As technology continues to grow and brings us closer together, the world has become increasingly smaller. People in one part of the world are increasingly aware of news and events even in distant places. This global awareness has been fueled by advances in communication technology such as the internet, mobile communications and satellite broadcasting.
At the same time, the global economy has been expanding and there are now more opportunities than ever before for entrepreneurs to do business in different countries. As a result, people are more mobile and willing to discuss business and trade across national boundaries. In addition, the World Trade Organization has created new rules and regulations which have made trade easier.
The global economy has also allowed multinational corporations to take advantage of the skills of employees from different countries. Companies are now able to do business in more than one country, establish joint ventures with other companies and benefit from the economies of scale associated with these wider footprints.
But, globalization doesnt come without its challenges. Globalization has been blamed for the increasing level of pollution, poverty, and inequality. It has also been suggested that it could lead to increased economic instability and a decrease in wages. There have also been issues associated with the exploitation of workers in poorer countries as well as the erosion of cultural boundaries.
However, it is important to remember that there has also been a great deal of progress as a result of globalization. For example, it has resulted in the spread of democracy and a greater focus on human rights. This has been reinforced by non-governmental organizations such as Amnesty International and Human Rights Watch.
In addition, the growth of the internet has led to an explosion in global communication and knowledge sharing. Professionals in one part of the world can now easily communicate and collaborate with their counterparts in other countries. This has led to increased understanding, faster access to information and reduced costs.
Overall, globalization has had a positive impact on the world. While it does have its challenges, it has been beneficial for the vast majority of people. Governments and organizations should focus more on how to manage the potential downsides of globalization and focus on how we can ensure that the benefits of globalization are more widely shared.
