What is your opinion about Globalization?What are the effects of it?

Question

What is your opinion about Globalization?What are the effects of it?

Answer 1

Globalisation is Increased international trade. Which has made us wealthier and allowed us to lead more diverse lifestyles.

The term "globalisation" was first coined in the 1980s, but the concept stretches back decades, even centuries, if you count the trading empires built by Britain, Spain, Portugal, and the Netherlands.

Some would say the world was as globalised 100 years ago as it is today, with international trade and migration.

But the 1930s depression put paid to that. Nation states drew back into their shell.

The resolve of Western states to build and strengthen international ties in the aftermath of World War II laid the groundwork for today's globalisation.

It has brought diminishing national borders and the fusing of individual national markets. The fall of protectionist barriers has stimulated free movement of capital and paved the way for companies to set up several bases around the world.

The rise of the Internet and recent advances in telecommunications have boosted this further.

For consumers, this is largely a good thing. Vigorous trade has made for more choice in the High Street, greater spending, rising living standards and a growth in international travel.

And that's just the tip of it. Supporters of globalisation say it has promoted information exchange, led to a greater understanding of other cultures and allowed democracy to triumph over autocracy.