Scanning Globalization: What are its Advantages and Disadvantages?

In a boundaryless world with instant access to information, you can traverse any place virtually within minutes. Such a world would be full of opportunities where the sky would be the only limit. No one would’ve dared to imagine such an outcast notion a few decades ago.

Globalization is the interconnectedness and interdependence of this world. The technological and economic advancements in the modern world are all due to globalization. A person sitting on his couch in the North Pole can order anything from the South Pole in seconds.

A person in Australia can check the temperature of any American city. As once the earth seemed like a limitless object on the horizon, globalization has turned the world into a global village.

Benefits aside, globalization is a two-faced sword. The increased dependence has multiple disadvantages, which are hard to ignore. So, this article is based on the pros and cons of globalization. We’ll assess how we’re taking advantage of this phenomenon, and how badly it is hurting us. So, without further ado, let’s get started.

Pros of Globalization

1. Access to New Markets: Multinational corporations are the biggest beneficiaries of globalization. Opportunities have been presented to them to explore new and bigger markets for their products and services.

Subsequently, people have also benefitted from this as their options have increased. Now, Americans can get a taste of Indian spices in America. So, globalization has given birth to altogether different markets.

• Tech Advancements and Innovations: People from different backgrounds when meet, give birth to different ideas. The results are such innovations that we see around us. Such game-changing advancements are beyond imagination.

For example, humans have been able to send thousands of rockets into space. How? Simply because of cooperation and collaboration. Let’s look at some more examples. Robots are working head and shoulders with humans in multiple industries. The internet has covered every nook and corner of the earth.

• Increased Job Opportunities: As companies entered new markets, they needed people who knew the demographics of respective areas. So, it created a lot of job opportunities for the locals.

Moreover, job platforms such as LinkedIn came into being with globalization. Now, people can find jobs anywhere anytime. However, such platforms require a quality connection. Without a connection, you may not be able to reap the fruits of globalization.

So, we recommend a connection like HughesNet. With such a top-notch connection, you can explore anything you desire. To avail of their services, you can connect to HughesNet’s website. They’re offering customer support in Spanish as well via  Hughesnet servicio al cliente en español.

• Bringing World Closer: Have you noticed how much food variety we have today? Not long ago, this wasn’t the case. Rarely we could find something that we weren’t familiar with. However, globalization has changed the scenario. Not only food, we’ve become accustomed to different traditions, cultures, languages, and beliefs.

Cons of Globalization

1. Environmental Degradation: Earth’s current condition is miserable. Earth’s temperature didn’t rise overnight. It took years and millions of malpractices to reach this point.

For so long, companies have been dumping waste in seas and rivers. Forests are cut down to make skyscrapers. The natural habitat of animals is disturbed in every possible way. All because corporations are in a race to increase revenues.

The originator of this race is none other than globalization. As markets expanded, so did the revenues. Consequently, every corporation became greedy and selfish.

• Monopolization of Multinational Companies: “A small fish cannot eat a big fish”. Just like that, small businesses cannot compete against big corporations. Multinational companies have the leverage of vast economic resources, and they can easily manipulate the dynamics of any market. So technically, small businesses lose the fight way before the match starts.
• Exploitation of Workers: Developing nations usually have a lot of labor pool. Multinationals also prefer those countries that can provide them with excessive workers. However, some corporations exploit labor through unjust overtime, lower pay, and inhumane working conditions.

Moreover, domestic workers are left with no opportunities as companies move abroad. In addition, many people cannot opt for other skills due to a lack of time and resources.

• Media and Misinformation: Globalization, despite having multiple advantages, poses grave threats to the world. The spread of misinformation through social media is one of them.

It is becoming increasingly difficult to filter out the truth from a lie. Fake news can spread like wildfire, plummeting stock markets, trembling economies, and, starting wars.

On platforms like Facebook and Twitter, where you can share or repost anything in the blink of an eye, verification of such news is nearly impossible.

Conclusion: Without a doubt, globalization has benefitted the human race. Globalization is no short of a miracle for the disconnected world; however, a catastrophe is brewing if the world fails to minimize its disadvantages.