Advantages and disadvantages of globalization
However, we are not so thankful to globalization for taking our jobs away from us. Many countries experience a structural change in economy when the factories shift the operation to China. We wonder when the jobs will come back.
We know that the jobs may not come back for a long time. That is the huge disadvantage of globalization.
What are the other advantages of globalization?
The merchants love globalization. They can sell the goods and services to different parts of the world.
Internet promotes globalization. Writers from India are making money by ghostwriting for webmasters in US.
Globalization allows countries to specialize. China has the largest population, and it takes on labor intensive jobs.
In theory, developed countries can take on high technology industry. However, the people may not have the skills for it. After all, it is hard to expect everyone to earn a Master degree.
What are the disadvantages of globalization?
Globalization can create massive problems.
The financial problem of Greece nearly pulled the world into a recession again. Earlier on, the problem in Dubai sent the world into panic for a few days.
That is the problem of globalization. You do not know how a little-known country in the world can affect you.
Many people invest in mutual funds that invest in developing countries. A big problem in developing countries can cause them to lose all their money.
Pollution is another problem of globalization. Since our food sources come from so many different part of the world, pollution in one country can cause food poisoning in another country.
Pollution that leads to climatic changes is the worst of all. When a country burns the forest, you do not know how the climatic change can affect other countries. The flood and drought can occur in countries far away.
Is globalization stoppable? No, it is not.
Whether we like it or not, globalization is bringing...
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