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     Economic
globalization is the main theme of the modern world’s economic development. It
simply means that the world has become more integrated economically. This is an
inevitable historical trend. Globalization offers extensive opportunities for
every country in the world to develop economy, enrich their culture and so on. Despite
that, the trend of globalization is a “double-edged sword,” not only bring
opportunities to all the countries, while many countries are also facing tremendous
challenges. Personally, compared with strengths and weakness of economic
globalization, the strengths far outweigh the weakness. In other words, I think
economic globalization is good for humankind. In this essay, I will elaborate
the advantages and disadvantages of globalization in order to support my ideas.
For the advantages, I will mainly focus on three parts: economy, welfare and
democracy. As for the negative impacts, global epidemics, terrorism and gaps
between rich and poor driven by globalization.

     Globalization has contributed to economies
in numerous beneficial ways: free trade and economic growth. Globalization
implicates that the entire world is one prodigious market, Dinescu (2017)
suggests, a chance for all countries to trade in those areas in which they are
more efficient than before. People who live in their own country have the
access to purchase overseas products. What’s more, countries can develop their
economy in a more effective way. Take China for example, china has already
developed economy rapidly in the past decades. Guthrie (2009) did the research
that China has had the fastest growing economy in the world in the past decades,
sustaining double-digit growth figures for much of the 1980s and 1990s and high
single-digit growth for the 2000s. High-speed of development demonstrates the
advantages globalization has brought to China. Besides, companies from
different background can optimize their division of labor by setting their
branch companies in different countries. In that way, every companies can do
their business more efficient and optimized. Guthrie (2009) mentioned that with
the country’s rapid economic growth in GDP and its explosive growth in foreign
trade, china’s business organization have experienced dramatic changes. The
nation’s economic architects aspired to force rational economic actions and
organizational structures onto the development agenda of business organizations
through initiating several waves of enterprise reforms at different time
periods. Moreover, globalization also provide an aggressive competition for
those companies. Therefore, companies from different backgrounds will cooperate
with others in order to develop themselves. For example, developed companies
can cooperate with developing countries. Developed countries’ companies can
provide them with high-tech facilities while they can get cheap labor from
developing countries.

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Higher standards of life and welfare can
also be provided by globalization. As lives in the past, the welfare system was
not established in many countries before, even if it had the system, it is not
as complete as recent. By the process of globalization, the welfare system can
be improved by learning from other countries. For example, Austria’s welfare level
was low at family-oriented public services, such as childcare and homecare,
that facilitate the integration of women into the labor force—a major
characteristic of the social democratic model. (Navarro , Schmitt &
Astudillo, 2004) However, the welfare of Australia today has been much
improved. Besides, China is another example of how the welfare system can be
improved. According to Boucekkine & Huang (2016), in China’s urban area,
the economics and social welfare of the population had tremendously improved by
the beginning of the 2000s. Absolutely, China is not the only country benefits
from it. One fact of globalization: the better intensity of competition and the
globalization of labor markets which allows for low-cost labor to be integrated
into global production processes– undeniably provides advantages to most
segments of society through lower prices for imported goods and greater
competitive pressures on domestic production. (Peter ,2008) Millions of
people have left poverty and misery behind in the past 30 years. More and more
people can have better choices than before while also have the access to have a
better education, health care, etc.

One more important characteristic has to
be mentioned about globalization is democracy. This democracy is not only for
the countries but for individuals as well. As Neumayer & Soysa pointed out
(as cited in Upadhyay & Singh, 2016), globalization promotes economic
development if women can flourish and improve their full potential freely,
there would be more responsible managers of households than men in many
countries it empowers them. Gobalization is a way to fight for their democracy.
Indeed, those minorities are better protected than before. They have access to
get a better job other than just household wife. Moreover, International Norms
of Democracy has been also established. Those democratic principles are now reshaping
regional institutions. The European Union, originally an economic community,
now requires democratic government as a precondition for membership and
promotes democracy in its collective foreign policy. The Organization of
American States, an ambassadorial seminar for both democratic and nondemocratic
governments, works actively to reinstitute democracy when it is vulnerable in those
member states. The Organization of African Unity, which is a traditional
diplomatic group, is trying to build a regional human rights code modeled after
the Helsinki process in Europe (Dalpino, 2001). To certain extent,
globalization promotes democracy effectively and efficiently, democracy has
covered the world on a larger scale than before.

The fact that negative effects have also
derived from globalization cannot be denied, especially three main concerns:
global epidemics, terrorism and the gap between rich and poor. One certain
epidemics can spread widely by global efforts that may occur to global epidemic
eventually. This has already been evidenced in the birds’ flu disease before
which has infected most Asian countries over a short period of time. According
to WHO (2017), in 1997, human infections with A(H5N1) virus were first reported
in poultry in Hong Kong SAR, China. Since 2003, this avian virus has already
spread from Asia to Europe and Africa, and has become endemic in poultry
populations in some countries. Terrorism is another threat towards
globalization. Demir & Varl?k (2015) mentioned, after the terrorist attack
of September 11, 2001, terrorism turned into ‘global terrorism’ and emerged as
a new form of threat for both national and international security. The news of
terrorism can soon be spread by media, even people in the different areas of
the world start to have a fear of getting attacked. What’s more, some regions, such as parts of Africa are not
benefited as much from global trade. A number of factors can account for
this phenomenon. In some countries in Africa, there are so many factors
that work against trade. Pavcnik (2009) pointed out, the reasons why many
companies don’t go into some of those countries is lack of political and
economic stability. In that case the risks of doing business are much higher. For
those countries, the challenges they are facing are much more than the chance
for them. There are still many things need to be improved in order to deal with
many issues occurred by globalization. Anti-globalizers’ central claim (Bardhan,
2006) is that the gap between poor and rich has been widened as the rich richer
and the poor poorer. But if one looks at the factual evidence, the issue is quite
more complicated. On the basis of household survey data which collected by
different agencies, the World Bank estimates the fraction of the population in
developing countries that falls below the 1-a-day poverty line.

Putting everything into consideration,
although globalization has its disadvantages, there are still many things
people get benefits from globalization. Many countries are more developed than
before, the economy growth increased rapidly. People’s lives are much better,
the welfare and human rights are also well protected. The most parts of world have
become more democratic than before. The drawbacks of globalization cannot be
avoided though, there are urgent needs for all the human beings to minimize the
threats and improve globalization into a better way.

 

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