Globalization: Good or Bad?

Effects of globalization

This phrase has become very common now days that ‘we are living in an era of globalization’ but the point to ponder is that what actually the globalization is and how much we are getting or paying for this. This term ‘Globalization’ was once considered to be more or less an economic process but now it has got more depth as a comprehensive phenomenon that is reshaping our society. This empowering thought is nowadays implicating such a global connectivity that has made it possible to communicate within the whole world without any restriction of geographical boundaries, while this thing seems to be very fascinating similarly by going towards the other side of picture we can see that this crossing of borders is also producing many flattening effects of practice as well. Lets us consider both side of this phenomenon; the positive and the negative one and then decide which is beating the other.

Positive Effects of Globalization

The advent of globalization has brought a whole new way of communication by which the countries and their individuals can communicate with each other and solve their issues.

• Considering the business point of view, globalization has carried the businesses on the global scale allowing the markets of the entire world to collaborate and bring exciting facilities for the customers that can’t be available otherwise.
• The collaboration among the countries of the entire world has been made stronger with globalization, now countries can easily move to the markets at which they are better. The people of one country can do any work which they excel even if for that they have to go to some other country, kind of labour transfer which is very common now days.
• The concept of outsourcing has been flourished only because of globalization, now the software related work, marketing work, accounting and other such work can be outsourced to the developing countries like India and Pakistan and thus the benefits of lower cost can be obtained because the wages in developing countries are quite less than that of developed countries.
• Consumers is that group of individuals which should be called as true winner in globalization because the comparison of goods from all over the world will let them buy their desired product from that market which gives the most convenient price, the global competition among businesses will lower the price of goods thus the real winner is consumer in all cases.

Negative Effects of Globalization

Now let’s come to the other side ‘the negative one’ which is also quite drastic and brings a horrible face of globalization in front of the whole world.

• The concept of outsourcing which has been discussed in the positive effects strongly needs to be considered on the negative side as well because it is leading to fewer jobs for the people of developed countries. When the companies will outsource their manufacturing and white collar jobs to the developing countries than what will be left for the people of developed countries.
• Another gift of globalization is Job insecurity which is prevailing at very high rates these days, earlier people use to have stable permanent jobs but now days people have this constant fear of losing job because of the competition which has also caused reductions in wages.
• Terrorism has also flourished highly because of globalization because they can get access to highly sophisticated weapons for enhancing their power and they can also use the web for communicating with each other.
• The universal benefits can’t be achieved with this phenomenon because the rich are getting richer and poor are becoming poorer.
• The bad affects of any foreign culture can leave drastic results on the youth of any other culture via TV and internet.

Final Words

Thomas Friedman once explained the term globalization “When we were young kids growing up in America , we were told to eat our Vegetables at dinner and not to leave them, Mothers said,’ think of the Starving children in India and finish the dinner.’ And now I tell my children: ‘Finish your math’s homework. Think of the children in India who would make you starve, if you don’t!”

Globalization is thus a procedure or phenomenon which can’t be stopped, it will remain with us throughout out life because the positive impacts are those ones that can’t be paused and for the negative scenario it would be better for the countries to solve such issues and spread peace and prosperity of the whole world otherwise these unfortunate actions will keep on spoiling nations.