Group 1 – IB Raleigh – Globalization: Pros and Cons

Globalization represent the opening of the world in economic , communication, Finance and lot of other aspect of the world today. People today need to be aware of the golbalization because nobody stop it. It is already well developed and more and more exchange between countries are hapening every years. But this phenomenon is subject to some criticizes , globalization can be seen as bad for the economy of a country and those are the reasons:

  • Information is more and more connected, nothing can be hide in nowadays world. Private life becomes public life, this is a consequence to the globalized world.
  • Concerning the economy, because everything is connected, when a country suffers a crisis, consequences reverberate to others such as for instance the subprime crisis.
  • Connected to others lead to failures. Everyone is dependent to everyone. When a country is sick, others suffer repercutions. Globalization is good in many ways but it structures a dependency between governments, economies, trades…etc
  • Competitivness is stronger, products turnover is huge….globalization increases all aspects of economies in good and in bad ways.
  • The competitivness leads countries or companies to look for profit instead of looking for the consequences on the environment.
  • A globalized world is a place without border which means there is less and less tradition. Specificity of countries is disappearing, culture is becoming global.

All this negative aspects of Globalization do not represent the overall opinion and it have lot of good aspect of globalization such as :

  • Globalization developed job creation all over the world. For example  big companies  can offshore their work in order to be more competitive and in the same time create job in less developed countries
  • It developed the communications tools also and now almost everyone in the world can be well informed about foreign news.
  • Thanks to globalization there is more and more innovation and new ideas from abroad
  • It developed exchange between different cultures and increase the open-mindness of people. Now, people are obligated to work with people from different culture.
  • It make it easier to make trade between countries all over the world

As a conclusion, globalization proved in many ways the progress it can generate for a country. Small countries took there chances to grow thanks to globalization. Some of them are now potential competitors in the world stage, where Triade countries had the monopoly. So thanks to globalization, rules have changed and everyone has a chance.

Yet, globalization allowed small actors become bigger and faster but lead them to an uncontrolled economy. Everything goes fast and conduct to generate unstable economies.

 

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