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The world is amazing. You go down the street and you see restaurant's serving different types of foods, you see products from different parts of the world, it's amazing. Today in my paper I am going to be talking about Globalization and what it has to do with us. Because of globalization we are able to get try products from all over the world. I will also be going over the disadvantages of globalization such and the rise of overwhelming power corporations, unregulated growth in manufactures, and the threat to sovereignty
“Globalization is the word used to describe the growing interdependence of the world’s economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information.
Countries have built economic partnerships to facilitate these movements over many centuries. But the term gained popularity after the Cold War in the early 1990s, as these cooperative arrangements shaped modern everyday life.
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This guide uses the term more narrowly to refer to international trade and some of the investment flows among advanced economies, mostly focusing on the United States.
The wide-ranging effects of globalization are complex and politically charged. As with major technological advances, globalization benefits society as a whole, while harming certain groups. Understanding the relative costs and benefits can pave the way for alleviating problems while sustaining the wider payoffs”. (What Is Globalization? (n.d.).
The world as I see it has become a huge trading place for all sorts of goodies from around the world.
Each country has items that they make locally and see locally, and some countries even ship their products to other places in the world for a bigger business. Globalization also helps people purchase items that aren't necessarily available to them from where they are from. This is what It means when the term globalization is brought up. Sure, there are going to be people that can't afford to buy some from other countries, depending what it is, it can get pricey. But in the end, it's nice to know that it's there and if it is needed then it's not hard to get your hands on.
The major advantages of globalization are getting access to supplies in those places that need them the most. In which most countries hate to admit it, we are dependent on each other. Go into any store and see what's really made in the states we live in, it's not a lot of products. Because of globalization we are able to get the things we need at a store not even 5 minutes down the road. Because of globalization we are able to stress less and fill that gap of needs. I do believe that we take the use of globalization the most. We almost take advantage that we can get all of these goods from other places. The good thing about it too is its helping business for those that we are getting the products from. The more people like it the more people buy it, the more the manufacture has to make, bringing in profit for them. This helps people with jobs in areas where it may be harder to find work, and ca also help them afford those goods also.
Like I stated in my introduction every pro comes with cons. With globalization comes the rise of overwhelming power corporations, threats to sovereignty, and unregulated growth in manufacturing. Because we are so dependent of each other this may leave to corporations being power hungry. When corporations see money, they tend to get greedy and want more. They could raise the products on the items, in the end this will hurt them because people will stop buying their products. This will then lead to them not needing workers and having a lot of supplies that they can't sell. Bigger businesses will try to take over smaller businesses in the markets. One company with too much power is a risk to everyone. If they go down, they will have nothing left because they took over all of the other businesses. Because there is no cap on what and how much can be traded this could result in too much growth and not enough consumers. In the end globalization is a huge thing in this world, but if people get too greedy or making things that people aren't interested in, it will hurt everyone greatly.
What is Globalization: It's Advantages and Disadvantages. (2024, Feb 24). Retrieved from https://studymoose.com/what-is-globalization-its-advantages-and-disadvantages-essay
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