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Is Globalization good or bad? Here is our verdict

By Evans Feb 08 2021

The world is becoming a global village. This concept is brought about by the most significant phenomenon of all time; globalization. It is best defined as the process through which the world becomes integrated into one system. Many forces come into play so that this phenomenon is achieved. Time and space have been shrunk; distances compressed. The seven continents are almost becoming one. All thanks to globalization. Worldwide, union and ties have been forged by players who are miles away. Love has brewed between entities in countries and continents apart. Glory to globalization. In this article we explore the concept of globalization and answer the question “Is globalization good or bad?”

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Why Globalization is Good

So, what are the pros and cons of globalization, lets begin with the good before looking at the bad. Shall we?

Access to new business vistas

Formally, there existed continental segregation. Countries and continents were closed up. The world of business was only to be done within a specified jurisdiction. When the forces of globalization came setting in, the sun began rotating, and the moon started making revolutions. It was not business as usual. The new dimension of the corporate world was open—new ways of doing things set in. One of the pros of gglobalization is that it cracked the world open. The worlds apart were brought within reach. Businesses began to reach out to other businesses and form corporations. Other businesses began to diversify to suit the needs of their worldwide clients. Globalization set the world on a revolution like never before.

You might also like: Effects of Globalization on business

The proliferation of Innovation and Technology

The old is gone; the new has come. This statement is the best descriptive statement for the rollout globalization brought. New pages started fluffing. New ways of doing things began flowing innovation from every corner of the world. Every single news channel had at least two pieces of news invention. Social media kicked in, and the prowess of writing letters to pen pals began to fade away very fast. From the steam train to the bullet superspeed trains. The Internet came like a tsunami leaving no part of the world untouched and unmarked. The parts of the world that were viewed as darkened, sunrise engulfed them, and now they could see. The dark faded away, and now the better part of the world is all lit up and enlightened thanks to globalization.

Cultural Exchange

Globalization is good and not bad because it has facilitated cultural exchange makes us a unified tribe of one. With the ancient gates lifted and the world wide open, there developed access to different people's ways of life. In olden times people believed their culture was superior to other cultures, and there was little regard for what others were doing their things. People thought that cultural practices such as food, clothing, ceremonies, and the general way of life were better than others. When globalization set in, people began to be enlightened, and they could see some other cultures were better, and the room to appreciate other different cultures were put in place. Additionally, in appreciating cultures, it was overdone to the extent that they abandoned their cultures and adopted others. Some of the cultural practices outgrown, and others set in place for the outgrown ones. Cultural diversification has become a phenomenon that is living since the setting in of globalization. The above is the goodness of globalization.

New Markets Access

 People are the market. The fewer people you can access, the small the need is for your product, and vice versa is true. Globalization opened the world, making the people over the whole world prospect market for whatever products you produce. Countries have begun to monitor other countries' cultures, and custom-make products can be produced locally and internationally consumed. Social media was tailor-made to fit in all cultures worldwide, and for this reason, it has become the commodity that almost 70% of the world is consuming. Terms like exports and imports came to being because of globalization.

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Is globalization bad?

Nothing exists and bears no flaws, so does globalization. It carries with it some of the negatives. Some of the negatives are cultural erosion, negative use of technology, technological crimes, theft, societal degradation, unequal distribution of resources, expatriates and the spread of harmful ideologies. All these negatives affect you directly or indirectly. However, the pros of globalization are even far much weightier than the negatives.

So, is globalization good or bad?

After looking at the pros and cons of globalization, here is our verdict.

Globalization is a worldwide process that has brought with it a lot of good. It came bearing good tidings to anyone who embraced it and took advantage of the same. It holds a lot of good in it. Although nothing lacks a downside, in globalization, the good outweighs the bad. Therefore, the answer to the question ‘Is globalization good or bad’ is that globalization is good

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