Globalisation:Advantages and Disadvantages

Globalization : Advantages and Disadvantages

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I . Introduction

It is obviously observed nowadays that every economic status of each country has been tried by times . It is phenomenal too that most of the nations nowadays are facing ups and downs which regard to their economic status . It is been witnessed as well how each country tries to overcome its economic dilemma . Economists attempt to resolve such crises but theless are not able to come up [banner_entry_middle]

with effective resolutions because most countries are still struggling to have stable economy . Even the most technologically advanced nations such as the United States of America and the European countries are not exempted for such crises and continuously looking for new strategies and approaches on how to cope with these phenomenal crises . Moreover , several industries around the globe are of these industries are declaring bankruptcy and presently closed because they are not able to cope up with the low demands in the local market . The supply and demand in the market depends on the economy of each country . The first one to be affected with the economic stability or instability is the consumers , then the industries . When there is economic stability , the flow of the supply and demand in the market is very high because consumers can be able to afford in purchasing products because of the affordable and reasonable prices stated but when there is economic instability and fluctuations , the industries will increase their product ‘s prices for them to cope with their losses and accumulate profits . And because of these , the selling of the industries has been affected because their valued consumers are unable to cope with the high-selling-prices and prefer not to purchase it anymore . And if the industries are starting to have difficulty in coping up their losses there will be retrenchments amongst employees to pull back its profits Because of this depressing scenario , the economists had arrived into a conclusion , after with so many deliberations , that they definitely believed that this strategy will surely help the economic status of each country and this strategy is called as globalization

The intents of this are to (1 ) understand what globalization is (2 ) know its historical precedents (3 ) be aware of the globalization ‘s characteristics (4 ) comprehend why there are anti-globalization and (5 ) scrutinize the advantages and disadvantages of globalization

II . Background

A . What is globalization

Globalization serves as an umbrella term for a complex series of economic , social , technological , cultural and political changes seen as increasing interdependence , integration and interaction between people and companies in disparate locations (see Globalization Wikipedia , the free encyclopedia . November 6 , 2006 . This would mean that every nation needs the help of other nations . There is no such self-contained or self-sufficient nation . The consumer ‘s wants and needs in every part of the world are better served by trading services and commodities . Distinctions in production and distribution expenditures influence and persuade decisions as… [banner_entry_footer]