Globalization is among one of the key feature of the modern way of living. with the help of it, products these days have no boundaries. Like others, it also has merits and demerits as on one hand, it helps to reduce price and increase diversity among the products. On other hand, it damage the local shop owner and affects the people's job.
To being with, the main advantages are increasing product variation and make it affordable. To elaborate, before globalization, there are limited products and very few choices to consumer before purchasing any product, but in recent time, the situation is completely apposite there are different international and national products that people have to choose from. Moreover, it also reduces the products' price tag and there are lots of varieties in the market, and there is no monopoly of a single company which results in high competitive price. For example, if we want to buy a mobile phone and there are hundreds of options, we have choice to buy a phone as per our convinces and budgets.
Moving on the disadvantages, so it impact on local businesses and jobs. Globalization nearly shattered the local businesses and decline in the job vacancies. To simplify, International products are very advance and cheap as compare to local products. Local business organization not able to compete with international organization because of funds and advancement. Due to that people avert buying from local seller's and that nearly closed the shutter of local businesses. For instance, last year in my neighborhood a small spectacle manufacturing outlet was closed because of no sell and it made almost 50 employees jobless.
To conclude, There are many advantages and disadvantages of globalization, but I personally believe that government should welcome the international products that is more beneficial, after carefully looking at our country interest and impact on local businesses.
Globalization is among one of the key feature of the modern way of living.
with
the
help
of it,
products
these days have no boundaries. Like others, it
also
has merits and demerits as on one hand, it
helps
to
reduce
price and increase diversity among the
products
. On other hand, it
damage
the
local
shop owner and affects the
people
's job.
To
being
with, the main advantages are increasing
product
variation and
make
it affordable. To elaborate,
before
globalization, there
are limited
products
and
very
few choices to consumer
before
purchasing any
product
,
but
in recent time, the situation is completely apposite there are
different
international
and national
products
that
people
have to
choose from.
Moreover
, it
also
reduces
the products' price tag and there are lots of
varieties in
the market, and there is no monopoly of a single
company
which results in high competitive price.
For example
, if we want to
buy
a mobile phone and there are hundreds of options, we have choice to
buy
a phone as per our convinces and budgets.
Moving on the disadvantages,
so
it
impact
on
local
businesses
and jobs. Globalization
nearly
shattered the
local
businesses
and decline in the job vacancies. To simplify,
International
products
are
very
advance and
cheap
as compare to
local
products
.
Local
business
organization not able to compete with
international
organization
because
of funds and advancement. Due to that
people
avert buying from
local
seller's and that
nearly
closed the shutter of
local
businesses
.
For instance
, last year in my neighborhood a
small
spectacle manufacturing outlet
was closed
because
of no sell and it made almost 50 employees jobless.
To conclude
, There are
many
advantages and disadvantages of globalization,
but
I
personally
believe that
government
should welcome the
international
products
that is
more beneficial, after
carefully
looking at our country interest and impact on
local
businesses
.