The term globalization is the process of transformation of local phenomena into global ones. It is when different countries start to connect together as a whole, when people around the world are more linked to each other than ever before, when information and money flow more speedily and when goods and services produced in one part of the world are increasingly obtainable in all parts of the world. And it has brought both positive and negative impacts to the world. Therefore, in this essay, both the positive and negative effects of globalization on the world will be discussed.
First of all, let us look at the impacts that globalization brought to the global economy. Globalization has brought up the world’s economy. Countries move to market sectors that they are better at, which means that the labor in a country is going to do what it’s best at; for example, there is no need for American to do manufacturing when someone in China can do it better. Countries in the globe trade goods with each other, and it hastened the trading rate. By trading with each other, knowledge and technologies exchanged and was shared among countries; therefore, the world innovated and improved faster. Globalization not only exchanged ideas and knowledge but also created positive competition between countries.
Secondly, the trend of globalization also provides the people of the developing countries different kinds of jobs to live their lives and the developed ones a great many benefits. Globalization has created the concept of outsourcing; for example, work, such as software development, customer support, marketing, accounting and insurance, is outsourced to developing countries like India. Thus, the company that outsourced the work enjoys the benefit of lower costs because the wages in developing countries is far lower than that of developed countries and they can also reduce environmental