Globalisation is a phenomenon that has affected almost all of us in one way or another. The implications of globalisation affect our day-to-day life. Like every phenomenon, global too has its pros and cons.
On the brighter side, global has made the movement of goods and services across the countries easier than ever before. It has benefitted trade and commerce and this in turn have led to the economic welfare of many. Increased prosperity and disposable income as well as direct international trade between individuals and organisations have led to an increase in international tourism. As a result of it, knowledge and understanding of foreign cultures and languages has risen exponentially. The advancement in information technology (simply use the full form here, unless you wish to reuse the acronym later. ) Has worked as a catalyst in propelling this trend even further. Globalisation has also presented itself as an opportunity to the corporate world. For instance, it has allowed multinationals to form and operate in a number of different markets and thus augment their profits.
But the flip side of the coin is that, albeit, globalisation has facilitated increased understanding of foreign cultures, it also has allowed dominant cultures to permeate original native cultures around the world. Influential (use synonyms and substitutions instead of reusing the same word) cultures have penetrated various local cultures worldwide in such a way that a lot of them are on the edge of becoming extinct or have mutated to a great extent. Besides, multinationals taking advantage of cheaper labour in emerging markets have contributed to a wide income gap between developed and developing nations.
All the above points have led me to the reasoning that although, globalisation remarkably contributed in shaping the way we see our society today, it is not free from shortcomings.
Globalisation
is a phenomenon that has
affected
almost all of us in one way or another. The implications of
globalisation
affect our day-to-day life. Like every phenomenon, global too has its pros and cons.
On the brighter side, global has made the movement of
goods
and services across the countries easier than ever
before
. It has
benefitted
trade and commerce and this in turn have led to the economic welfare of
many
. Increased prosperity and disposable income
as well
as direct international trade between individuals and
organisations
have led to an increase in international tourism.
As a result
of it, knowledge and understanding of foreign
cultures
and languages has risen
exponentially
. The advancement in information technology (
simply
use
the full form here, unless you wish to reuse the acronym later.
)
Has worked as a catalyst in propelling this trend even
further
.
Globalisation
has
also
presented itself as an opportunity to the corporate world.
For instance
, it has
allowed
multinationals to form and operate in a number of
different
markets and
thus
augment their profits.
But
the flip side of the coin is that, albeit,
globalisation
has facilitated increased understanding of foreign
cultures
, it
also
has
allowed
dominant
cultures
to permeate original native
cultures
around the world. Influential (
use
synonyms and substitutions
instead
of reusing the same word)
cultures
have penetrated various local
cultures
worldwide in such a way that
a lot of
them are on the edge of becoming extinct or have mutated to a great extent.
Besides
, multinationals taking advantage of cheaper
labour
in emerging markets have contributed to a wide income gap between developed and developing nations.
All the above points have led me to the reasoning that although,
globalisation
remarkably
contributed in shaping the way we
see
our society
today
, it is not free from shortcomings.