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Globalization pulls the countries out, from their detachment into the competitive world. A journey towards new collaborations and unity, it has changed the world into a global village. Both distance and isolation have been terrifically reduced.
Globalization integrates trade, technology, investments, and the mobile factors of production like labor and capital. All types of goods ranging from Coca-Cola, Sprite, Louis Philippe shirts, Marie Claire bags, Police sunglasses, to Adidas and Nike shoes are all available in every market globally, all credit to globalization.
Globalization has been quite a debatable subject. While some are of the opinion that it has a lot of ill-effects upon the society, there exists others who feel exactly the opposite. Some opine that it has made life extremely easier and comfortable. It has however affected the consumers and businesses differently. For a better picture, let us take a look at some of the advantages and disadvantages of globalization.
Advantages of Globalization:
❖ Employment
❖ Education
❖ Product Quality
❖ Cheaper Prices
❖ Free Movement of Capital
❖ Communication
❖ Transportation
❖ International Trade
❖ GDP Increase

Disadvantages of Globalization :
❖ Health Issues
❖ Loss of Culture
❖ Uneven Wealth Distribution
❖ Environment Degradation
❖ Disparity
❖ Cut-throat Competition
❖ Conflicts
❖ Monopoly

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