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Advantages and Disadvantages of Globalization

What is globalization?

The term "globalization" describes the trend of nations coming together economically, socially, politically, and in terms of education, and seeing themselves as a part of the globe beyond their own national identities.

Advantages and Disadvantages of Globalization

Advantages of Globalization

  • Increased international free commerce.
  • Increased capital liquidity, makes it possible for wealthy investors to make investments in developing countries.
  • Businesses are more able to operate internationally.
  • Global mass media connects all people on Earth.
  • Vital information can now be transmitted globally between individuals and organizations thanks to an increase in communication flow.
  • Increased convenience and speed of people's and products' transportation
  • Decrease in the probability of war between affluent countries
  • Improvements in industrialized countries' environmental protection.

Disadvantages of Globalization

  • Increased migration of both skilled and unskilled workers from developed to developing countries as businesses look for the most affordable labor.
  • Greater chance that economic shocks in one country will affect all other nations
  • Financial issues are readily contagious.
  • The loss of national identity can result from the blending of cultures.
  • Small businesses are forced to close their doors because they are unable to compete with large, global corporations.
  • The wealthiest and the poor are getting farther apart.
  • Increased likelihood of illnesses inadvertently spreading between countries

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