Even though globalization affects the world’s economics in a very positive way, its negative side shouldn’t be forgotten. Discuss.

Globalization is a phenomenon that has both positive and negative effects to the economics. Some people argue that, in today’s world some richest countries make a huge profit while other non-developed or developing ones suffer even more due to the globalization. So, what are the consequences of the globalization?

We must acknowledge that, as globalization allows countries have free international trade, which also means free access to another country, crimes as well as a number of maladies have better opportunity to be spread. Moreover, while devising trade plan country for their own benefit in a foreign country, richer countries do have much cheaper labor force compared within the territory of their own country which occurs through globalization. For example, people in developed countries are either reluctant for working daily, in particular where backbreaking labor are demanded, or claim much higher salary than the people of poor countries do.

Nevertheless, we cannot deny the positive effects of globalization. For instance, in today’s world studying abroad for free is one of the main consequences of globalization. In addition, people can be aware of new invention, as well as medicines which allow them to get familiar with them and globalization has undeniable role in it. As an example, we can show the invention of mobile phones. If globalization did not allow people to travel to different countries and bring mobile phones back we would not be aware of this invention.

In conclusion, I would like to reiterate that, although globalization has negative sides too, all in all it is one of the main factors of economical development.