Globalization has both advantages and disadvantages. Discuss both and give your opinion.

Due to globalization, the world has become integrated economically, socially, politically and culturally through the advances of technology, transportation and communication. It is undeniable that globalization has resulted in both positive and negative effects. I believe that the advantages of globalization exceed the disadvantages. To begin with, globalization has contributed positively to the economies of the world. The advances in science and technology have allowed businesses to effortlessly cross over territorial boundary lines. Consequently, local companies tend to become more productive and competitive thereby raising the quality of goods, services, and the world’s living standard. Additionally, “skills transfer” results in an increase in the knowledge base of local employees allowing them to develop their own local businesses. I believe the promotion of local entrepreneurs is an important advantage of globalization. Unfortunately, one cannot deny the negative effects of globalization. Epidemic diseases are more easily spread because of the advances in transportation. This is evidenced in the ongoing COVID-19 disease which has infected the world over in a short period of time. Another disadvantage of globalization is the unmistakable standardization of cultural, religious, and societal heritages. An example of this is when giant firms and global multinational brands dominate domestic markets. This is a serious drawback and I do not imagine the effect of cultural erosion can be reversed. In conclusion, globalization has, undoubtedly, transformed the modern world. Globalization is a complicated issue, and it is vital to look at both its benefits and drawbacks. Hopefully, in years to come, we will find a way to strike a balance between the positives and the negatives.