Globalization and Its Affects

Globalization is the process of growing integration of economies and societies around the world. It refers to economic globalisation throughtrade,foreign direct investment, capital flows,migration and the spread of technology. The principle of globalisation is free markets, reduction of barriers in exchanging and trading goods,which makesthe specialization in export-import. However, globalization has not only positive, butalsonegativeeffects.Firstly,itisnecessary to signify that globalizationmakesour societydevelop. It helps to share ideas and innovations. Globalizationhas animpact on economic growth in the world. An impact of Foreign Direct Investment on economic growth has had a positive growth effect in wealthy countries andhas led to an increasein trade resulting in high growth rates. On the other hand, many firms from unquestionable countries outsourced their manufacturing to so-called troika world countries, wherethe labourcosts arelow.Workers from developed countries a renot happy about that, because they feel thattheir jobs aretaken from them. Another business of globalization and outsourcing is that it encourages slavery and child labour. Furthermore, Iwouldlike to add that spate become more social when thereareno borders mingled with countries. They provoke move freely from state to state, share their ideas and beliefs. In common life we feel an impact of globalization as wecan savour foreign cuisines, music, art, movies or even learn foreign languages.However, globalizationcauses coarse damage to national culture, because weare greatly influenced bymore developed countries and we cannotresist it. Itisknownthat globalization is about sharing novelties. Medicine and health careareimproving all the time. Globalization helps doctors and scientists from all everyplace the world share ideas and even work together sothatthey can reach better results and make new discoveries. However, globalizationis thought to hold contributed to thespreadofd iseases, especially AIDS.When it appeared intheUSA, it was known just in just about African states. Owing to the processof globalization and colonization,ithasspread in the all in all world. On balance, globalization is spreading rapidly incontemporaryworld. It improves economictiesbetween countries and helps to createabarrier-free trading system. Although ithas beneficialinfluenceoneconomy, globalization makesan adverseimpact on culture and traditions.