Globalization Has The Potential For Great Benefits Essay

Globalization is the spreading and expanding of goods, technology, people, knowledge and ideas throughout the world. It promotes world-wide connectedness and encourages nations and corporations to work together to benefit each other. Globalization is a relatively new term, but the practice has been around for centuries. The trading of goods occurred in the Ancient World throughout Central Asia, the Middle East and Europe, but certainly not at the speed seen today. The term has gained popularity in recent years due to innovations and developments in technology and the internet making it much easier to interact and trade across the globe. Globalization today is said to be â€Å"farther, faster, cheaper, and deeper.† On the surface, when implemented appropriately, globalization has the potential for great benefits in making the world a better place, encouraging people to work and learn from each other, while solving problems such as unemployment and enhancing lives by pulling people out of poverty. However, as with many programs or processes, there are risks and downfalls of a theoretically virtuous strategy. Globalization opens up opportunities for a developing country to enter into the industrialized world by allowing a foreign corporation to open up a facility in their country. New jobs are created, bringing local people up and out of poverty. This is an opportunity which would have been nearly impossible to achieve independently. However, with the prospect for success,Show MoreRelatedGlobalization: The Route to Global Destruction Essay675 Words   |  3 Pages Globalization is a confusing concept. 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