Advantage & Disadvantage of Globalization
Answers
Images of globalisation are first increase in foreign exchange and goods from one country to another disadvantages of globalisation are small traders are exploited from the high competition among foreign companies
Globalization refers to several different concepts all rolled into one package. It may refer to the ease in which businesses conduct operations in different countries other than their own. Some look at this subject as a way to create a world without national borders. There are concepts of communication, information access, and technology development to consider when looking at this subject matter too.
Even though the geographic size of our planet remains consistent, how we interact with each other is changing by the minute. Despite more than 200 countries independently working for their best interests, we all come together in ways to make the world a better place. If you have access to a computer or mobile device with data or an ISP, then you can communicate with anyone else in the world with the same setup.
We are closer than ever before. That closeness also means that groups of people are further apart than ever before. Neighborhoods form around common interests or political perspectives more than our common humanity. Travel restrictions dictate where some people can go, and others cannot.
As the advantages and disadvantages of globalization show, even though progress occurs, we are also taking steps backward.
List of the Advantages of Globalization
1. Globalization allows us to pool all our resources together.
One of the best examples of globalization within our lifetime is the construction of the International Space Station. The cost to construct the ISS was $150 billion. Compared to the Mir station at $4.2 billion, the price tag is astronomical. When the first component for the ISS was launched in 1998, five different programs came together to join in ownership, cost, and operations. The United States, Russia, Canada, Europe, and Japan are all involved in the financing and continued operations of the program.