Trade has been the driving force of the global economy and interaction of communities since ancient times. With the technological advancement and evolution of society, international commerce is heightened. Currently, one can order goods from abroad and receive them anywhere around the world. The connectiveness of the countries results from increased globalization, which very much raises controversy. Some view it as a setback, while others praise the phenomenom for reduced prices of commodities.
Globalization allows goods and services to be available to most people at low prices. The proponents of the concepts support it due to the affordability of commodities. Even people from impoverished nations have a chance to buy items. Additionally, internatiomal trade creates million of jobs, which lift people out of poverty. Globalization allows businesses to invest in the capital-scarce nations leading to the creation of employment for the locals. Typically, the developing countries that arer rich with labor gain from the concept.
On the contrary, the freedom of conducting business comes with various setbacks. For instance, in developed nations like ours, the United States, us as citizens experience competition for jobs, especially in the manufacturing industry. Citizens from developing countries offer cheap labor, andany usiness tends to chose less expensive services to maximize profits. Similarly, the developing countries go through stiff competition from more DEVELOPED countries thta produce more affordable goods. Most people tend tobuy foreign items leading to loses for thedomesatic producers.
Overall, the advantages of globalization outweigh the disadvantages. Eventhough there is still a significant economic disparity among countries, the concept has enhanced the rapid developments of the impoverished nations by creating jobs and adding goods and services.