1.

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. Globalization's motives are idealistic, as well as
opportunistic, but the development of a global free market has benefited
large corporations based in the Western world. Its impact remains mixed for
workers, cultures, and small businesses around the globe, in both
developed and emerging nations. Globalization is not a new concept.
Traders traveled vast distances in ancient times to buy commodities that
were rare and expensive for sale in their homelands. The Industrial
Revolution brought advances in transportation and communication in the
19th century that eased trade across borders. Globalization has
advanced social justice on an international scale as well, and advocates
report that it has focused attention on human rights worldwide that might
have otherwise been ignored on a large scale. Globalization has resulted in
the widespread sharing of - and access to - information around the globe.
Cultural trends are exchanged through music, art, industry, clothing style,
and technology. People around the world are more connected than ever
before through social media platforms such as Facebook, Twitter,
Instagram, and others. Mobile phones and cellular networks, in addition to
the Internet, allow people to communicate and connect across nations and
borders. Advancements in transportation have led to more opportunities for
travel across borders, especially for those with more access to wealth.
2. With the development of the global market in China, globalization plays an
important role that is undeniably because China has the fastest growing
economy in the world. Globalization provides good conditions for expanding
international exchanges and strengthening mutual communication between
different countries. The implications that an increase in Chinese integration
into the global financial system are many, with positives and negatives for
both the Chinese and the Western world. In Hong Kong there have been a
number of political battles due to a feeling that with the increase of
globalization came an increase of "Chinaization". Globalization has been
driven by the global expansion of multinational corporations based in the
United States and Europe, as well as the worldwide exchange of new
developments in science, technology, and products. The direction of cultural
flows has often been one-sided, and worldwide export of Western culture to
non-Western nations has proliferated through new forms of mass media:
film, radio, television, recorded music, and most recently the internet.
Development and growth of international transport and telecommunication
played a decisive role in modern globalization. While cultural globalization
has increased cross-cultural contacts, it has also been accompanied by a
decrease in the uniqueness of once-isolated communities. Many argue it is
a process of homogenization, and more specifically a process marked by
the global domination of American culture at the expense and erasure of
other cultures. Multiple anti-globalization movements have emerged out of
 this concern, protesting against globalization and giving new momentum to
the defense of local uniqueness, individuality, and identity.
3. Globalization has also been good for Multi-national corporations and Wall
Street. But globalization has not been good for working people (blue or
white collar).

Good

 Globalization comprises the integration of cultures, information technology,

investment, and international trade.
 Corporations acquire a competitive advantage through globalization. It helps them
lower their costs of operation.
 Governments worldwide incorporate free-market economic systems due to foreign
trade agreements and their economic policies.
 Globalization has increased awareness among global consumers of different
opportunities for investment, economic trends, and new products.
 Socially, globalization provides populations around the world with better
interconnectedness. Culturally, it promotes the increase in the exchange of values
and ideas.
 Globalization enables developing countries to draw level to industrialized countries
via economic expansion, diversification, and manufacturing.
 It gives the outsourcing industries a big boost, bringing technology and more jobs
to other countries.
 It encourages many companies to specialize, increase their capital, improve their
research and development efforts, and help them innovate.
 It provides more employment opportunities, especially in the export and import
sectors.
 The household income gains an increase through globalization. It reduces inflation
rates and increases workers’ take-home pay because the cost of consumption is
lower.
 Globalization allows many goods to be more affordable and available to more parts
of the world.
 It helps improve productivity, cut back gender wage discrimination, give more
opportunities to women and improve working conditions and quality of
management, especially in developing countries.
 Bad

 Globalization is a threat to national and local economies. Global companies

coming into emerging and developing nations have the tendency to impose their
ways, practices, and culture onto the target nations.
 It can lead to the implementation of foreign concepts and ideas. In countries where
Islamic culture dominates and other countries with different practices and beliefs,
imposing Western culture and ideas could be detrimental. In some cases, it can lead
to the question of national identity.
 Although globalization exposes other languages to more people, it can also cause
some minority languages to disappear.
 Automation and technological advancements displaced workers, leaving them
unemployed.
 As more cities, communities, and countries become industrialized due to globalization,
it also brought about the loss of biodiversity, growth of the local population, and
climate change.
 Free trade poses more significant risks to small, family-owned, and private companies
competing in the global market. They have to face stiff competition from companies
with huge resources.