Globalisation

Definition: the development of an increasingly integrated global economy marked especially by

free trade, free flow of capital, and the tapping of cheaper foreign labor markets.

National Goegraphic society (NGS)

The benefits and disadvantages of globalization are the subject of ongoing debate. The downside
to globalization can be seen in the increased risk for the transmission of diseases like ebola or
severe acute respiratory syndrome (SARS), or environmental. Globalization has of course led to
great good, too. Richer nations now can—and do—come to the aid of poorer nations in crisis.
Increasing diversity in many countries has meant more opportunity to learn about and celebrate
other cultures. The sense that there is a global village, a worldwide “us,” has emerged.

Cambrige dictionary:

the increase of trade around the world, especially by large companies producing and trading
goods in many different countries

Say:

If you put the bad and the good on the scale it leans in favour of good.

Benefits

1. globalization decreases the cost of manufacturing

2. companies can offer goods at a lower price to consumers.
3. increases in the standard of living
4. Consumers also have access to a wider variety of goods.
5. allows companies to find lower-cost ways to produce their products
6. creates a larger variety of choices for consumers
7. Lowered costs help people in both developing and already-developed countries live
better on less money
8. Access to New Markets. ...
9. Spread of Knowledge and Technology. ...
10. Enhanced Global Cooperation and Tolerance. ...
11. Promotes Economic Growth. ...
12. Increased Competition. ...
Increased economies of scale
Disadvantages
Intergovernmental organizations. Globalization has made it possible for
international organizations to be created through treaties between many
different countries. Examples include the European Union, the United
Nations, the World Bank, the World Trade Organization (WTO), and the
International Monetary Fund (IMF).
Side note :
In simple words it means that globalisation helped small local businesses
to expand and, therefore, helped the country to be known. This obviously
helps the country with tourism and, if the brand/s gets bigger, so richer it
gives arrachement to the country and its future.

 Unequal economic growth. ...

 Lack of local businesses. ...
 Increases potential global recessions./ globalisation as i already said usually
helps small businesses in their growth, so it is normal that in the process it
wont have so much success, its not always caused by gglobalisation, in fact
most of the times its caused by a devastating historical event
 Exploits cheaper labor markets./ usually globalisation helps smaller local
businesses in their growth, therefore it helps the smaller brands to have a
bright and successful future. Globalisation ALWAYS starts with a small local
business.
 Causes job displacement./ it actually helps to create new employee ent
opportunities, therefore the job displacement is just a management of « job
immigration » Meaning : people working in a place in order to settle in. In
fact the management is in favour of the business, usually employee
immigrants are people who know that they will leave the job, so the business
chooses to not choose employees with that intention in order to leave places
for people that will stay in there and that want, not only to work for money, but
also for the well being of the brand.