Globalization, Force for Good

1175 Words5 Pages
Globalization, force for good? “Overall, globalization is a force for good in the world.” In this essay I will be discussing whether globalization has improved our world or downgraded it. At this moment the nations of the world have a high level of independence, globalization has contributed to enriching countries, it provided opportunities to enrich countries. It impacted on markets and services in a positive way considering they have grown and are still growing. Not only have countries been given the opportunity to exploit their comparative advantages but they can also change their comparative advantages using technology, this gives them the chance to move up the value chain, which improves the living standards of people in poverty and increases their income. However globalization has also had a negative affect on countries. It puts countries, poor countries in particular, in risk. “A housing loan crisis in the US eventually translates into rocketing youth unemployment in Spain. A banking crisis in Cyprus sends shares on the world’s stock exchanges lower. Curbs on the importation of gold in India impact on the earnings of Ghanaian and South African gold miners. “- Gill Marcus. Therefor while globalization has developed our world massively in terms of supply chains, technology and finance, these factors have also made the world we live in more complicated and dangerous, specifically for people who have a low income. Globalization is also the cause of inequality in the worlds economy, considering the fact that globalization has benefited the rich much more than the poor. While poverty rates have fallen as a result of our world becoming globalized, the workers are still getting an incredibly low income, which might cause social instability and conflict. Globalization has had a positive impact. One of the main advantages is that based on per capita GDP
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