What are the key advantages and disadvantages of globalisation?
Globalisation is the process by which nations have become, and will continue to become, increasingly interconnected through economic, political, and cultural integration. Globalisation has had a very crucial role in breaking down the borders between countries; making the world a small village, so to say. For developing countries, in particular, globalisation has been bittersweet. It has allowed these nations to slowly improve their economic, social, and political states, however, it has also given developed countries the ability and the means to exploit their people, environment, and cultures. One thing can be said about globalisation: for better or for worse, there isn’t much that we can do to stop it from happening.
The greatest benefit that developing countries gain from globalisation is free trade, whereby nations can import and export goods without having to worry about taxes and tariffs, and other trade barriers. Free trade brings a plethora of beneficial side-effects: it improves the quality of life for developing nations’ citizens, by allowing them to import goods that may not be readily available, or that may be too expensive to produce within their own borders CITATION Osm17 l 3081 (Vitez, 2017). This helps from a healthcare point of view, where those developing nations can purchase medicine and technology that would improve the health of its people. in addition to improved quality of life also increases the life expectancy of the men, women, and children that live in that country CITATION Osm17 l 3081 (Vitez, 2017). Free trade also provides developing nations with the chance to better their foreign relations with other countries CITATION Osm17 l 3081 (Vitez, 2017). By engaging in trade relations with other nations, these developing countries will employ the help of