Even though globalization affects the world's economics in a very positive way, its negativeside should not be forgotten. Discuss.
One question that has caused a great deal of argument over the years is globalization. No one can deny the fact that making the worldwide influence the world of economics affectively. However, as the coin always has two sides, there are negatives effects as well.
It seems to me that, while many companies build advanced factories in low-wage countries, according to globalization, the final price of produces will become cheaper in those countries. As a result, many employees may lose their comparative advantage, since the markets would be full of imported products. Also many people might lose their job and the salaries could decrease in developed countries, while their factories do not have the same value as before.
On the other hand, we must acknowledge that the economics inflation will be fallen and prices of both unique and advanced products cannot be raised by their owners. Regarding this theme, and improving the level of facilities and products in most of the countries, standards and the level of living will rise as well. For example, people of a country, where its domestic produces have low quality or they costs very much, can afford their required stuff with a good standard. What is more, as another advantage, unemployment in none-developed countries will reduce.
In conclusion, I would say that, the positives effects of globalization on economics world seem to be much greater than its negative sides. Therefore, it is worth doing, but we also should keep looking for ways to solve its disadvantages.
One question that has caused a great deal of argument over the years is globalization. No one can deny the fact that making the worldwide influence the world of economics affectively. However, as the coin always has two sides, there are negatives effects as well.
It seems to me that, while many companies build advanced factories in low-wage countries, according to globalization, the final price of produces will become cheaper in those countries. As a result, many employees may lose their comparative advantage, since the markets would be full of imported products. Also many people might lose their job and the salaries could decrease in developed countries, while their factories do not have the same value as before.
On the other hand, we must acknowledge that the economics inflation will be fallen and prices of both unique and advanced products cannot be raised by their owners. Regarding this theme, and improving the level of facilities and products in most of the countries, standards and the level of living will rise as well. For example, people of a country, where its domestic produces have low quality or they costs very much, can afford their required stuff with a good standard. What is more, as another advantage, unemployment in none-developed countries will reduce.
In conclusion, I would say that, the positives effects of globalization on economics world seem to be much greater than its negative sides. Therefore, it is worth doing, but we also should keep looking for ways to solve its disadvantages.
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