Task2 - Ethics >> Globalization Costs & Benefits

"Globalization Costs & Benefits"

TASK 2 MODEL ANSWER

"The best way for poor countries to develop is through the process of globalization."

To what extent do you agree?

The process of globalization is currently being applied in the majority of countries throughout the world. This process involves international cooperation in many important areas. While some people believe that becoming globalized is the most effective way for poor countries to develop, others feel that there is a downside to the global village which requires careful consideration.

There is no doubt that globalization has produced many benefits for developing countries. The main advantage is for the economies of these countries. Third world nations can access the markets of first world countries through a globalized system of trade. Consequently, these poorer states can find new and expanded markets for their products. In addition, a globalized world provides opportunities in education. Once again, young people from underdeveloped countries could have the chance to engage in the education services of more developed nations. This can only benefit developing countries, as a well trained workforce is critical for an advanced economy.

However, globalization does have some drawbacks. Critics say that local companies are in no position to compete with powerful multinationals. To allow international companies to operate in less developed economies can lead to the extinction of local businesses because multinationals tend to monopolize and control commercial opportunities. In addition, it can be difficult for third world countries to protect their indigenous cultures. One example of this is the way that English is used for international business. This often means that the need for less useful ethnic languages is diminishing. Consequently, many languages are disappearing, and, as a result, culture is also eroded.

To conclude, in my opinion, the advantages of globalization far outweigh the disadvantages. Governments of developing countries should embrace a globalized world. If these countries apply globalized systems carefully, they can protect their cultures while enjoying the economic benefits of globalization.