Discuss the Positive and Negative Effects of Globalization in the World Today

Topics: Globalization, World Trade Organization, International trade Pages: 2 (529 words) Published: November 30, 2010
Today the world is more like a 'global village' which was coined by the Canadian academic Marshall McLuhan in 1969. It was almost impossible that people from the southern hemisphere knowing what was happening on the other side of the planet before the 20th century. But now people from different countries can keep in touch with weak barriers of geography due to the advanced technology in communications. Without a doubt that the era of globalization is processing.

Globalization may be defined as a concept refers to the intensification of consciousness of the world as a whole. Majority of people are for the trend of globalization for it undoubtedly brings benefit to human. However some people argue that globalization also has disadvantages to the whole world. This essay aims to discuss the positive and negative effects of globalization in different areas: economic, cultural, political, and social systems.

The economic area is perhaps the most obvious sign of globalization. Due to growth in global business activities such as foreign trade, investment, and tourism,the whole world has strengthened interdependency. Multinational companies spread widely to bring products and services as well as job opportunities to the whole world. In recent decades the volume of world trade has risen twelvefold. However, owing to the money market no more blocking, the regional financial crises can quickly influence the globe as the 2008 financial crises. Furthermore, the economic domination is another danger of economic globalization. The gap between rich and poor countries has widened in recent years mainly due to the power controlled by the rich nations. Fortunately, there are some organizations such as the WTO (World Trade Organization) which might promote the fair trade between different nations.

It is great benefit that people now can easily know about diverse cultures of other people from television or directly travels due to the shrinking planet. But this convenience...
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