Globalization is a way in which the society gets an opportunity to integrated with the global economy. There are many countries that have certain products and goods in abundance. Likewise, there are countries that are in need of these products and services.
Globalization is a way through which the abundant production can be shared with the scarce countries. Technology is driving the economy. Globalization allows the exchange of technologies amongst the countries, making society a better place. The business and trade are flourishing due to globalization. The following is the impact of globalization on the society!
|Impact Of Globalization On The Society|
Positive impact of globalization on the society:
More efficient markets:
The economical exchange allows the market to grow. It is just not the growth of a single economy, but several economies. There are several sectors that have boomed due to the impact of globalization. It has initiated a smooth process of imports and exports across the globe, making the products accessible to everyone.
The economies are measured in terms of the wealth that they generate. There are developed countries, the developing countries and the under-developing countries that the economy comprises off. And wealth is one major factor to decide the categories of the countries. Globalization has created opportunities like job creation, infrastructure improvement, technology exchange and so on. These all are the ways to create wealth. Wealth once created, can be channelized into various sectors and can be multiplied.
Solutions to problems:
There are many global organizations that calls for a summit to discuss problems related to the economy. The issues like nuclear energy, environmental problems, agriculture related problems and so on are put forward in front of the members of the countries. The discussion takes place and various solutions are put forth. The best solution is been taken and implemented. Likewise, many such problems are been sorted out.
Negative impact of globalization on the society:
When there is a competition, there can only be one winner. There are companies that shuts down due to the impact of globalization. There are countries that have to lose the deal because the solution provided by some other country is better. Hence, the best one wins.
There is high consumption of energy due to globalization. The demands of the industry increases due to the power of globalization. Global warming has become a major issue and the entire planet is facing the heat of it.
Whether we accept or deny it, globalization has a huge impact on the society. It has benefited the economy on a large scale and will continue to do so. However, most of the countries haven’t reaped the advantage of it on a larger scale. Thus, one needs to have resources to participate in the world affairs and be a part of globalization.
Do let me know your opinion about the impact of globalization on the society.
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