutes, hours or days.

            Well it has got tremendous benefits as well as its own pitfalls

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