The term globalization has been used to describe different countries join for economic political and educational equality. The countries joining together thinks about themselves as part of the world rather than as a separate country. The following are some of the advantages and disadvantages of Globalization.
Positive Impacts of Globalization
1. Adopting to Globalization increase free trading opportunities between countries. This allows business organizations in developed countries to invest in developing countries.
2. As the communication between the countries becomes open sharing of information became easier due to globalization. This has also contributed to the increase in speed of transportation of products.
3. Countries joining together through globalization will remove the cultural barriers and make the world a global village. Globalization makes the countries adopt the factors that are beneficial in the long run.
4. There is also a possibility of less war between developed countries due to globalization.
The Negative Impact of Globalization is as follows
1. If the rules and regulations regarding the protection of the environment are less in underdeveloped countries, other developed countries can manufacture products that may harm the environment.
2. A majority of big industries prefer cheap labour people in a skilled and non-skilled category will go for the job in developed countries.
Even though there is some negative impact due to globalization, the positive effects are dominating. It is also possible to reduce the various risks involved