How does globalization influence the world?

in #question5 years ago

View this answer on Musing.io

firstly, lets get to know the meaning of globalization.

now globalization can be explained as a process where by people, businesses and government of different countries world wide integrates and interacts . now from this process by which countries integrates and interacts , its brings about economic development . 

globalization influences the world in so many ways, it could be affecting a country negatively or positively. the influences of globalization are explained below;

1. through globalization, the world could share ideas, share goods , provides helps to countries in need, provide loans to countries that are broke, exchange of services and trade could begin. all this actions makes the world a better place because all the countries could get one or two tings need in their country , which triggers improvement in their economy

2.  through globalization, countries all over the the world stands a chance of improving their economy through technological advancement. due to the fact that countries interacts and integrates, they tend to learn and also get some so insights  on acquiring or developing or usage of new and recent technology in use. this brings about efficiency and improvement in the the output produced economically.

3. globalization paves ways for foreign direct investments, i.e. foreign investors will help improve the economic state of another economy by directly investing in that country. this tends to bring about creation of jobs and production of more goods and bringing of new ideas to a country

4. globalization helps in creation of employment. this is achieved through creation of jobs from foreign investors. this act will bring about development in such country and help in the reduction of poverty

5. due to the fact that globalization have opened room for direct investment from foreigners, the local or domestic small scale business are being killed due to their inability to compete with the international organisations coming to settle in on the same line of work.

6. globalization makes the world kind of lazy because due to the fact that a country can make or produces a product and they know that they could get it, they neglects improving in that area and focuses on something else. in a nutshell, what i am trying to say is that globalization makes the one country over dependent on another country.

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