Summary

Globalization has several benefits and drawbacks that affect different countries. Some countries are embracing globalization as they believe that it will bring about many benefits, while some are pessimistic about the negative impacts. In this essay, the positive development of economic growth and several drawbacks, namely the impact on economy, social, environment, cultures and integration will be discussed. 

Firstly, globalization has led to economic development around the world and one key component is international trades. It has helped to boost the economic growth in several developing countries such as Africa, where over 80% of the Africans surveyed have agreed that trade has a impacted their country positively. Furthermore, international trades have also provided a cheap variety of products to the consumers in the developed countries. Besides international trades, multinational corporations are also welcomed, especially in poorer nations around the world. However, for the wealthy nations such as America, surveys have shown that more and more Americans believe that trade is not exactly good. Therefore, globalization has mostly influenced the poorer countries positively as it helps them to develop economically.  

Besides economic impact of globalization, many developed countries are increasingly worried about the negative social impact. The economic growth through globalization might not benefit everyone in the same way. In many countries such as China and Indonesia, the widening gap between the rich and the poor is becoming a critical issue. Many have urged the government to play a part and take care of the less fortunate ones in the society who are incapable of helping themselves. Hence, one of the drawbacks of globalization is such that some people might not benefit and would still be lacking behind others.

Furthermore, globalization has led to negative impact on the environment. Global warming is one of the negative results of globalization. Such environmental problems are increasing significantly and causing danger to the world. Many economically driven countries have also come together and show concern regarding this issue, stating that they are willing to sacrifice economic growth for a better environment. Therefore, most countries agree that saving the environment is a crucial issue and should be the priority.

Based on a survey done in 2007, many people are also worried that their culture and traditions would be lost due to the effects of globalization. The widespread of American culture and ideas, such as American movies and music, has led to the loss of many other cultures around the world. Hence, people are actively protecting their cultures against American’s influences.

Lastly, globalization has also led an increased in people moving across borders to different countries. People are leaving their own countries, primarily due to financial reasons, to look for better education and jobs that pay higher. This has caused immigration anxieties among the citizens as many believe that immigrants does not benefit their countries, and therefore want tighter restrictions on immigration. This has also caused many citizens to be unsatisfied and pessimistic about the countries’ future.

In conclusion, globalization has indeed impacted several developing countries positively in terms of their economy. However, there are also several drawbacks of globalization that can’t be ignored. Negative effects on social and environment are some of the important issues that the world needs to work on, if not, situations would go downhill. Therefore, depending on the country, globalization can have benefits and drawbacks.