In this contemporary era, globalization is flourishing in many countries. It has a major contribution to the world' s economy through various sectors such as trade, government and politics. Whereas, it has certain negative impacts on the society. An attempt is made here to analyse both the views.
To begin with, globalization influence the economy to a great extent through international trade. In other words, several international companies work in collaboration with each other for manufacturing and producing quality goods and products. Such type of products invite the attention of public and can in turn flourish the business. This type of trade contributes a lot to the economy. To give a clear example, Nutella, is a widely accepted international food product whose ingredients are supplied by different nations. This brand constitutes almost 30 percent of world economy.
On the other hand, as the world economy is contributed by different countries, there would be an increased chance for disputes between the nations. This would even resort to international conflicts which may affect the overall stability of the world. Apart from that, when the borders of the countries are open for everyone, people can easily access different nations without any restriction. This can spread communicable diseases easily to other countries. Outbreak of diseases to a large population would be difficult to control.
Finally, globalization can cause cultural transmission. When people from one country move to other, it paves the way to the blending of different cultures. Thus, the identity of a country can be easily lost.
To recapitulate, as a coin have 2 sides, globalization also have its benefits and negatives. Globalization facilitates easy movement of people from one country to another for education, trade and occupation. Therefore, the contribution of globalisation in world' s economy downplay its negatives such as cultural blending and spread of communicable diseases.
In this contemporary era, globalization is flourishing in
many
countries
. It has a major contribution to the
world&
#039; s
economy
through various sectors such as
trade
,
government
and politics.
Whereas
, it has certain
negative
impacts on the society. An attempt
is made
here to
analyse
both the views.
To
begin
with, globalization influence the
economy
to a great extent through
international
trade
. In
other
words, several
international
companies
work in collaboration with each
other
for manufacturing and producing quality
goods
and products. Such type of products invite the attention of public and can in turn flourish the business. This type of
trade
contributes a lot to the
economy
. To give a
clear
example, Nutella, is a
widely
accepted
international
food product whose ingredients
are supplied
by
different
nations. This brand constitutes almost 30 percent of
world
economy.
On the
other
hand, as the
world
economy
is contributed
by
different
countries
, there would be an increased chance for disputes between the nations. This would even resort to
international
conflicts which may affect the
overall
stability of the
world
. Apart from that, when the borders of the
countries
are open for everyone,
people
can
easily
access
different
nations without any restriction. This can spread communicable diseases
easily
to
other
countries
. Outbreak of diseases to a large population would be difficult to control.
Finally
, globalization can cause cultural transmission. When
people
from one
country
move
to
other
, it paves the way to the blending of
different
cultures.
Thus
, the identity of a
country
can be
easily
lost.
To recapitulate, as a coin have 2 sides, globalization
also
have its benefits and negatives. Globalization facilitates easy movement of
people
from one
country
to another for education,
trade
and occupation.
Therefore
, the contribution of
globalisation
in
world&
#039; s
economy
downplay its negatives such as cultural blending and spread of communicable diseases.