The topic
of globalization is an important one. At one point people seemed to see only the benefits of
globalization, but there are also some weaknesses.
Here are some
benefits:
First, globalization offer a global marketplace. It also gives a
global workforce. These points are no small benefits. They can make production extremely
effective and at the same time maximize profits. From this perspective, globalization is
great.
Second, globalization creates networks of friendship. This can be a
deterrent when it comes to war and international conflicts. The reason for this is simple -
everyone stands to lose in a global meltdown.
There are some downsides as
well.
If most of the manufacturing is sent out (for example), then domestic
manufacturing goes down. This will entail the loss of jobs and in this economic climate, we need
more jobs.
Second, as the price of transportation grows, globalization
forces the greater consumption of oil, which is running out and can be very expensive. There is
something to be said about the need for local markets.
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