KAREN JOY Q.

ISIDRO 04/08/22
BEED-1

THE CONTEMPORARY WORLD

Globalization enhances the level of economic integration among countries. Globalization

has been the driving force of value creation but also of inequality; it offers greater choices of
goods and services but has also caused the disappearance of domestic company that could not
adapt to global competition. Some argue says that globalization is a positive development
because it will give rise to new industries and more jobs in developing countries. Other say that
globalization is negative because it will force poorer countries of the world to do whatever the
big developed countries tell them to do. The positive effects of globalization are gives access to a
larger market, through globalization countries and companies have access to a bigger consumer
base. Instead of selling products in their country a business can expand to other regions boosting
sales and in process making more money. The negative effects of globalization are cause
environmental damage; globalization has led to increased production for businesses in order to
meet global demand. Increased production means more natural resources are used and this can be
used up to before they are regenerated leading to a negative impact of globalization. As a
student, we need to reinvest in dislocated communities, lower the costs and barriers to trade;
match smaller firms with foreign markets, match communities with foreign investors and provide
greater safety net measures. The effect of globalization in technology is to stimulates the spread
knowledge and technology, helping spread growth potential across countries. Investments in
education, human capital, and domestic research and development are thus essential to build the
capacity to absorb and efficiently use foreign knowledge. In value system is under the influence
of globalization, openness, information coming from the media, and contact with other cultures
traditional values are changing. The globalization processes also the effect local communities
with their traditional values. Job opportunities affect the structure jobs. Jobs linked to certain
economic activities may tend to disappear where the jobs linked to other, maybe new activities,
are created due to changing competitive advantages and patterns of specialization. Exchange of
product effect the sharp increase in trade and economic exchanges, but also to a multiplication of
financial exchanges. And the culture and religion effect the diminishing the barriers between
different cultures, globalization lands religion in a quagmire of conflicts which reinforce social
identities as some do not accept the new realities and turn to religion to rediscover their own
identity.