The importance of globalization in the development of a nation was always a debatable topic, but it has now become more controversial. Some masses opine that it is fundamentally beneficial for the people, but in my opinion, globalization has both positive and negative impact on the society. This essay will delve deeper into pertinent arguments and discussions before deducing a plausible conclusion.
There are myriad of benefits of globalization, but the most preponderant one is that it has contributed a lot to the world economies by allowing free trade practice all across the globe. With the ever increasing import and export of goods, people have access to all the luxuries of life. In addition, with foreign investments, employment also follows in a developing nation. For instance, when globalization was introduced in India in 1991, many multinational companies started their business in India, leading to staff requirement, and eventually, rises in employment, which eradicated poverty from the nation due to unemployment. Along with this, globalization has transformed the world into a global village as people are employed in many multinational enterprises operating all over the world.
Paradoxically, it has disruptive effects on the society as well. It leads to the rise and spread of many deadly epidemics due to faster means of transportation because products manufactured in an affected country carry virus or bacteria of the disease with themselves to the export destination. Also, it affects culture to a large extent as people try to imitate the cultures of other countries, as a result of which natives begin to lose their cultural identity.
To conclude, I would like to reinstate my belief that although globalization plays an increasingly important role in society, its detrimental effects cannot be ignored.
The importance of globalization in the development of a nation was always a debatable topic,
but
it has
now
become more controversial.
Some
masses opine that it is
fundamentally
beneficial for the
people
,
but
in my opinion, globalization has both
positive
and
negative
impact on the society. This essay will delve deeper into pertinent arguments and discussions
before
deducing a plausible conclusion.
There are myriad of benefits of globalization,
but
the most preponderant one is that it has contributed a lot to the world economies by allowing free trade practice all across the globe. With the
ever increasing
import and export of
goods
,
people
have access to all the luxuries of life.
In addition
, with foreign investments, employment
also
follows in a developing nation.
For instance
, when globalization
was introduced
in India in 1991,
many
multinational
companies
started
their business in India, leading to staff requirement, and
eventually
, rises in employment, which eradicated poverty from the nation due to unemployment. Along with this, globalization has transformed the world into a global village as
people
are employed
in
many
multinational enterprises operating all over the world.
Paradoxically
, it has disruptive effects on the society
as well
. It leads to the rise and spread of
many
deadly epidemics due to faster means of transportation
because
products manufactured in an
affected
country carry virus or bacteria of the disease with themselves to the export destination.
Also
, it affects culture to a large extent as
people
try to imitate the cultures of other countries,
as a result
of which natives
begin
to lose their cultural identity.
To conclude
, I would like to reinstate my belief that although globalization plays an
increasingly
important
role in society, its detrimental effects cannot be
ignored
.