It is of no question that globalization has fast become a very positive factor behind the advancement of countries who are now having the option of boasting about access to diverse markets and export of cheap goods. Globalization has been beneficial for both local businesses and the big corporations. However, the situation has not been similar for the blue and white collar workforce, leading to the countries’ constant deindustrialization. Globalization in itself is a convoluted topic and it is extremely important that the profits and losses are in the same way calculated for the understanding of the expanse of impact that has on the biosphere and the human beings living in it.
People who are staunchly supporting globalization in all its aspects opine that it contains the possibilities of building this world into an advanced place for the sustenance of life and provisions for solutions of some deep-seated issues like poverty and unemployment. Free trade is allegedly there for the reduction of barriers such as subsidies, tariffs, value added taxes and some other state barriers. However, that is not the real scenario. Proponents are of the opinion that globalization is representative of free trade supporting international economic growth, lowering prices for consumers, generating jobs and building competitive advantage for companies. The driving price factors down by means of rivalry between nations is of no use as countries manipulate their currency for acquiring price advantage. Supporters are of belief that globalization and egalitarianism necessitates going together. There is a requirement of pure trade with no expansionist designs. Because of globalization, there is now an existence of global markets for customers and companies who have admission for the products of diverse countries. Gradually a world power is getting shaped rather than sorted power sectors. Merging is happening in politics and decisions are getting taken for the best of the people all over the world. Incursion of information amongst two countries with nothing shared is getting increased day by day. This has been helpful in the cultural intermingling of countries and helping in the people learning more regarding different cultures. This situation sequentially has assisted in bringing social directness and progressive tolerance levels for one another and other people too. Nevertheless, the most common issues that people have against globalization is that day by day the rich are becoming more richer and the poor are getting more poor. The largest issue for any developed country is that they are facing loss in occupations and getting shifted to low cost countries. The multinational companies get the choice of misusing tax havens in different other companies for dodging the paying of taxes.
On a concluding note, it can be said that globalization has been acting as an overpowering storm from the beginning itself. It can neither be controlled nor stopped. However, there are different strategies and policies that are existent for making the situation equitable. Trade laws can get enforced and avoidance can be carried out in giving competitors the winning tools for global wars.