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Globalization increases interaction to different regions, countries and parts of the globe
making the world smaller and friendlier than the era before. It helps with advancements, lowers
down high and tall barriers and helps people meet new things and different stuffs, and also
experience different culture. The first article that I have read was about the pros and cons of
globalization on the economy. One of the good parts of it are; development and acceleration of
development process or welfare improvement, technological advancement (which helped us people
make contact with are love ones from a far and of course interact with people of different race),
knowledge dissemination (it actually brought awareness and consciousness to people with regards to
what is happening around us and how our own countries has been ruled and also know our economic
status or health), and lastly is that it helped accelerate the capacity to generate wealth beyond belief.
Having to lower the barriers and being able to do trade with other countries helped those wise
players in the economy be able to gain so much. But having all these bright side always casts dark
shadows. The cons listed on this first article are; Rising socio-economic insecurity (mainly due to the
rapid transitionary period currently underway), Financial economic market instability ( there is huge
socio-economic and human costs across the globe), Political and ideological tensions (there is
intensity in the tension emanating from the undesirable manifestations of the evolving global order),
and mismatch between the economic and financial system (due to so much difference between
cultures of different regions, countries or states, it caused conflicts in term of governing the global
economic and financial system). The second article that I have read is about the sense of
globalization and it’s effect on the standards of living. We can never deny the major effect that
globalization has brought to us especially when it comes to expansion of trade and investment. It is
very evident that there is a decrease on the poverty rate on the places where there is expanding trade
and investment. It is true that globalization opened up a lot of job opportunities and be able to meet
different people of superb talents but we can never ignore that globalization will also result in
inequalities and insecurity about the Jobs. It will make changes in the employment structure and the
possibility of the labor demand to fall is also eminent. Another effect of globalization is its effect on
the Industrial sector; the production of foreign commodities to also facilitate the consumers in all
over the world. Globalization also got the world into getting an identical culture that is understood by
every nation, we may call it intermixing of the cultures. I find it really nice since it helps different races
to feel less conscious about their own cultures and it also helps everyone open up and be able to
understand more on the way other races acts which makes the world and it’s people friendlier than
ever before. When it comes to the environmental effects of globalization, we were able to study more
about what our environment needs in order to cope up and of course spread these important
information throughout the world and help each other save what scarce resources we have left. Since
advancements are an unavoidable necessity for the Economic Development, some of the
advancements may have caused real damage to the environment but globalization helped in being
more meticulous and careful in order to reduce these damages and find better alternatives.
