Advantages and Disadvantages of Globalization

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Advantages and Disadvantages of Globalization
Globalization has changed how people live, associate with one another, and carry out considerable life projects. According to The Namesake, globalization has significant disadvantages, such as increased competition, imbalanced trade, and resource exploitation. The Namesake depicts the challenges people go through due to globalization when they become immigrants. Are there more advantages or disadvantages of globalization? In The Namesake, there is the story of Gogol, a member of an Indian family who goes to school in New York and gets distanced from his family. Such seems a disadvantage of globalization because it leads to the breakage of bonds due to varying preferences that make people travel to different parts of the world in search of better lives. Even having to relocate to far-away locations is a challenge since there are irregular developments in different parts of the world. However, the main argument in this essay is that globalization is advantageous because it presents various significant advantages, such as improved economic growth, increased knowledge and technology growth, and open access to new markets. The article, “The Church of Please and Thank You” by Traves presents an opinion that globalization is advantageous and enhances appreciation for cultural diversification.
Despite other issues, such as the increased human population and high living costs, globalization has been able to cater to the increased human needs by providing sufficient advantages. There has been a diverse development of technology in all sectors due to constant innovations. Such improvements have enhanced growth in other industries due to improved efficiency, promoting the continuous quality of products and services. Information and technology form the basis for knowledge dissemination in various sectors and fields. Therefore, improved globalization has effectively promoted the sharing of ideas among people from different backgrounds. The attempts to solve the challenges affecting these people have led to developments in technology and infrastructure. That way, sharing information about relevant human structures and institutions has been easy and convenient. According to Nittle, globalization enhances countries and other entities to gain foreign knowledge and appreciation. “Instead of cultural misappropriation, it is an instance of cultural appreciation in keeping with the norms of the community, or what our grandparents might have called social etiquette” (Nittle). For instance, security organs in different countries can gather international information to enable them to achieve their agenda of combating terrorism and improving security.
The interaction that occurs on a global level offers business opportunities to develop and penetrate new markets. The increased interaction promotes the need for people to explore and appreciate diversity. In so doing, they promote businesses, and there is efficiency in exchanging goods and services through formal trade. In this regard, globalization has enhanced the use of common currencies in various regions, which form bases for easy transactions and convenience in busine...