Is Globalisation a good or a bad thing?
Before moving to the main points, I’d like to give you an outline of my assessment. Initially, I’ll start by exploring the meaning of Globalisation and I will give some example of how it affects us. Thereafter, I will explain and clarify you what are the positive and negative impacts of Globalization. Finally, I will give my personal opinion about Globalization and a conclusion will be reached.
What is Globalisation?
We now communicate and share each other's cultures through travel and trade, transporting products around the world in hours or days. We are in a huge global economy where something that happens in one area can have knock on effects worldwide. This process is called globalisation.
Globalisation has been taking place for hundreds of years, but has speeded up enormously over the last half-century.
Globalisation has resulted in many businesses setting up or buying operations in other countries. Companies that operate in several countries are called multinational corporations (MNCs) or transnational corporations (TNCs). The US fast-food chain McDonald's is a large MNC - it has nearly 30,000 restaurants in 119 countries. Other examples of MNC/TNC are Shell, Nike, and Coca Cola.
Globalisation can affect anyone in everyday life. For example, people wear t-shirt made from China, they buy lamps made in Alaska or books made in UK.
Some people are the opinion that Globalisation has a positive impact over the world, whereas, others argue its negative impact. On the one hand, some people believe that globalisation is a good thing as it brings the world market together and creates chances for those in LEDCs. It also can help those in LEDCs to develop in economics by international trade. Despite this, Globalisation operates mostly in the interests of the richest countries, which continue to dominate world trade at the expense of developing countries. The role of LEDCs...
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