The Good And The Bad Side Of Globalization

829 Words 4 Pages
Globalization is a process by which different businesses develop an International influence. It’s a process of an interaction among people, the government and as well has companies from different nations, driven by an international trade and investment by information technology. In globalization, there are many key factors for example trade. Tarde is buying as well as selling goods and getting different goods back instead. For example, if Sweden doesn’t have any oil but they do have gold and the middle east do have loads of oil but do not have gold they “trade”. The middle east trades a certain amount of oil for a certain amount of gold. This is an example of trade. Globalization is huge but it does have pros and cons. Some pros are that …show more content…
Globalizations has 3 sides, The good side, the bad and the ugly side. The good side of globalization is about easy credit and rising leverage. The bad side is all about taking risks and uncertainties. For example, the bad side is also about deleverage as well as decline money flows across local and national boundaries. Even worse the ugly side of globalization is when nations (communities) try to escape the income and employment declines through simultaneous currency devaluations. In the last quarter of this century we have witnessed the good side of globalization and in the last 4 decades we have seen the bad. We still yet to see the ugly side. According to me globalization has different impacts on the world whether it be good bad or even ugly. Globalization to me isn’t good. It causes to many problems like mentioned. It does have benefits but it also has a lot of drawbacks as mentioned. The also use up finite resources very quickly, they increase world carbon dioxide emissions, they increase world oil prices etc. Yes, they reduce poverty as well as build stronger trade ties and dependencies between nation but they aren’t making life that easy for people. This ruins local economies as can lead to hyper-specialization which can be good as well as a negative (mainly -) To me, if globalization sticks around they should be more advanced and get rid of their disadvantages and …show more content…
Free trade is a contact formed between two or more nations/companies that allow unlimited import/export of goods and services. Not all countries have free trade agreements for example: Doha. There are many examples of free trade for example, India has the FTA (free trade agree Free trade is usually used that so that countries can trade easily from place to place freely without restrictions. Free trade is mainly used in the united states but they do not have free trade with different countries. Free trade works by having governments agree on different terms before engaging in an exchange of items. While the exchange can take place in many forms, the most common thing is that diplomats agreeing ahead of time and transport facilities carrying the goods. Free trade is very beneficial for different companies to accommodate to their situations depending on if they have enough to give, or if they will give extra, but however free trade can lead to governments and companies sing each other as there are no formal laws or legally abiding contacts/agreements in place. Some countries should be introduced to increase the advantages while reducing the disadvantages. What are the measures? If more countries were to have free trade agreements, the advantages would be amplified as well as the number of free trade agreements were increased, other countries/companies would see more of the advantages and

Related Documents