Globalization can be either good or bad for society, as with most technology. It could increase trade between nations which due to volume would have the added benefit of lowering prices as companies compete for business. This will create more jobs, increase wages, and raise the productivity output of countries. On the other hand, it will make it more difficult for those such as those in the manufacturing sector in higher economy countries. Meaning that in lower economy countries, the cost of labor is lower which will entice countries to outsource jobs to them as the labor is far cheaper. Companies strive for efficiency and to maximize profit. As such there will always be winners and losers. Globalization can not be completely restrained. However, it can be controlled by introduction of certain taxes and tariffs alluring companies to maintain production for example, in country.
I am experiencing globalization firsthand in my current position in the navy. I travel to various nations monthly to inspect aircraft carriers giving me the opportunity to experience different places and cultures. This would not have been possible without the invention and globalization of the airplane. Airplane globalization has driven down costs to an affordable level and made it possible to travel to the other side of the planet in less than a day.
Globalization doesn’t necessarily destroy nations, but it definitely affects them. If companies are getting rich by creating wealth, then that is a good thing. However, if they are getting rich by shifting wealth, that is a bad thing. (Carden 2008) After discussing the advantages and disadvantages of globalization, there is more pros than cons in my opinion. There are some that suffer but I strongly believe the needs of the many, outweigh the needs of the few.
Gopinath, G. (Apr 2019). An economist explains the pros and cons of globalization. Retrieved from https://www.weforum.org/agenda/2019/04/an-economist-explains-the-pros-and-cons-of-globalization-b2f0f4ae76/ (Links to an external site.).
Carden, A. (Jul 2008). Does Globalization Destroy Culture? Retrieved from https://www.independent.org/news/article.asp?id=2258 (Links to an external site.).