Globalization occurs when countries get rid of their barriers to make a pathway where ideas, beliefs, and culture can cross borders. Globalization is not limited to affecting the economy only; it also has an effect on many other aspect of life, such as cultural, social, psychological issues. Though some view globalization as the means for a hopeful future, others see is as a potential disaster for the world’s economy. Thus, because Globalization is a controversial issue I believe that it is important to highlight both its pros and cons.
There are many pros to the benefits that globalization would have. With globalization there would be a universal market that would allow companies from all over the world to trade products with one another, which would allow people a wider range of options. Currently there is enough money in the world to feed every man, women and child, however, resources are unfairly distributed; developing countries are often the ones who feel the burden of this fact. Globalization would greatly help developing countries because there would be a more equal flow of money. Also, there would be an increase in the production sector that would allow manufacturers a greater variety of options. Inflation would be less likely to occur because competition is known to keep prices lower. Also it would be reassuring to know that no one country “remains the single power head; instead there are compartmentalized power sectors.” Globalization would help communication between different countries, which would hopefully minimize conflict, and prejudice. Communication would also give countries an opportunity to experience other cultures. Diversity would be much more prevalent.
Though the pros of globalization seem to outshine the cons, the cons should still be mentioned. Many Europeans are losing their jobs because of globalization. This is happening because jobs are going to people in the Asia countries because all expenses are cheaper, for example, production and employment rates are less expensive which creates a more efficient system. When countries transfer the quality of their products to other countries they are increasing their chances of being qualitatively deprived. Also, many experts believe that globalization is the cause for many of the diseases as well as social erosion in countries. Many people find it frightening to think that corporations could potentially rule the world if globalization continues. Lastly some argue that rich countries take advantage of poor countries where there are lower wages.
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