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Advantages of Globalization

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Advantages of Globalization

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  • May 24, 2005
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People around the world are more connected to each other than ever before. Information and money flow quicker than ever. Products produced in one part of a country are available to the rest of the world. It is much easier for people to travel, communicate and do business internationally. This whole phenomenon has been called globalization. Spurred on in the past by merchants, explorers, colonialists and internationalists, globalization has in more recent times been increasing rapidly due to improvements in communications, information and transport technology. It has also been encouraged by trade liberalization and financial market deregulation.

Globalization offers a higher standard of living for people in rich countries and is the only realistic route out of poverty for the world's poor. Pro-globalization groups e.g. World Trade Organization and the World Economic Forum believe that globalization helps to reduce poverty and increase living standards as well as encourage a better cultural understanding. Also, due to globalization, there can be international co-operation to solve environmental and social problems.

Technology has now created the possibility and even the likelihood of a global culture. The Internet, fax machines and satellites have swept away the old national cultural boundaries. Global entertainment companies now seem to shape the understandings and dreams of ordinary citizens, wherever they live. Globalization leads to better cultural understanding and tolerance. Because of improvements in travel, more and more people are traveling to different countries, thereby spreading their culture to other parts of the world.

The beauty of globalization is that it can free people from the tyranny of geography. Just because someone was born in France does not mean they can only speak French, eat French food, read French books, enjoy French entertainment etc. A Frenchman -- or anyone for that matter -- can take holidays anywhere in the world, eat...