Globalization: Pros and Cons

Nowadays the globalization is one of the most controversial issues in the worlds. On the one hand, it suggests that the working process should be simplified and, consequently, improved, though, n the other hand, it is argued that many people would loose their work and leave families without support. Many companies tend to be global and to see the world as a single country. (Griffith, 10) World economy supports globalization because it allows companies to expand their businesses all over the worlds. Therefore, globalization leads to increased profits for large companies. The main advantage of globalization is that it calls for ending trade barriers and promoted free trade relations among countries, as well as it promotes cheaper communication means and cheaper transportation along with free movements of the capital. (Longman Business English Dictionary) Further, globalization is able to change the world and the only thing people should do is to “recognize the common thread of humanity that ties … together”. (Ransome, 8)

Nevertheless, globalization can sharpen the gaps existing between the rich and the poor an, what is more awful, is that globalization destroys biological diversity and increases regional tensions. (Ellwood, 107) It is claimed that globalizations significantly increases inequality in earnings and, consequently, it leads to the fact that governments can loose their powers over development of strategies and foreign policies. Moreover, it is rather difficult for people to be transferred from one country to another to work. Adaptation isn’t quick process. In the end it is necessary to outline that globalization is the source of spreading commercial culture and this fact is of great importance. (Ellwood, 12)

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