Is Globalization Good or Bad?

With globalization just coming in and sweeping the world up like that, there has not even been the time to ponder on the issue; is globalization good or bad for the world? It has been running more on the terms of - It came. It saw. It conquered. No one really had the time to stop and think what was happening. At least that's what I think. So is globalization a good thing or bad? Let's try to get some clarity.

To understand a concept such as this one, I think the explanation of what globalization entails is in order. Globalization is the integration of economies, societies and cultures of varied worlds through the process of technology and trade. In simple words, the world is no longer divided into territories and foreign lands but feels more like a small village because it is possible to sit at one end of the world and know exactly what is going on at the other. It literally gives new definition to the term Small World. However, to fully understand the concept of globalization and whether it is good or bad, we must know its pros and cons.

Advantages of Globalization

There are many overt advantages of globalization that we can speak of:

Provides Wide Choices
Globalization is responsible for the wide range of choices that are available in the market today. If you think back to a time 15 years ago, you'll remember that foreign goods were a rarity and if they were at all available, they were extremely expensive. Fast forward to today and you'll see that the scene has completely changed. We see varieties and varieties of goods from groceries to beauty products to other consumer goods in all sections of the market and they've just made a home for themselves into our lives. So what this does is that it gives us a wide choice to make for ourselves.

Improves Quality
The secondary advantage of this same point is that because there is so much choice in the market, the competition increases. So to be in the running, producers and manufacturers of goods have to keep only the best quality products to survive. Which in turn ensures that the consumers get only the best quality products.

Boosts Economy
Globalization makes it possible to not only export and import goods, but it also allows for outsourcing services and jobs. Jobs in the information technology sector are especially outsourced as an important section of globalization. Many American companies set up branches in the Indian subcontinent because the labor is relatively cheap there as compared to their country. So that results in a direct increase in their net profits. And as for India, they get a sudden burst of jobs which is helpful for their economy.

Spreads Knowledge
Before globalization, like I said, it would not have been possible to know about other countries and their cultures. But due to important tools of globalization like the Internet, it is possible today to know what is happening in Ghana (for example), to know their culture, their food habits and so much more as well. And not just cultures, but even as far as education, world knowledge and current events are concerned, we now have a whole new world open for us. The world shares films, serials, books, recipes and so much more. All this is possible only due to globalization.

Promotes Progressive Thinking
Globalization is not merely limited to exchanging food, recipes, and the likes, but runs deeper in the way of bringing about a change in the attitudes and thoughts of people. It makes people tolerant of varied views from different parts of the world and thereby promotes progressive thinking. This, more than anything else helps to bring about social reforms in society. It also helps in the political field by making different governments aware of the varied ways in which governments are run.

These are some positive effects of globalization that we've discussed above. Now let's move on to some negative effects of globalization that will help show us that globalization isn't as rosy a picture as is painted.

Disadvantages of Globalization

The following are some bad effects of globalization that we have come to understand over the past years.

Promotes Commercialism Traits
If you look at the teens of today, of any country that is, you'll find that most of them will be in the same type of apparel, listening to the same kind of music, eating the same kind of food and frequenting the usual joints. All this is the result of globalization and there is nothing local anymore. When an idea runs like - so and so brands are the best brands, everyone buys them because they can. This results in the same types of lifestyles. It does not leave any room for local products.

Destroys Ethnic Cultures
With so much emphasis on being global, people are forgetting what is local. They are disregarding their culture, ethnicity, and local traits in preference for foreign practices. It won't be long before countries lose out on their cultures and heritage.

Affects Local Markets
When foreign goods flood the market and people begin to buy them, it is done at the cost of the local goods, especially in developing countries. For example small time businessmen who do not have the resources to export their goods and only depend on the locals to buy them, go through varied degrees of losses because their goods are not sold. If you ask a small time businessman whether globalization is good or bad for developing countries, he'll probably answer in the negative.

Wastage of Resources
To import and export products, a country makes use of its precious resources even when the product is manufactured in its own country. Instead, if that same money was utilized in improving the product we could promote business for our own country and save on resources.

'Is globalization good or bad' is a question that cannot be answered in black or white. There are several grays in between. It depends on each country and its government while enjoying the advantages of this phenomenon, to also draw up policies so that the ill effects of globalization do not affect them cause globalization is here to stay, not to simply go away.