According to us, here are the pros and cons of globalization:
– Globalization facilitates foreign investment because capitals are nowadays really easy to move.
– Globalization reduces poverty in the world as figures show that poverty is decreasing.
– Global competitiveness and fast plus no expansive imports allowed to keep prices away from huge inflation.
– Possibility to work abroad with usually a higher salary.
Political side: with globalization each country can make decisions by keeping the benefit and example of others countries in mind. Also, important issues (such as global warning) become a concern of the whole world.
Cultural aspect: thanks to globalization more informations are shared easily accross the world. People are better aware of what’s happening in every countries. Moreover, knowledge can be spread very easily worldwide.
– Globalization makes the rich richer and left the poor poorer. For example, even if developing countries benefit from job outsourcing, and thus from the increase of job opportunities, the power still remains in the hands of the developed countries.
– The worldwide finance is a part of globalization. It increases capital flows with a very high volatility of assets.
– Competition in some sectors becomes extremely hard and profit driven companies do not hesitate to move their plants and activities abroad to benefit from a lower salaries policy of the country.
Cultural side: some countries have lose a part of their own indentity, culture and beliefs. For example, with the americanization, due to globalization, american culture is present in pratically every country