Globalization Good vs Bad

We begin the course discussions with a hot-button issue: globalization. Is the globalization of the world economy good or bad? Please support your opinion with examples.

In my opinion the globalization of the world economy is both good and bad. From an individual’s point of view it is good, because we can buy a huge variety of products from all over the world at a price that we can afford. Also, globalization offers us the opportunity to gain the career that we want to as we can obtain education abroad or find a job in another country. Furthermore, we can get in contact with people from all over the world broadening our horizon and knowledge of other cultures.

From a corporation’s point of view globalization is a good thing as firms have the world as their market place looking for customers and suppliers all over the world thus being more competitive through lower costs and better products and services. Also, a corporation can get the best workforce and know-how by hiring people from other countries.

Nonetheless, globalization also brings along negative aspects. One of them is that small, local companies die out as they are not able to compete on such a large scale. Customers prefer products from large companies as they are cheap and branded. Local restaurants, clothing and electronic manufacturers go bankrupt.

Although globalization can help in rising environmental standards by replacing highly polluting equipment with better ones, the fact that a lot more transportation (by plane, ship, trucks etc) is taking place around the world, and also the fact that expanding companies destroy untouched nature to build factories etc in developing countries leads to environmental problems all over the world.

For me personally, globalization is a good thing as I can travel and live in other countries, I like to consume products especially food from different cultures and I have a lot of friends all over the world with whom I can communicate easily over the Internet....