Globalization Benefits

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Globalisation benefits everyone
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Globalisation benefits everyone

Globalization is defined as “the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets”. (htt64) In both economical and cultural circumstances, people benefit from globalization, but to a certain extent. Globalization can help science, communication between people worldwide, free trade and better choice for consumers. Globalization however, leads to the disappearing of language, tradition, singular identity and tracks of people’s roots.

Economy benefits from globalization because of the easier ways to trade and assembling products. Globalization can help industries to find and develop resources, be more eco-friendly, learn how to be competitive, create more jobs and make the prices for consumers cheaper. This happens because if an industry needs to face the world market without being protected by trading barriers, it needs to be efficient and competitive in order to survive. Big industries become generally more eco-friendly in order to have a good reputation and be self-sufficient. An example could be the Ferrero enterprise that has the “goal of sourcing 100% sustainable cocoa by 2020 and to achieve independence” (httFe). The liberty of expanding big industries freely to other countries could though destroy small businesses that can’t face competition. Furthermore, it could bring to an increase of exploitation of resources and wars for them. If one’s industry is free to move to a place were non renewable resources are cheaper, every other multinational industry with its same necessity would do it. This would lead to scarcity and fight for energy. “Oil is especially valued. No one’s sure how much is left. America, China, Russia and other…...

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