A paragraph of not more than 250 words write a synthesis on the advantages and disadvantages of globalization
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A paragraph of not more than 250 words write a synthesis on the advantages and disadvantages of globalization
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Answer: The advantages of globalization are: (1) it represents free trade internationally which promotes global-based economic growth that produces more jobs and opportunities (2) It lessens prices of many products since competition from other countries increases (3) it provides poor countries with the opportunity to develop economically (4) it opens a worldwide market for companies and consumers who can now have access to products of different countries (5) politics is merging and decisions taken become beneficial for all people around the world (6) there is more influx of information between countries (7) there is cultural interaction between different countries (8) financial problems are being solved quickly because of cooperation of different countries (9) skills can be promoted to other countries. The disadvantages of globalization are: (1) the general view of most countries is that rich countries become richer and poor countries became poorer (2) free trade has limits because taxes differ in each countries (3) jobs are lost because they are transferred to lower cost countries (ex. BDO)
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