Today, globalization is at its peak. Many people believe that it provides enormous advantages in terms of economic developments, whereas, other say that it has some serious negative impacts as well. I will discuss both in the following paragraphs.
Nowadays, the world is becoming smaller due to advance technologies and transportations. People can do limitless communications and trades among different countries. For example, people have the privilege to sell their products and
services to another country or vice versa. As a result, overall demand and consumption are increased which creates new business and employment in some non-developed or underdeveloping countries. Additionally, Internation communication through the Internet helps to understand the culture and traditions of various countries. Sometimes, Knowing the nitty-gritty of others culture can give clues of negotiation during critical trade-wars and other crisis.
On the other hand, globalisation has some serious drawbacks as well. Firstly, the risk of online threats has increased in the day to day life. people who shop online or transfer funds often cheated by hacking their credit cards or bank accounts by hackers. Eventually, they lost trust in online shopping and transactions. Apart from this, in many countries, globalization is a primary reason for unemployment. This is because of the outsourcing of the work to poorer and developing countries in order to make a big profit. Hence, Many skilful people do not have good jobs in foreign countries.
In conclusion, Although, globalization makes many people life prosperous in many countries, Its disadvantages may put many in the deplorable situation. I would say globalization needs some strict rules to avoid these issues.
Today
, globalization is at its peak.
Many
people
believe that it provides enormous advantages in terms of economic developments, whereas,
other
say that it has
some
serious
negative
impacts
as well
. I will discuss both in the following paragraphs.
Nowadays, the world is becoming smaller due to advance technologies and transportations.
People
can do limitless communications and trades among
different
countries
.
For example
,
people
have the privilege to sell their products
and
services
to another
country
or vice versa.
As a result
,
overall
demand and consumption
are increased
which creates new business and employment in
some
non-developed or
underdeveloping
countries
.
Additionally
, Internation communication through the Internet
helps
to understand the culture and traditions of various
countries
.
Sometimes
, Knowing the nitty-gritty of others culture can give clues of negotiation during critical trade-wars and
other
crisis.
On the
other
hand,
globalisation
has
some
serious drawbacks
as well
.
Firstly
, the
risk
of online threats has increased in the
day to day
life.
people
who shop online or transfer funds
often
cheated by hacking their credit cards or bank accounts by hackers.
Eventually
, they lost trust in online shopping and transactions. Apart from this, in
many
countries
, globalization is a primary reason for unemployment. This is
because
of the outsourcing of the work to poorer and developing
countries
in order to
make
a
big
profit.
Hence
,
Many
skilful
people
do not have
good
jobs in foreign countries.
In conclusion
, Although, globalization
makes
many
people
life prosperous in
many
countries
, Its disadvantages may put
many
in the deplorable situation. I would say globalization needs
some
strict
rules
to avoid these issues.