Topics: Globalization, International trade, Trade Pages: 4 (513 words) Published: October 13, 2014

Is Globalization (mostly) good or (mostly) bad?
Otgonkhishig Dashravdan
Colorado Heights University

If you look at the tag on your shirt, chances are you would see that it was made in a country other than the one in which you sit right now. This international exchange is just one example of globalization, a process that has everything to do with geography. Well what is Globalization?

Globalization is a process of interaction and increased interconnectedness among people companies and governments of different nations a process driven by international trade and investment and aided by information technology. Globalization is not new. Many years ago, people and corporations had been buying from and selling to each other lands at great distances, such as through the famed Silk Road across Central Asia that connected China and Europe during Middle Ages. Why Globalization affect good for us?

Globalization is like a tree. All roots branches of tree connected each other. It means now all countries are interrelated each other. Therefore there are lot of advantages. Increasing competition: one of the most visible effects is the improved quality of products due to global competition. “Customer is the king” approach to production have led to improved quality of product and services. Global competition encourages creativity and innovation and keeps prices for commodities/services in check. Foreign trade: I have a positive outlook regarding the net effects of globalization on economic growth. Trade among nations via the use of comparative advantage promotes growth, which is attributed to a strong correlation between the openness to trade flows and the effect on economic growth and economic performance. Spread of Culture: Culture has been defined differently people. Characterize culture is that has own personality and identify. I think Globalization effected cultural aspect of...
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