Most people accept that we now live in a globalised world but not everyone agrees that this is beneficial. To what extent is globalisation a positive or negative development? v.1

Globalization has taken a new dimension altogether in the past few years. Though, a popular stratum of individual accept the globalized world, however some people tend to deny with its benefits. This essay would explicate the positive and negative aspects at length in paragraphs to come. The most important benefit derived from globalization is that it has led to integration of different parts of the world. The World was never connected this way. This provided the countries with opportunities to develop and boost their economy. Free transfer of goods and services across the boundaries has majorly transformed the way an economy works. No country would be self-sufficient in all aspects, thereby making such a phenomenon essential for that country's economy as well as the local economy. It has also led to increased competition in the market by enabling easy access to the markets outside their boundary which resulted in improved quality of products as the consumers now have a variety to choose from. However, there are downsides too, it has adversely affected the small farmers and artisans. They find it difficult to compete with foreign made machine goods due to lack of funds, resources and technical expertise. Moreover, big Multinational Corporations tend to mark their territory in different countries which does not allow the local business men to excel. Competitive pricing for similar products does not really give variety to the consumers as people tend to produce only those goods which are in demand and there is no scope for innovation. Having examined the pros and cons, I pen down saying that the World has developed on a massive scale as a result of integration, however, certain segment of the society do suffer from the limitations. The authorities concerned must take measures to ensure that every person enjoys the benefits if globalization.