Advantages and disadvantages of globalization with respect to india
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The advantages or merits of Globalization is discussed below in points:
Globalization broadens our minds. We feel that we belong to one world and we are a part of one nation, namely, humankind.Closer contact with foreign people make us quite familiar with their manners, habits, and customs. The cultures become richer as they come into contact with each other.Globalization help us shake off narrowness. We get the chance of comparing our country with other countries. In this way, we enrich our manners, customs, and habits.Globalization help us fight illiteracy and promotes education. It gives us clear knowledge of facts and things.Globalization help us shed or combat the burning social issues such as child-labor, dowry, etc.Globalization has helped the global community to fight against poverty. Large non-profit and charitable organizations have launched massive campaigns to fight hunger and poverty. They have successfully done huge fund-raising in this regard.The benefits of science and technology have reached every corner of the world. People around the world are connected through mobile phones and internet technology.Globalization has enhanced our knowledge of the world. A merchant can gather valuable information about different commodities in different countries. Firsthand knowledge of people and things is of great importance in international business.Due to globalization, a political leader can gather much useful knowledge of the people, forms of government around the world.Globalization contribute in improving international relations and friendliness among different nations.we can communicate with people all over the world. The human life becomes global. We have a global outlook on life.Students can study anywhere in the world.
In a way, globalization has contributed towards increasing the gap between the rich and the poor. Rich and wealthy people are able to exercise more control over the national resources through the application of science and technology.The environment has suffered greatly due of globalization. On one hand, the increase in traffic between countries has polluted the tourist destinations. On the other hand, the poisonous gases released into the air by large industries have caused environmental pollution.Globalized business have exploited the natural resources of the earth beyond the tolerable limit. Some places on earth, which was once rich in minerals and forests can no longer claim their richness.Globalization tends to make the world a more homogeneous place. As a result, many communities failed to preserve their old tradition, custom, and culture. Being attracted by the culture of developed nations, many people in under-developed nations have shed their traditional dress, food, and rituals. This is yet another disadvantage of Globalization.Local businesses, hand-loom industry, Cottage and small-scale industry suffered a lot due to globalization. The highly specialized and efficient multi-national companies take advantages of large-scale production and put products at throwaway prices. The local industries could not compete with their global counterpart.The global economy is now inter-connected. The economic downfall of one major economic nation adversely affects the entire global community.Globalization has causedspecialization of labor. On one hand, there is an increase in demand for skilled labors. However, it has caused enough disadvantages for the unskilled labor group. There are few employment opportunity for unskilled labors in a global environment.The more technologically advanced countries are able to sell their products to less-developed countries. Hence, the less developed countries become dependent upon the superior nations.The adverse effect of globalization is not restricted to financial and economical imbalance. Last century has witness spread of diseases from one country to another country. Diseases spread to local places when a diseased person from a foreign country comes in contact with local inhabitants.Globalization is responsible for the emergence of large number of multi-national companies. Very often, it is found that they do not provide good working condition to the workers. Further, forests have been cutfor setting up large industries. The industrial discharges have widely contributed towards environmental degradation.Globalization can pressure us to act in a certain way.
The advantages or merits of Globalization is discussed below in points:
Globalization broadens our minds. We feel that we belong to one world and we are a part of one nation, namely, humankind.Closer contact with foreign people make us quite familiar with their manners, habits, and customs. The cultures become richer as they come into contact with each other.Globalization help us shake off narrowness. We get the chance of comparing our country with other countries. In this way, we enrich our manners, customs, and habits.Globalization help us fight illiteracy and promotes education. It gives us clear knowledge of facts and things.Globalization help us shed or combat the burning social issues such as child-labor, dowry, etc.Globalization has helped the global community to fight against poverty. Large non-profit and charitable organizations have launched massive campaigns to fight hunger and poverty. They have successfully done huge fund-raising in this regard.The benefits of science and technology have reached every corner of the world. People around the world are connected through mobile phones and internet technology.Globalization has enhanced our knowledge of the world. A merchant can gather valuable information about different commodities in different countries. Firsthand knowledge of people and things is of great importance in international business.Due to globalization, a political leader can gather much useful knowledge of the people, forms of government around the world.Globalization contribute in improving international relations and friendliness among different nations.we can communicate with people all over the world. The human life becomes global. We have a global outlook on life.Students can study anywhere in the world.
