Pros and Cons of globalization

Pros and Cons of globalization:

Pros:

Since globalization is the movement and integration of goods and people among different countries, there is increase in communication because the way of communication technology has developed, and wide spread. For instance, by using Skype, people can communicate each other easily wherever they are.

Globalization also makes products of company to decrease, to make the price affordable to people. For instance, Nike factory is transferred to Bangladesh to use cheap labor force which would be cost efficient. Same with T-shirt companies, where they locate the factories to the countries like Indonesia to make the price lower and affordable for their own country's people.

"Shrinks the world". Through globalization, people were able to afford various products from other countries. For instance, everybody in the world would have tasted grape from Chile which is seedless and sweet. So people don't have to travel other countries, but enjoy the products of other countries from their own country.

Globalization also helps the country to earn money in specific direction, and what to do to increase the economy. For instance, the peripheral countries like Brazil exports bunch of raw materials like beef and coffee beans to semi peripheral and core countries, and semi peripheral and core countries process the coffee beans through coffee and sell them. Therefore, in peripheral country, farming is mostly the major way to earn money, some of farming and service for semi peripheral country, and mostly service for core countries.

Cons:

Globalization can be start of neo colonialism if fair trade is not used. For instance, peripheral countries must sell their raw materials to the core countries earn money. Which means that the core country has absolute control over the peripheral country's economy. For instance, farmers in Brazil barely earns money even though they sell raw materials to the foreign company. So rich companies gets richer, and poor people gets poorer.

Also, since there is more exports and imports from neighborhood countries, private business such as banana sellers can be affected if there is massive import of banana from foreign country where the price of banana will get down.