Answer:
Globalization is when various facets of society operate at a truly global level rather than locally or regionally. Globalization has been the driving force behind the explosion of wealth that has been occurring all across the planet. Here in the United States we see the consequences of globalization on a developed economy. As the US economy transitions more completely into a service-based economy from an industrial-based economy, labor-intensive jobs naturally migrate to developing and emerging markets where cost of production for manufactured goods is lower.
For international trade and commerce that can mean businesses can operate globally and traditional barriers to commerce thrown up by nation-states don't apply. That means you can put your factories where its most cost effective to place and you can hire talent from developing countries. Nevertheless, the critics will persist, "what about the exploitation? Surely you're not going to defend sweatshops!" Well, I am. Sweatshops are terrible, it's agreed. But, here's the thing they're better than the alternative. If they weren't, they wouldn't exist. No one would work under such conditions if there was a better option. Now, this is the economic defense: sweatshops are often the beginning of surplus income for many people. Surplus income is extremely important in developing economies, as it is only when people begin to save that investment can occur, and it is investment that drives growth.
A drawback might be that since corporations aren't constrained by borders then its hard for any one nation-state to enforce its laws over that corporation without that corporation having an easy way to skirt the law by just doing the same thing in some other nation-state where the activity is permitted. Or if people in country A work in a factory they can't exactly move to country B if the corporation decides to move its factory.
Globalization also means that cultural barriers change and erode. That's great if you're a movie producer who normally only sees distribution in the USA but can now show the movie in Europe and China as well. Culturally, globalization is what the world's idea of tradition, spirtuality, and language is founded on. What makes each country unique in this aspect is what their people created out of the sharing of these traditions and ideas. . Around 60,000 years ago, cumulative cultural adaptation was what propelled modern humans out of Africa in small tribal groups, by enabling us to acquire knowledge and produce technologies suitable to different environments. Eventually these tribes would occupy nearly every environment on Earth.
But if you live in a country in Africa today and see that all the kids in town don't care about older traditions and instead want to listen to American Music and watch French Cinema then you may not like that. Then again, it's easier than ever to share your cultural tradition in Africa with the world at large. Ironically, globalization doesn't seem to foster diversity. Globalization seems to be synonymous with 'Westernization'. Now, I don't think that Westernization is inherently a bad thing but as stated earlier, not every society in the world should be a pastiche of the West because it doesn't have the same effect everywhere. Globalization means everyone's speaking English (not a very efficient language, no offense to the British), wearing suits in hot weather, celebrating Christmas (no offense to Christians, but Christmas shouldn't be for everyone), etc. Even when building sprawling cities, everyone's just copying what the Western countries do. No-one seems to care about being original or asking whether gigantic cities are even necessary and if so, why they are necessary.
In conclusion, globalization does have some negative consequences, particularly for developed nations, however, far fewer people have become poor in the United States than have been raised out of poverty in the rest of the world because of it. Globalization sets up relationships between nations that further stabilize the whole network of humanity
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