To what extent does economic globalization have a positive influence on the world?

Question

please help!

Answer 1

Yes, globalisation enable improved resource allocation in the World and therefore, World production is higher, quality of goods better and prices lower due to global competition. Globalisation does however pose problems for adjusting to the new and changing reallocation of resources and geographical production and employmnt pattern and some countries may initially suffer. It is through such suffering, countries and nations try to increase their efficiency, concentrate on doing things that are more advantageous to them and build up strengths where they are weak and stop producing those products in which they are less efficient than others from a comparative advantage point of view.

Answer 2

It creates more goods and services, does it with less resources, and they cost less.