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More than ever, globalization and international travel affects universities and companies. What are the benefits and problems caused by either globalization or internationalization? How has it affected your job, your school, or your home town?
Globalisation is defined as "the development of closer economic, cultural, and political relations among all the countries of the world as a result of travel and communication becoming easy."
Globalization was seen as a strategy to fix the gap between the rich countries and poor countries. But it has made the rich richer while making the non-rich poorer.
Globalization was seen as a strategy to fix the gap between the rich countries and poor countries. But it has made the rich richer while making the non-rich poorer.
In Economics, it is said that Globalization represents free trade which promotes global economic growth. Free trade is supposed to reduce barriers such as Tariffs, Taxes and etc. Globalization is a fact now, but we can't say the same about free trade.
Hypothetically, Globalization makes companies more competitive and lower prices for consumers. Thus, globalization is supposed to reduce the prices down. Nevertheless, there might be a single supplier in the market, which is known as Monopoly in Economics. As it is well-known, monopolies are able to charge a higher price than in a more competitive market.
Some says that Democracy and Globalization should go hand in hand. That's true, but not because they care about the citizens of the country. No investor invests in a country which is politically unstable where they may lose their property rights.
Hypothetically, Globalization makes companies more competitive and lower prices for consumers. Thus, globalization is supposed to reduce the prices down. Nevertheless, there might be a single supplier in the market, which is known as Monopoly in Economics. As it is well-known, monopolies are able to charge a higher price than in a more competitive market.
Some says that Democracy and Globalization should go hand in hand. That's true, but not because they care about the citizens of the country. No investor invests in a country which is politically unstable where they may lose their property rights.
Globalization has given the countries to do Custom Unions which allows a regional free trade which promotes economic growth. NAFTA and the EU are the best-known examples.
Theoretically, labours can move from one country to another. But in reality, it's not that easy. Qualified labours are always welcomed, but unskilled labours cause some problems. Besides, this can cause a downward pressure on wages.
In the light of all the facts mentioned above, it can be said Globalization has pros and cons in the Economic framework. But the phenomenon should be discussed in more detail.
Most people see the internet as a benefit of Globalization. In the past, for those who couldn't afford to travel abroad, the only way to learn about other cultures was to read. Travelling is a much better way to learn than reading a book. Moreover, Globalization enables to cultural integration. Even those who can't afford to travel can learn lots of things on the internet.
Furthermore, online courses are becoming more popular. One can enrol a course from the World's one of the most known schools. The internet is the best, only if you know how to use it. The limit is the sky, if you use it in a good way.
Also, with the Globalization, the production process has changed. Even the required qualifications for labours have changed. Remember the motto of the present-days, "education for a lifetime". Unskilled labours will be out of the employment field. If not today, it will be tomorrow. Under these circumstances, Globalization has some benefits for improving yourself.
What do you think?
Emel
November 2018
References
https://www.forbes.com/sites/mikecollins/2015/05/06/the-pros-and-cons-of-globalization/#1eebda04ccce