what’s a postive and negative affects of globalization? please explain in a paragraph
Positive and Negative Impacts of globalization
Globalization is associated with different impacts. On the positive side, it gives access to a larger market. Through globalization, companies can increase their market size hence a large consumer base. Besides, it aids in providing cheaper goods for consumers because globalization allows companies to move their products to different places where production costs are relatively low. Also, it leads to better economies and promotes peace and unity.
On the other hand, globalization has several negative impacts. First, it causes environmental damages and global warming. Secondly, it affects the economy by leading to price fluctuations (Amavilah, Asongu & Andres 2017). Also, it causes job insecurity where it creates double-edge opportunities. It creates job opportunities for countries with cheap manufacturing and production costs and leaves the other countries with fewer jobs.
Amavilah, V., Asongu, S. A., & Andrés, A. R. (2017). Effects of globalization on peace and stability: Implications for governance and the knowledge economy of African countries. Technological Forecasting and Social Change, 122, 91-103.