Advantages and Disadvantages of Globalization

Globalization refers to “making worldwide.” It is the process of integration and interaction of

people from all the nations of the world. Globalization is facilitated in many ways, including
global trade and investments and international organizations and politics. The world is now
increasingly becoming interconnected, and this is what is being referred to as a “global village”
which means that it is becoming easier for one to interact with another person who is in another
continent through the technological advancements.
Globalization has been a continuous phenomenon. Globalization is a historical phenomenon
that has been happening for decades now. This phenomenon affects the business and exerts a
wide influence on society. The growth of the developing countries is the main cause of
globalization and it brings both opportunities and disadvantages to them.

Globalization is a change of a country in order to exchange and work with other countries or
in other words is a process of global economic, political and cultural integration. Globalization
play an integral part in developing countries, it creates more opportunities as well as more
benefits for country’s economic development, especially the industry which receives lots of
advantages from the alteration. Industry includes many different fields such as tourism, food
processing, clothing, electronic and mechanical products making, etc. Therefore, it is really
important for a country’s economy. However, it is not true that all effects of globalization are
positive, but it also brings up many new challenges and disadvantages such as competition with
other countries for goods, instability in commercial and financial market and also environmental
contamination.