Advantages of Globalization
The pros of globalization are many and they are as follows: • There is a worldwide market for the companies and for the customers there is a better access to products from different countries. • There is a steady cash flow into the developing countries, which gradually decreases the dollar difference. • Due to the presence of a worldwide market, there is an increase in the production sector and there are lots of options for investments for different companies. • Gradually there a world power is being created instead of compartmentalization of power sectors. Politics is merging and decisions that are being taken which are actually beneficial to people all over the world. • The influx of information between two countries increases, especially those nations who do not have anything in common between them. • Cultural intermingling increases and every nation tries to know more about the other nations cultural preferences. In this process, we are actually coming across things that we like and in the course of time adopt it. • Since we share financial interests, corporate and governments are trying to sort out ecological problems for each other. • Socially we have become more open and tolerant towards each other and these who live in the other parts of the world appear more approachable than before. • There is a lot of technological development that countries have undergone over the years. Thus, helping in sharing of information and technology. This helps most of the developing nations progress at the same speed as the developed nations. • Globalization helps in increase of demand of products. This in turn increases rate of production. Manufacturers thus, find this profitable and helps in availability of more jobs. • Globalization makes the economy of one country dependent on the economy of the other country. Any change in economy one country will affect the other. Thus, governments become more...
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