The Challenges And Advantages And Disadvantages Of Economic Globalization

It is rather obvious that living in a social environment should be considered to be an irreplaceable prerequisite for the development of the inner potential of a human being. Indeed, by far the majority of the abilities which are considered to be characteristic to the mankind could have developed primarily due to coexistence of people. For example, the very ability of generating verbal interaction was conditioned by the necessity to coordinate actions to hunt a game. Nevertheless, one should also point out that just like people experienced personal growth, the society in general also evolved. That is why it would not be a mistake to note the two parallel evolutions; however, while the former is considered to have stopped, the latter one which …show more content…
This paper will argue that the process of economic globalization should continue and base this claim on a careful examination of different factors such as peculiarities of modern trade, the current state of global finances, the trends in migration, the opportunities of development; the paper will also present an objective account of advantages and disadvantages of economic globalization, analyzing it from the point of view of countries which are likely to benefit from it and of those the economies of which might be damaged by the above mentioned …show more content…
Thus, one would make no mistake that the contemporary economic world features one undisputable leader when it comes to exporting one’s good to other countries. Indeed, if one takes a look at the global interdependence of the countries, one will be able to see that the majority of states have deep economic connection with the partners from their region. Nevertheless, China is the country that has economic relationship with literary the entire world (Chenand and Yao 169). It is obvious that the goods which are manufactured in this country can be found on almost every market on the planet as they are cheap, of moderate quality and they pose a great alternative to other, more expensive competitors. Keeping this in mind, one might argue that in the future the global economic interdependence is likely to deepen as the major players of it, namely those how have greatest benefits will not be willing to lose their leading places and will try to ensure that economic globalization continues. In addition to that, one should also note that the above mentioned process has gained a significant momentum; so, even if the opponents of it will be willing to stop it, they are likely to experience a vacuum of goods of a particular niche, the one that was successfully filled up by the Chinese goods. One would make no mistake pointing that the processes that happen in the modern trade define the future of