TOPIC: "Even though globalization affects the world economy in a very positive way, its negative side should not be forgetten. Discuss"
What positive and negative economic results of globalization are has attracted much social concern. Many people believe that globalization allows developing countries to be more wealthy. However, others oppose this statement by indicating increase of economic inequality between countries has been mainly created by globalization.
First and foremost, globalization is absolutely a great chance for poor countries to enrich their economies. Through globalization, foreign technology, capital of multinational companies flow to these nations in order to construct factories in which native workers work. Eventually, this resolves unemployment, giving more income to local people. Moreover, poor countries can absorb achievements of technology, new management policies to not only enhance their economic productivity, but also narrow the gap of development.
By the way of contrast, globalization also creates negative effects for developing countries. It is obvious that giant economic groups such as Apple, Microsoft, Samsung are capable of maximizing their profits because they cut off a lot of costs including tax, material and labor costs when investing overseas. Rich nations exhaust natural resources of poor nations, and pollute their environment. Therefore, developed countries would become more wealthy, while developing countries lack of essential conditions to rise. Undoubtedly, a world order settled mainly gives benefits to rich nations. This is really unfair situation which globalization bring to the international economy.
In conclusion, in spite of making unproven good effects for the world economy, globalization still damages global overall development especially development of poor countries. Its harmful effects maybe surpass its benefits.
What positive and negative economic results of globalization are has attracted much social concern. Many people believe that globalization allows developing countries to be more wealthy. However, others oppose this statement by indicating increase of economic inequality between countries has been mainly created by globalization.
First and foremost, globalization is absolutely a great chance for poor countries to enrich their economies. Through globalization, foreign technology, capital of multinational companies flow to these nations in order to construct factories in which native workers work. Eventually, this resolves unemployment, giving more income to local people. Moreover, poor countries can absorb achievements of technology, new management policies to not only enhance their economic productivity, but also narrow the gap of development.
By the way of contrast, globalization also creates negative effects for developing countries. It is obvious that giant economic groups such as Apple, Microsoft, Samsung are capable of maximizing their profits because they cut off a lot of costs including tax, material and labor costs when investing overseas. Rich nations exhaust natural resources of poor nations, and pollute their environment. Therefore, developed countries would become more wealthy, while developing countries lack of essential conditions to rise. Undoubtedly, a world order settled mainly gives benefits to rich nations. This is really unfair situation which globalization bring to the international economy.
In conclusion, in spite of making unproven good effects for the world economy, globalization still damages global overall development especially development of poor countries. Its harmful effects maybe surpass its benefits.