Globalization of trade has been a controversial topic for a long time. Although some people believe that it is essential for growth and development, others argue that it has an adverse effect on local industries. In my opinion, the flow of goods across countries is crucial for economic development.
On the one hand, globalization is considered as a necessity for the growth of world economy. Firstly, it promotes rapid development of goods with better quality. Different countries excel in the production of different goods and because of globalization they are able to share the finished products with the rest of the world. Secondly, it helps in producing cheaper goods. Market size has changed from local size to international size which helps manufacturers to produce goods in huge quantity and hence at cheaper prices / rates. Additionally, it makes resources available across the planet. For example, countries like Saudi Arabia import all the food products from other countries as their land is unfit to support the vegetation and export crude oil to other countries.
On the other hand, people are against international brands because it creates a lot of competition for small brands operating in a limited area. For example, with the arrival of international shoe sellers, local manufacturers are facing trouble in selling their products. Additionally, international brands are much cheaper than local brands. Consequently, local shopkeepers struggle hard to sell their products against their cheaper counterparts. This may also lead to poor economy growth for countries that import much more than they export.
In conclusion, while globalization may have a negative impact on local businessmen, it is necessary as it promotes the development of technology and world economy.
Globalization of trade has been a controversial topic for a long time. Although
some
people
believe that it is essential for growth and development, others argue that it has an adverse effect on
local
industries. In my opinion, the flow of
goods
across
countries
is crucial for economic development.
On the one hand, globalization
is considered
as a necessity for the growth of world economy.
Firstly
, it promotes rapid development of
goods
with better quality.
Different
countries
excel in the production of
different
goods
and
because
of globalization they are able to share the finished
products
with the rest of the world.
Secondly
, it
helps
in producing
cheaper
goods
. Market size has
changed
from
local
size to
international
size which
helps
manufacturers to produce
goods
in huge quantity and
hence
at
cheaper
prices / rates.
Additionally
, it
makes
resources available across the planet.
For example
,
countries
like Saudi Arabia import all the food
products
from
other
countries
as their land is unfit to support the vegetation and export crude oil to
other
countries.
On the
other
hand,
people
are against
international
brands
because
it creates
a lot of
competition for
small
brands
operating in a limited area.
For example
, with the arrival of
international
shoe sellers,
local
manufacturers are facing trouble in selling their
products
.
Additionally
,
international
brands
are much
cheaper
than
local
brands
.
Consequently
,
local
shopkeepers struggle
hard
to sell their
products
against their
cheaper
counterparts. This may
also
lead to poor economy growth for
countries
that import much more than they export.
In conclusion
, while globalization may have a
negative
impact on
local
businessmen, it is necessary as it promotes the development of technology and world economy.
11Linking words, meeting the goal of 7 or more
35Repeated words, meeting the goal of 3 or fewer
0Mistakes