Globalization is positive for economies but its negative sides

should not be ignored.

To what extent do you agree or disagree?
It is maintained that, while globalization benefits economies, its drawbacks should not
be overlooked. This essay will explain why all components of this strategy should be
considered.

To begin with, globalization promotes economic and social development. To

demonstrate, corporations have the opportunity to launch their items all over the world,
resulting in customers having easier access to high-quality goods. For example, as a
result of globalization, general populace may be able to obtain European or American
items through their agencies, creating a type of work opportunity. Furthermore,
globalization connects firms or assets through global trade marketplaces, which leads to
socializing. Because of these factors, the beneficial sides of this movement are
apparent.

However, its disadvantages are inescapable. Economic shock poses serious challenges
to small enterprises. To save costs, multinational corporations have outsourced
production to foreign nations. Nowadays, China and India are the most popular
destinations for American and British electrical equipment and medications. Essentially,
globalization has migrated from one developed country to another developed one, while
impoverished countries have received no beneficial assistance to improve their financial
status. Furthermore, people are stressed as a result of employment insecurity.
Companies have more people who are willing to labor for low pay and long hours.

To summarize, the cultural and economic benefits of globalization are accompanied

with compromises. This article supports the idea that globalization has a significant
influence on economies; yet, policymakers should be wary of the gloomy side.