Answers To The Question: What is Globalization?
GLOBALIZATION – In this article we will learn about what globalization is and its implications in our modern world.
Globalization could be defined as how countries across the world are more connected to one another. This is because of the advances in technology, trade, and economics.
The advancement of technologies such as phones, planes, and the internet, allowed further growth of transportation and communication. Which meant that information and goods travel faster.
For example, companies used to manufacture products in their home countries. Let’s have “TV Pro” and “Happy TV” which reside in “Country A” in this scenario.
Both TV Pro and Happy TV have the same product. They also pay employees the same salary, have the same production cost, and same prices for their products.
However, because of advances in technology and development in economics, other countries are enabled to sell their products in Country A. This is due to Globalization.
That is why “country B” could now penetrate the the TV market in Country A. Country B could now sell their products at a lower cost because they were produced for less.
Because of this, TV PRO and Happy TV now face a new outside competitor in the market. This competition then forces the local companies to react in order to stay relevant in the market.
Through this, the world grows closer together as competition and new methods of production arises. This also causes more affordable products for more people.
According to the explainity channel on YouTube, economic goods and products aren’t the only things being exchanged. Knowledge, and cultural goods and even languages get exchanged as well.
But, due to Globalization and the extreme exchange of goods, there are some major draw backs. Often times, people and the environment suffer.
Lets say a company moved production to an economically disadvantaged country. In this scenario the people from the industrialized country lose their jobs while opportunities open up to locals in the disadvantaged country.
Often times, the majority of people from economically disadvantaged countries work for very little. Due to this, they could make barely enough for ends meet without much benefits.
The environment also takes a hit due to globalization. This is because the demand for transportation has exponentially increased as well.
As transportation of products grows, the emissions of Co2 also increases. Which contributes to the factors affecting global warming.
In summary, Globalization has both positive and negative effects. It now depends on how people deal with all the possibilities globalization brings in the near future.
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