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While people have set out to research on the origin of globalization, the results are debatable. All these factors sufficiently tell the reason as to why the world’s economy recognizes the impact of globalization of both China and India. These are among the many contributions that China is making in the global economic sector. In terms of exportations, China has globalization positive and negative effects become the largest in the world and as a result, it is thought to affect the world’s economy. ” China will rival the United States for the position of leading world power” (Hurst 91). Global trade and global economy have led to the establishment of global health policies, which on the other hand remain favored by the rising technology and the medical trade.

Successful businesses are for those who can find a competitive advantage and especially make high-quality products for a low price. This balance will require a comprehensive approach that addresses the various aspects of the globalized economy. In practice, many developing countries competing for foreign investors offered longer tax holidays, costly subsidies, and various incentives for multinationals. The competition among developing nations reduced positive net effects of globalization or, at best, delayed them.

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In addition to that, a close interaction between different nations makes people forget some of their traditions and values, which can have a detrimental effect on maintaining cultural heritage. Finally, some natural products may be dangerous to non-native ecosystems, which could affect the safety of both people and the environment (Ritzer, 2011). People could not learn the subject of globalization the easy way until the outbreak of the World War I and II in the twentieth century.

Since it ranks highest among the world powers, it has grown politically because of globalization. The debate of globalization still rages with critics and proponents alike failing to reach a consensus on its benefits and detriments. This follows the prevailing differences pictured by people in their attempt to provide the real meaning of globalization. Therefore, globalization is a significant phenomenon of the modern world that needs to be thoroughly explored to enjoy its positive aspects and counteract its adverse effects. Globalization has facilitated the spread of new technologies and knowledge across borders, allowing countries to learn from one another and adopt best practices.

Globalization: Positive and Negative Effects Essay

Manufacturers are introducing new models of these consumer electronic devices even though the average product lifespan of a single smartphone is three to five years. The favorable growth of companies such as Apple, Samsung, Huawei, and Xiaomi demonstrates the hyperconsumption of smartphones. Another example of overspecialization is the extraction of fossil fuels in oil-rich countries and the subsequent overdependence of the world on hydrocarbons as a source of energy.

• In a nutshell, it describes the interaction and interconnection of people, governments, and companies around the world.
• The agreement covers financing, adaptation, and climate change mitigation strategies.
• Then people reconsidered their authentic rules and customs regarding their culture as primitive.
• To help prove my point that all change is not good, I will of course focus on the negative impacts.
• Others point back thousands of years to the founding of the Silk Road.

Unfortunately, such an option is available only for those people in developed countries as usual defaults of economies in third-world states make it insecure. People are afraid to invest their earnings because they can not predict whether their national currency will be equivalent to the US dollar next year. Others spend it by establishing firms and industries in foreign countries where they gain profits.

Legal Effects

The world that we live in today is a result of several cultures coming together. People of one culture, if receptive, tend to see the flaws in their culture and pick up the culture which is more correct or in tune with the times. Societies have become larger as they have welcomed people of other civilizations and backgrounds and created a whole new culture of their own. Cooking styles, languages and customs have spread all due to globalization. The same can be said about movies, musical styles and other art forms.

In addition, the availability of information makes political-type decisions more transparent. Globalisation also ensures that smaller developing countries can unite and work together for their better good. Furthermore, increased interdependency encourages there to be peace and can reduce the risk of invasions.

Diversification of Industries:

In this way, human beings become more open to one another; they seem to be ready to accept changes, and consider opposite points of view. It is also beneficial that countries have an opportunity to use innovative technologies developed by one another so that they do not need to face the strain of their creation over and over. Many nations deal with the same crucial issues, and find difficulty in trying to overcome them. Globalization enables them to cooperate and achieve common goals faster. In conclusion, globalization viewed as the integration of economies, cultures, as well as societies, has been achieved following the worldwide political and communication connections.

• People can also be employed and work remotely without the hustle of traveling and settling in a foreign state.
• Other business organizations have pronounced environmental advocacies and participated in numerous initiatives aimed at addressing environmental issues around the world.
• It stands as another form of globalization in which a significant world economy was established.
• Average tariff rates continue to be high in many developing countries, including some that have recently implemented trade reforms.
• Goods are currently travelling to further places, causing an increase in fuel consumption and, thereby, GHG emissions for that travel.

In the 1990s, the U.S. placed a 127% tariff on Chinese paper clips. I am a mother of a lovely kid, and an avid fan technology, computing and management related topics. I hold a degree in MBA from well known management college in India. After completing my post graduation I thought to start a website where I can share management related concepts with rest of the people.

Globalization is a blame to world’s unemployment situation though it brought some jobs opportunities. Despite the fact that it brought jobs opportunities to the global but it is still a blame to the current situation. Foreign investment is always welcomed as it provides resources, capital and technology to a country that will support economic development of the host country. Increases exports to a country and thereby improves the current account and therefore will help to the repayment of foreign debt. This however has some criticisms for leading to too much foreign control (Kaitilia V and Kotilainen M., 2002).