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To What Extent Is Globalisation A Force For Good Class Essay

635 words - 3 pages

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To what extent is globalisation a force for good?
Globalisation is the rapid increase in cross border, economic, social, political and technological integration and interdependence be between economics’ through trade and financial transactions globalisation has put negative and positive effects on the world and different people have different views on it some feel that it's negative power overpower its positives and others feel the opposite . Globalisation is split into three different categories, economic, political and cultural.
Economic globalisation is the rapid increase in integration and interaction between economics’ through trade in goods and services and financial transactions. National economies have to some extent been absorbed into an interlocking global economy resulting in "deep integration" as territorial borders are transcended. Globalisation makes it possible to not only export and import goods, but it also allows for outsourcing services and jobs. Jobs in the information technology sector of especially outsourced as an important section of globalisation. Many American companies set up branches in the Indian subcontinent because the labour is relatively cheap there as compared to a sudden burst of jobs which is helpful for their economy. Economic globalization makes more free-trade opportunities, which puts everyone in the world on equal footing and makes countries where it is done attractive to foreign businesses. For example, this economic trend has allowed cheap clothing produced in South-East Asia to be sent to markets all over the UK. Generally, allows people to get items at cheaper prices than before. Economic globalisation is a great thing but it has its flaws such as countries become too interdependent with each other .When one country's economic system crashes, it will cause a huge impact to world. It will be like the Great Depression all over again, but this time it will happen to the world not just America. Economic globalisation can benefit and harm us at the same time. However, it’s inevitable, and we...

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