Pros and Cons of Globalization

Globalization refers to the absence of the walls of matchboxes that every country had, between themselves based on suspicion, mutual distrust and ambition. We were different countries, in fact divided into worlds, and therefore could never manage to deal with natural holocausts and deadly epidemics, which time and again challenged us. Globalization has strengthened the nexus and has helped us to know each other's need in a better way. It has helped to demolish those walls that separated us and curbed our natural identity of being fellow human beings. Globalization has primarily become a fiscal term but its impact is not limited to the economy of the countries only, the term globalization actually refers to every aspect of life-like cultural, social, psychological and of course, political.

It is true that the impact of globalization is visible and affects largely the politics and the economy of the country but its effect on the mindset and the culture is noticeable gradually in the way people think and react. It's like the Iceberg theory wherein what we do and say are at the tip and what we think and believe is at the base. The base is not visible but manifestations at the top are conspicuous. It applies here as well where people do not change abruptly but may be after a decade the change starts showing and seems radical.

World During the Pro-globalization Era
Globalization is not a new phenomena, the base was laid long back when the Dutch East India Company and the British East India Company started trading with India. In history, there were trade relations between different countries like Arab and Egypt and now in modern times that has translated into Globalization or Free Trade. It's true that ultimately all the free trade resulted in the white man taking the burden proactively but then globalization leads to more employment and higher standard of living, especially among the developing countries. Theories suggest that globalization leads to efficient use of resources and benefits all who are involved.

According to libertarians, globalization will help the world to deal with crises like unemployment and poverty. It will help us to raise the global economy only when the involved power blocks have mutual trust and respect for each other's opinion. Globalization and democracy should go hand in hand. It should be pure business with no colonialist designs. The way we have developed in the last 10 years, globalization seems to have given us good returns. Globalization has made the life of the third world citizen completely a different story. There are so many foreign companies that have made way to Orient and have made India a brand name all over the world.

Pros and Cons of Globalization
There are many advantages and disadvantages of globalization. Some of these good and bad points of this worldwide phenomenon are discussed below:

Advantages of Globalization
The pros of globalization are many and they are as follows:

• There is a worldwide market for the companies and for the customers there is a better access to products from different countries.
• There is a steady cash flow into the developing countries, which gradually decreases the dollar difference.
• Due to the presence of a worldwide market, there is an increase in the production sector and there are lots of options for investments for different companies.
• Gradually there a world power is being created instead of compartmentalization of power sectors. Politics is merging and decisions that are being taken which are actually beneficial to people all over the world.
• The influx of information between two countries increases, especially those nations who do not have anything in common between them.
• Cultural intermingling increases and every nation tries to know more about the other nations cultural preferences. In this process, we are actually coming across things that we like and in the course of time adopt it.
• Since we share financial interests, corporate and governments are trying to sort out ecological problems for each other.
• Socially we have become more open and tolerant towards each other and these who live in the other parts of the world appear more approachable than before.
• There is a lot of technological development that countries have undergone over the years. Thus, helping in sharing of information and technology. This helps most of the developing nations progress at the same speed as the developed nations.
• Globalization helps in increase of demand of products. This in turn increases rate of production. Manufacturers thus, find this profitable and helps in availability of more jobs.
• Globalization makes the economy of one country dependent on the economy of the other country. Any change in economy one country will affect the other. Thus, governments become more concerned about one another to curb the economical imbalance between them.

Disadvantages of Globalization
There are cons of globalization are as follows:

• Many people from developed nations are losing jobs and that is posing a problem for them since the companies are outsourcing work to developing countries since the cost of labor is low and profits the company considerably.
• There is immense pressure on the employed people of developed countries who are always under the threat of their jobs being outsourced.
• Corporates are building up units in other countries that equally well equipped, thus transferring the quality to other countries.
• There are some experts who think that globalization along with the positive aspects is also leading to the incursion of negatives like communicable diseases and social degeneration.
• There is also a threat of corporates ruling the world because there is a lot of power and money invested by them due to globalization.
• For nations that are at the receiver's end are also giving up the reins in the ends of a foreign company which might again lead to a sophisticated form of colonization.
• Globalization may lead to loss of cultural identity as Western ideas are always imposed upon the Eastern thoughts.

Impact of Globalization
Globalization has made way for free trade and business. It has also helped improve communication around the globe. It has potential to make this world a better place to live in. It is changing the political scenario thus deep-seated problems like unemployment; poverty and shift in power are coming to the picture. The marginal are getting a chance to exhibit themselves in the world market. The term "brand" is catching up in the Asian countries.

It is not only modernizing but also westernized the native cultures. The power play is leading to the linguicide or linguistic, cultural and traditional genocide. That is probably where we need to keep a check and not let diffusion go wild. There has been significant de-localization that needs people to be more tolerant since face-to-face interaction is no more the order of the day. It so happens that an American is trying to sort out his billing issue of his mobile phone with an Indian call center employee who is not the direct employee of the service provider. Now that sounds complicated and has to be dealt carefully. Globalization cannot be stopped. But, one can always keep a check on its spread and outcomes. This was all about globalization pros and cons. Globalization makes the world better. The question is how prepared are we to face all the pros and cons of this global change.