Myriad of affirmative impacts could be seen on the economy of globe due to globalization; however, some school of thoughts deem that deleterious implications cannot be neglected. While local economy affects due to this development, I believe that perquisites in terms of availability of jobs at cheaper rate cannot be avoided.
On the one hand, world has become a global village due to globalization. Owing to this, smaller businesses have to face plight to sell their products in local market because different items are available in the market at lower rate which are imported from other countries. Consequently, less preference is given to the local sellers which is perilous for the local economy. For example, in India, bearing manufacturing industries are in jeopardy because China is supplying the same product at cheaper rate. However, I believe that there are more benefits than drawbacks of globalization.
On the other hand, a huge number of employment is provided to developing countries because of globalization. That is to say that many multi-national companies are establishing their manufacturing units in developing nations due to which unemployed people could easily fond a suitable job. Moreover, it will not only advantageous to the people of guest countries, but organizations are also benefited by recruiting employees at lower wages as compared to their native nations. To exemplify, Apple has built a manufacturing plant in India and gives job opportunities to thousands of people. In addition to that, Indians are working at lower annual package than Americans. Therefore, I believe that globalization has more positive implications on the world' s economy.
In conclusion, it can be reiterated that though, local shop-keepers and businesses are facing difficulty to sell their products, I believe that better job opportunities as well as workers at cheaper rate are more productive. Furthermore, it is recommended that rules and regulations should be made by states to conserve the local businesses.
Myriad of affirmative impacts could be
seen
on the economy of globe
due
to globalization;
however
,
some
school of thoughts deem that deleterious implications cannot
be neglected
. While
local
economy affects
due
to this development, I
believe
that perquisites in terms of availability of
jobs
at cheaper
rate
cannot
be avoided
.
On the one hand, world has become a global village
due
to globalization. Owing to this, smaller businesses
have to
face plight to sell their products in
local
market
because
different
items are available in the market at lower
rate
which
are imported
from other countries.
Consequently
, less preference is
given
to the
local
sellers which is perilous for the
local
economy.
For example
, in India, bearing manufacturing industries are in jeopardy
because
China is supplying the same product at cheaper
rate
.
However
, I
believe
that there are more benefits than drawbacks of globalization.
On the other hand
, a huge number of employment
is provided
to
developing countries
because
of globalization.
That is
to say that
many
multi-national
companies
are establishing their manufacturing units in developing nations
due
to which unemployed
people
could
easily
fond a suitable
job
.
Moreover
, it will not
only
advantageous to the
people
of guest countries,
but
organizations are
also
benefited by recruiting employees at lower wages as compared to their native nations. To exemplify, Apple has built a manufacturing plant in India and gives
job
opportunities to thousands of
people
.
In addition
to that, Indians are working at lower annual package than Americans.
Therefore
, I
believe
that globalization has more
positive
implications on the
world&
#039; s economy.
In conclusion
, it can
be reiterated
that though,
local
shop-keepers and businesses are facing difficulty to sell their products, I
believe
that better
job
opportunities
as well
as workers at cheaper
rate
are more productive.
Furthermore
, it
is recommended
that
rules
and regulations should
be made
by states to conserve the
local
businesses.