Impact of Globalisation

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Essay on impact of Globalisation: Has Globalisation brought about more benefits or ills to countries around the world? Explain your answer. I think Globalisation has brought about more ills than benefits, even through it has brought about many benefits to countries around the world. However, there are countries that have benefitted from Globalisation and we will examine this from the economic, social and environmental aspects. Firstly, the economic aspect of globalization has brought about an improved standard of living for many people. As countries participate in trade and open their doors to investments, more money is earned and thus this revenue is channeled to the development of facilities such as healthcare, education and infrastructure that benefit the people and thus increase their standard of living. Moreover, Singapore’s pro-Globalisation policy has lead to an increase in the average household income from $4940 in 2000 to $5400 in 2005, and this has allowed the people to improve their lifestyles. Furthermore, with free trade, there is a greater variety of goods available to the people and they benefit from the wide range of choices available. (+ ve) Globalisation also creates competition among countries in terms of investments and markets as they compete for Transnational Corporations (TNCs) to invest in their countries. This leads to countries developing themselves to be more attractive towards the investors and thus boost infrastructure and economic development of the country. Dalian is an example of a city that has transformed itself from a developing area to a thriving sea and air port. It also has a sound financial infrastructure and industrial parks which provides jobs for its people, and therefore has benefitted China as a whole, as TNCs are increasingly attracted to it and help to develop the country further. (+ ve) However its is
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