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Benefits and Disadvantages of Globalization

Benefits and Disadvantages of Globalization

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Globalization is a complex notion that consists of culture, environment, society, politics, and economy. There is much discussion about the benefits and drawbacks of this process, but still the orientation on the globalization course does not change. The benefits prevail and in comparison to the profit the countries get, the drawbacks do not worry the community to the extent that is enough for changing the situation.

It is possible to say that political and economic factors are the most important ones in the globalization process. In addition, they are interconnected and provide the leaders with the most desirable things – to have money and power. The entire process is about investing into foreign markets and connecting them together in a system. Those, who support globalization claim that this activity gives the developing countries the possibility to become industrialized in a short period of time, to become more technologically advance and to increase the level of employment for its citizens. Asian countries are bright examples of the positive impact globalization has on economy. Chinese economy is now on the second place in the world and it becomes more stable with the time, as the comparison of the growth rate in 2012 and 2013 years shows (Pettis 2013).

From the viewpoint of businessmen, globalization is a positive process, because it allows them to use cheaper human resources for their needs. For example, numerous call centers and technical support centers of the Western companies are in India and Eastern Europe. It happens because the level of life in those countries is lower than in Western Europe or in the USA, but people know their work on the sufficient level. The businessmen do not want to pay their compatriots more, if they can hire a cheap professional instead.

Globalization also has a positive influence on the quality of products people buy worldwide. It supposes free trade on the international level, which means that more companies can sell their production abroad. A big number of companies leads to tough business competition, and increased quality of goods.

Though, all these positive aspects have drawbacks. Globalization leads to the phenomenon when rich people become more rich, and poor people become more poor. International organizations like WTO, IMF, NAFTA and NATO control the monetary resources and in case of certain political problems on the international level the country might  lose all its money (Vasquez 1996).

Outsourcing is positive only for businessmen and for eemployees from the countries of the third world. Those people from the Western Europe and the USA who are not enough qualified to be top-professionals have difficulties in finding job, because they cannot live in the USA for 200 dollars the companies want to pay. That is why it is possible to say

Globalization really leads to the increased quality of production. However, it also leads to monopolization, when big companies occupy all local markets, and small companies, even if their production is of good quality, do not have chances to compete with them. As the result, people cannot develop small business, and the poor become poorer, as it was mentioned earlier.

It is difficult to state whether globalization has more advantages or disadvantages. It really has a positive influence on the economy of the developing countries, increases the quality of goods on the international level and economizes much money for business. Though, it leads to the growing unemployment rate in the Western countries due to outsourcing, stagnation of small business and increased risks for the developing countries to lose all their monetary funds in case of international conflicts. Despite all these negative issues, the globalization policy is still developing, and the chances that it will stop are minimal.

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