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Globalization is the process of worldwide integration of economic, financial, cultural

,
environmental, and communication system.
Globalization refers to a scenario where countries and nations around the world becomes inter-
connected and interdependent for meeting their needs, both internal and external,
characterized by:

 advanced transportation system (road, sea, and air) between countries,
 movement of capital between countries in the form of investments,
 cross-border transaction of goods and services,
 wide scale financial transactions between nations,
 easy migration, movement and settling up of people in foreign countries,
 inter-exchange of labor between countries, both skilled and unskilled,
 flow of raw-materials, semi-finished goods, finished goods, and services to foreign
countries,
 flow of resources from one country to another, both material and human resources,
 massive use of technology including internet technologies,
 transfer of technology and including defense technologies,
 international treaties for defense and security tie-ups,
 international dimension of large business enterprises,
 communication across the globe, and
 massive sharing and exchange of knowledge between countries.

What are the advantages of Globalization?

The advantages or merits of Globalization is discussed below in points:

 Globalization broadens our minds. We feel that we belong to one world and we are a
part of one nation, namely, humankind.
 Closer contact with foreign people make us quite familiar with their manners, habits,
and customs. The cultures become richer as they come into contact with each other.
 Globalization help us shake off narrowness. We get the chance of comparing our
country with other countries. In this way, we enrich our manners, customs, and habits.
 Globalization help us fight illiteracy and promotes education. It gives us clear knowledge
of facts and things.

The environment has suffered greatly due of globalization. etc. food.  Due to globalization. This is yet another disadvantage of Globalization. Some places on earth. On one hand. A merchant can gather valuable information about different commodities in different countries. .  Globalization has helped the global community to fight against poverty. many people in under-developed nations have shed their traditional dress. dowry. and rituals. custom. Firsthand knowledge of people and things is of great importance in international business. Globalization tends to make the world a more homogeneous place. What are the disadvantages of Globalization? The disadvantages of demerits of Globalization is discussed below in points: In a way. As a result.  The benefits of science and technology have reached every corner of the world.  Globalization help us shed or combat the burning social issues such as child-labor. Rich and wealthy people are able to exercise more control over the national resources through the application of science and technology. the increase in traffic between countries has polluted the tourist destinations. many communities failed to preserve their old tradition. They have successfully done huge fund-raising in this regard.  Globalization has enhanced our knowledge of the world. Large non-profit and charitable organizations have launched massive campaigns to fight hunger and poverty. Being attracted by the culture of developed nations. Globalized business has exploited the natural resources of the earth beyond the tolerable limit.  Students can study anywhere in the world. and culture. The human life becomes global.  Globalization contribute in improving international relations and friendliness among different nations. On the other hand. We have a global outlook on life.  we can communicate with people all over the world. the poisonous gases released into the air by large industries have caused environmental pollution. a political leader can gather much useful knowledge of the people. forms of government around the world. which was once rich in minerals and forests can no longer claim their richness. globalization has contributed towards increasing the gap between the rich and the poor. People around the world are connected through mobile phones and internet technology.

The global economy is now inter-connected. Last century has witness spread of diseases from one country to another country. Further. Very often. There are few employment opportunities for unskilled labors in a global environment. On one hand. The more technologically advanced countries are able to sell their products to less-developed countries.Local businesses. Globalization can pressure us to act in a certain way. Globalization has caused specialization of labor. However. The local industries could not compete with their global counterpart. thus. Conclusion: In spite of so many disadvantages of Globalization. and measures should be taken to mitigate the ill effects of Globalization so that every nation can take the fullest advantage of Globalization. Globalization is responsible for the emergence of large number of multi-national companies. Cottage and small-scale industry suffered a lot due to globalization. forests have been cut for setting up large industries. it is found that they do not provide good working condition to the workers. Diseases spread to local places when a diseased person from a foreign country comes in contact with local inhabitants. The industrial discharges have widely contributed towards environmental degradation. the less developed countries become dependent upon the superior nations. . The adverse effect of globalization is not restricted to financial and economical imbalance. caution. it has caused enough disadvantages for the unskilled labor group. is a reality. hand-loom industry. one must admit that no country can afford to ignore the wave of Globalization. there is an increase in demand for skilled labors. Hence. The highly specialized and efficient multi-national companies take advantages of large-scale production and put products at throwaway prices. Globalization. However. adequate care. The economic downfall of one major economic nation adversely affects the entire global community.