Positives And Disadvantages Of Globalization

Globalization’s definition can be considered as a process that occurs from communication and interdependence among all countries of the world, which markets, cultures, and societies are unified globally, through political, social, cultural and economic changes. The significance of this term for the International Monetary Fund (IMF), in summary, is that economic interdependence is increasing among all countries. This fact is caused by the increase in the variety and volume of transactions in goods and services, capital flows and rapid diffusion of technology. Globalization is not limited only to economic but a technological, social and cultural process on a large scale that has opened spaces for active integration or unification of countries or territories. The most relevant agents involve in the process are multinational banks and companies, governments, international financial institutions and influential technocrats.
Even though Globalization is a very important phenomenon there are some indicators of its development that need to be looked at.

Despite the increasing globalized world, not all countries have integrated the same way to the global economy. Some key indicators to measure the integration of the economy of any nation is exports and …show more content…
Yet globalization as any economic trend has its advantages and disadvantages. Because if it is true, opening the borders to endless growth opportunities also increases the likelihood of risks significantly. That is why it is considered a logical decision, that countries like Switzerland, whose economy is considered fairly stable, abstained from joining the European Union since, at the time of a crisis like the one that occurred in Spain or Greece it is impossible that there are no repercussions in other countries that have a partnership with