Cause-and-Effect Essay on Globalization
Adverse Effects of Globalizations
In the twentieth century, Globalization has played a significant role in the economic, social, political, and cultural unification and expansion of the world. The advancement of technology, transport, and communication has shrunk the distances.
People belonging to different countries can easily interact with people living thousands of miles away. The increase in communication and interaction, among different regions of the world, has evolved the overall outlook of the world. Globalization has undoubtedly served the present world remarkably; however, its adverse effects cannot be neglected.
Globalization’s most important benefit is in the economic sector. Globalization shatters the geographical boundaries and allows people to expand their business beyond their territories. The advancement of technology and science has made across border expansion of businesses easier. As a result of this, different companies are keen to raise the quality of their goods, services, and overall living standard.
The present world has also witnessed the establishment of the foreign branches of many established companies of the developed world. These companies prefer to open their foreign operation branches in underdeveloped countries so that they could avail the advantage of the low cost of labor in these countries.
Apart from that, different companies are introducing factories in those countries where there is easy access to the raw material. By installing factories beyond the border, companies also introduce new technology and techniques in other countries.
The local of the countries, where an industry or firm has been introduced by the multinational company, get opportunities of jobs and learning new equipment and methods.