Global communication and trade, at the turn of the 21st century, have brought about many effects. On one hand, they’re blurring technological, economic, political, and cultural boundaries, however on the other they’re said to be crushing a country’s individuality. I personally believe in the former opinion more, which shall be reasoned out further in this essay.
Outsourcing is one of the negative impacts of world trade, where a country loses a majority of its jobs to workers in foreign; a stark example is the outsourcing of companies from the US to Indian BPO (Business Process Outsourcing) units. Another, is the increasing reliance on foreign brands compared to local equivalents, for example, imported chocolate cookies have more consumption rates than the ones produced by local companies. A large blame is to be put on social communications for creating an overhyped necessity for foreign brands in one’s lifestyle. Such factors are considered to be a significant blow to a country’s own economy and morale of its producers, thereby giving rise to the statement in the question.
Looking at the pace international trade is increasing tells us a different story though. In contrast to the ill-effects mentioned above, a number of advantages are put forward by people beckoning world trade to boom. International trade is beneficial to world economy. It adds to the money coffers of the world at large. Every country can benefit monetarily if it is able to dispose of its surplus goods after meeting the requirements of the local people. Consequently the wages and lifestyles of the people automatically start climbing. There’s no stopping globalization so as to consider it; a practical approach would be to take on its positive aspects and work on an according direction to prevent this phenomenon from becoming harmful.
Concluding this topic as a positive trend for the world economies, I would like to say that countries cannot live in isolation. They have to mutually share their prosperity, technical know-how and undertake trade in order to sell their surplus products. The world economy is interdependent. The economic progress of a nation would depend upon its ties with other countries.
Global communication and
trade
, at the turn of the 21st century, have brought about
many
effects. On one hand, they’re blurring technological, economic, political, and cultural boundaries,
however
on the other they’re said to be crushing a
country’s
individuality. I
personally
believe in the former opinion more, which shall
be reasoned
out
further
in this essay.
Outsourcing is one of the
negative
impacts of
world
trade
, where a
country
loses a majority of its jobs to workers in foreign; a stark example is the outsourcing of
companies
from the US to Indian BPO (Business Process Outsourcing) units. Another, is the increasing reliance on foreign brands compared to local equivalents,
for example
, imported chocolate cookies have more consumption rates than the
ones
produced by local
companies
. A large blame is to
be put
on social communications for creating an
overhyped
necessity for foreign brands in one’s lifestyle. Such factors
are considered
to be a significant blow to a
country’s
own
economy
and morale of its producers, thereby giving rise to the statement in the question.
Looking at the pace international
trade
is increasing
tells
us a
different
story though.
In contrast
to the ill-effects mentioned above, a number of advantages
are put
forward by
people
beckoning
world
trade
to boom. International
trade
is beneficial to
world
economy
. It
adds
to the money coffers of the
world
at large. Every
country
can benefit
monetarily
if it is able to dispose of its surplus
goods
after meeting the requirements of the local
people
.
Consequently
the wages and lifestyles of the
people
automatically
start
climbing. There’s no stopping globalization
so as to
consider it; a practical approach would be to take on its
positive
aspects and work on an according direction to
prevent
this phenomenon from becoming harmful.
Concluding this topic as a
positive
trend for the
world
economies
, I would like to say that
countries
cannot
live
in isolation. They
have to
mutually
share their prosperity, technical know-how and undertake
trade
in order to sell their surplus products. The
world
economy
is interdependent. The economic progress of a nation would depend upon its ties with other
countries
.