Globalization is a process that aspires to enlarge bussiness operations around the world, making use of technological advancements, as well as political and socioeconomic development.
On developed countries, it was proven beneficial as it led to economic growth. But on developing ones, it was harmful to their economy as the costs of it, outweighted the benefits. Although free trade* boosts opportunities for international trade, it also rises the risk of failure for smaller companies that cannot compete internationally.
*Free Trade: policy that erases discrimination against imports and exports.