In a way, globalization has contributed towards increasing the gap between the rich and the poor. Rich and wealthy people are able to exercise more control over the national resources through the application of science and technology.The environment has suffered greatly due of globalization. On one hand, the increase in traffic between countries has polluted the tourist destinations. On the other hand, the poisonous gases released into the air by large industries have caused environmental pollution.Globalized business have exploited the natural resources of the earth beyond the tolerable limit. Some places on earth, which was once rich in minerals and forests can no longer claim their richness.Globalization tends to make the world a more homogeneous place. As a result, many communities failed to preserve their old tradition, custom, and culture. Being attracted by the culture of developed nations, many people in under-developed nations have shed their traditional dress, food, and rituals. This is yet another disadvantage of Globalization.Local businesses, hand-loom industry, Cottage and small-scale industry suffered a lot due to globalization. The highly specialized and efficient multi-national companies take advantages of large-scale production and put products at throwaway prices. The local industries could not compete with their global counterpart.The global economy is now inter-connected. The economic downfall of one major economic nation adversely affects the entire global community.Globalization has causedspecialization of labor. On one hand, there is an increase in demand for skilled labors. However, it has caused enough disadvantages for the unskilled labor group. There are few employment opportunity for unskilled labors in a global environment.The more technologically advanced countries are able to sell their products to less-developed countries. Hence, the less developed countries become dependent upon the superior nations.The adverse effect of globalization is not restricted to financial and economical imbalance. Last century has witness spread of diseases from one country to another country. Diseases spread to local places when a diseased person from a foreign country comes in contact with local inhabitants.Globalization is responsible for the emergence of large number of multi-national companies. Very often, it is found that they do not provide good working condition to the workers. Further, forests have been cutfor setting up large industries. The industrial discharges have widely contributed towards environmental degradation.Globalization can pressure us to act in a certain way.
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Advantages of Globalization
- Alteration of Technology: The global alteration of technology is a good sign. Countries can borrow the technology via agreements and implementation for overall development. Communication will be more accessible from any part of the globe by utilizing advanced technology at minimal cost, time, and effort.
- Better Services and GDP Growth Rate: Globalization always provides better services to people. Through technological progress, services such as water supply, networking, electricity supply, internet, and other services have become easier to deal with. Easy access to the internet is also the advantage of globalization. Globalization also ensures the participation of every country to uplift the world GDP growth.
- Improvement of Infrastructure: Governments can deliver their services to the people more efficiently owing to the advancement of infrastructure. It is worth mentioning that economic growth and the evolution of infrastructure are harmonious with each other in the development of a country.
- Affordable Commodities: With access to the latest technology, the countries can provide products to their citizens at affordable prices. Globalization encourages competition in domestic sectors. Companies reduce product prices or follow a discernment pricing strategy.
- Extensions of Market: Globalization favors the extension of markets. It provides an opening for domestic companies to go global.
Disadvantages of Globalization
- Rising Inequality: Globalization can raise the problem of inequality everywhere in the world by increasing specialization and trade. By trade boost of the per-capita income, it a cause relative poverty, worldwide.
- Growing Unemployment rate: Globalization can increase the unemployment rate since it demands higher-skilled work at a lower price. In countries where Companies are relatively incapable of producing highly skilled workers, the unemployment rate can increase in those countries.
- Imbalanced Trades: The balance of trade refers to the ratio between export and import of commodities and services. Any country can trade with any other country, and globalization causes an imbalance in this ratio. It is also termed ‘trade deficits.’ Over the years, trade imbalance has increased in developed countries by competition in the market.
- Environmental Harm: The speed of industrialization is rising as an outcome of globalization. Industrialization advances economic growth, but it also harms the environment. Various chemical industries use harmful fertilizers and solutions or release industrial wastes into nature that causes harm to human life and the environment.
- Exploits poorer labor markets: Globalization enables businesses to develop jobs and economic possibilities in developing countries by often offering cheaper labor costs. Yet, overall economic growth in such developing countries may be slowed due to globalization or, worse, become stagnant.
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