Gloablization Positive and Negative Impact

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Advantages of Globalization

Globalization means increasing the interdependence, connectivity and integration on a global level with respect to the social, cultural, political, technological, economic and ecological levels.

Advantages
* Goods and people are transported with ease and speed
* the possibility of war between the developed countries decreases * free trade between countries increases
* global mass media connects all the people in the world
* as the cultural barriers reduce, the global village dream becomes more realistic * there is a propagation of democratic ideals
* the interdependence of the nation-states increases
* as the liquidity of capital increases, developed countries can invest in developing ones * the flexibility of corporations to operate across borders increases * the communication between the individuals and corporations in the world increases * environmental protection in developed countries increases Effects of Globalization

* enhancement in the information flow between geographically remote locations * the global common market has a freedom of exchange of goods and capital * there is a broad access to a range of goods for consumers and companies * worldwide production markets emerge

* free circulation of people of different nations leads to social benefits * global environmental problems like cross-boundary pollution, over fishing on oceans, climate changes are solved by discussions * more trans-border data flow using communication satellites, the Internet, wireless telephones, etc. * international criminal courts and international justice movements are launched * the standards applied globally like patents, copyright laws and world trade agreements increase * corporate, national and sub-national borrowers have a better access to external finance * worldwide financial markets emerge

* multiculturalism spreads as there is individual access to cultural diversity. This diversity decreases due to hybridization or assimilation * international travel and tourism increases
* worldwide sporting events like the Olympic Games and the FIFA World Cup are held * enhancement in worldwide fads and pop culture
* local consumer products are exported to other countries * immigration between countries increases
* cross-cultural contacts grow and cultural diffusion takes place * there is an increase in the desire to use foreign ideas and products, adopt new practices and technologies and be a part of world culture * free trade zones are formed having less or no tariffs

* due to development of containerization for ocean shipping, the transportation costs are reduced * subsidies for local businesses decrease
* capital controls reduce or vanquish
* there is supranational recognition of intellectual property restrictions, i.e. patents authorized by one country are recognized in another Advantages in the Developing World

It is claimed that globalization increases the economic prosperity and opportunity in the developing world. The civil liberties are enhanced and there is a more efficient use of resources. All the countries involved in the free trade are at a profit. As a result, there are lower prices, more employment and a better standard of life in these developing nations. It is feared that some developing regions progress at the expense of other developed regions. However, such doubts are futile as globalization is a positive-sum chance in which the skills and technologies enable to increase the living standards throughout the world. Liberals look at globalization as an efficient tool to eliminate penury and allow the poor people a firm foothold in the global economy. In two decades from 1981 to 2001, the number of people surviving on $1 or less per day decreased from 1.5 billion to 1.1 billion. Simultaneously, the world population also increased. Thus, the percentage of such people...
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