Question

What are the positives of globalization?

Answer 1

Globalization has several positives including accelerated progress of development, international awareness and empowerment, and potential for increased wealth. However, it's important to recognize the drawbacks and have effective regulations in place.

Step-by-step explanation:

Globalization has several positives including:

1. Exponentially accelerated progress of development: Globalization promotes the exchange of knowledge, technology, and resources among countries, which leads to faster development in various sectors such as education, healthcare, and infrastructure.
2. Creation of international awareness and empowerment: Globalization connects people from different cultures and backgrounds, fostering cultural exchange and understanding. It also provides opportunities for individuals to participate in global initiatives and contribute to global issues.
3. Potential for increased wealth: Globalization opens up new markets for businesses, allowing them to expand their customer base and increase profits. This can lead to economic growth and the creation of job opportunities.

However, it's important to recognize that there are also drawbacks to globalization such as the potential for exploitation and the concentration of power in the hands of large corporations. It's essential to have effective regulations and safeguards in place to mitigate these negative effects.

Answer 2

Globalization allows companies to find lower-cost ways to produce their products. It also increases global competition, which drives prices down and creates a larger variety of choices for consumers. Lowered costs help people in both developing and already-developed countries live better on less money.