Essay #3

Caitlin O’Connor

Essay #3

English 101

            Globalization is the process by which different societies, cultures, and regional economies integrate through a worldwide network of political ideas through transportation, communication, and trade. This process happens in all parts of the world. Globalization is the increasing communication between the two countries of the world uniting. The acceleration in globalization can be attributed to an increase in free-trade activities, emerging technologies, or the worldwide acceptance of markets. Globalization is supported by economic theory of neoliberalism.

            First, I’m going to explain the pros and cons of globalization. The increase in jobs is a direct consequence of globalization, especially in developing countries. In under developing countries because important countries build factories in poor countries. An important factor to consider in these countries is there economic systems, working conditions are inferior to richer countries. The reason richer countries put their factories in poorer countries is to reduce cost in employment and cost of goods. Also, another advantage is that the lower the price causes the cost of production to go down. This always corporations have greater flexibility to operate across borders. “Apparel and Consumer Electronic are two areas in which globalization offer significant cost reduction opportunities mainly due to the products being small, lightweight and high value which are easy and relatively inexpensive to ship (Simultaneously grow revenues). “

            

            Now I’m going to talk about the disadvantages of globalization. One is in developing countries, rising unemployment and poverty cause big companies to migrate to where employment is cheaper. Another reason is for small companies it allows for fewer opportunities to compete with larger corporations. This is because bigger companies of bigger productions. In the technology aspect of this, with the development of media the same information is transmitted worldwide. This causes people to react similar to ways of thinking and have similar interests worldwide. The disadvantages of the similar thinking around the world come with the loss of certain customs. 

            In conclusion, I think globalization benefits us in some ways. Such as the developments of technology and the progress it is making our society evolve. Although I don’t like how it takes from the less fortunate by taking advantage of the poorer countries for cheaper labor and cost of goods. It is important that everyone know globalization cannot be stopped. It should be said that there should be some changes to it to redirect it in a different way.   

Citation Page

Collins, Mike. “The Pros And Cons Of Globalization.” Forbes, Forbes Magazine, 6 May 2015, www.forbes.com/sites/mikecollins/2015/05/06/the-pros-and-cons-of-globalization/#6559df95ccce.

Petersen, Julie. “Negative Effects of Globalization. Argumentative Essay Example.” AskPetersen, 25 Nov. 2016, askpetersen.com/argumentative-essay-negative-effects-globalization/.

Kuepper, Justin. “How Globalization Impacts International Investors and Economic Growth.” The Balance, The Balance, 29 July 2019, www.thebalance.com/globalization-and-its-impact-on-economic-growth-1978843.