Globalization and Its Affects

Globalization is the process of growing integration of economies and societies around the world. It refers to economic globalization through  trade,  foreign direct investment, capital flows,  migration and the spread of technology. The principle of globalization is free markets, reduction of barriers in exchanging and trading goods,  which makes  the specialization in export-import. However, globalization has not only positive, but  also  negative  effects.Firstly,  it  is  necessary to mention that globalization  makes  our society  develop. It helps to share   ideas and innovations. Globalization  has an  impact on economic growth in the world. An impact of Foreign Direct Investment on economic growth has had a positive growth effect in wealthy countries and  has led to an increase  in trade resulting in higher growth rates. On the other hand, many firms from developed countries outsourced their manufacturing to so-called third world countries , where  the labour  costs are  low.Workers from developed countries are  not happy about that, because they feel that  their jobs are  taken from them. Another problem of globalization and outsourcing is that it encourages slavery and child labour. Furthermore, I  would  Ã‚  like to add that people become more social when there  are  no borders between countries. They can move freely from state to state, share their ideas and beliefs. In everyday life we feel an impact of globalization as we  can  enjoy foreign cuisines, music, art, movies or even learn foreign languages.However, globalization  causes  Ã‚  huge damage to national culture, because we  are greatly influenced by  more developed countries and we cannot  resist it. It  is  known  that globalization is about sharing novelties. Medicine and health care  are  improving all the time. Globalization helps doctors and scientists from all over the world share ideas and even work toget her so  that  they can reach better results and make new discoveries. However, globalization  is thought to have contributed to the  spread  of  diseases, especially AIDS.When it appeared in  the  USA, it was known just in some African states. Owing to the process  of globalization and colonization,  it  has  spread in the whole world. On balance, globalization is spreading rapidly in  contemporary  world. It improves economic  ties  between countries and helps to create  a  barrier-free trading system. Although it  has beneficial  influence  on  economy, globalization makes  an adverse  impact on culture and traditions.