GlobalizationStudent’s nameInstitutionDateGlobalizationIntroduction Globalization is a way of coming up with world’s market economy whereby many countries are able to interact and compete internationally, as well as interacting in other areas such as sports and games, technology and political aspects. In the past years, most people have understood globalization to be of benefits to the development of the economy. It has enabled countries to interact with others in terms of production, trading and financial transactions all over the world, therefore, bring many countries together. Globalization has impacted these countries differently and it has brought in both benefits and also disadvantages to countries in the world. This essay will discuss the factors which contribute to globalization and its impact on both positive and negative impacts.
The successfulness of globalization has been brought into place by a number of factors and the ability to communicate effectively has been the major contributing factor. With high growing technology in communication, the charges involved in communication process has been reduced facilitating communication all over the world. Transport networks and immigration links have also played a major role in achieving globalization. Additionally, other factors such as the international flow of income and foreign investment have majorly contributed to globalization. Globalization has come in with both positive and negative impacts when contributing to development in the world and the most affected is the environment. There has been an increased use of different commodities which have come in with globalization thus rising production of such commodities to cater to the global market, therefore, impacting ecology cycle.
Transport of final products and unprocessed materials within the world has increased due to globalization leading to environmental pollution as the vessels used for transport produce harmful gases. This has led to greenhouse effect which influences climate negatively. Globalization has also increased the rate of industrialization in the world.
Some waste products from these industries are dangerous to live organisms and even soils. These industries re-direct their waste products to the water bodies which in turn cause deaths in aquatic organisms. Countries have enjoyed a lot of benefits as a result of globalization.
Globalization has enabled countries to increase their economic growth rate by increasing their productivity, improved resource allocation, raised labor productivity, and reduced capital ratio. People have been able to move and also transport their good and services from their countries to other countries as result of globalization as it has led to improved and reliable transport network across the world. Globalization through global mass media has united and connected people all over the world together. Though increased technology such as telephones and internet across the world, people from different parts of the world have been connected together. Another benefit which has emerged as a result of globalization is that of increased awareness on the consumption of resources and environmental degradation.
This has resulted in the nations joining together and coming up with technologies which are harmless to the environment.Conclusion In conclusion, countries all over the world have been able to operate as a global village due to the various factors which have connected all the countries together and simplified their operations.ReferencesCox, K. R. (Ed.).
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