At contemporary society,economic globalization can be simply defined as the expanding world integration through trade and financial flow. It has significant effects on developed and developing countries. Due to the economic globalization, people’s living quality has been improved. However some opponents argue that the disadvantages of it cannot be ignored as well. This essay will discuss the both sides of economic globalization.
There are numerous benefits offered by economic globalization. Firstly,it improves people’s living quality. Owing to the increase of international trade,individuals could access different kinds of goods which come from different parts of the world. For example, Asian people can drink Starbucks in their own countries and western people have opportunities taste Asian food as well. Secondly,economic globalization creates plenty of jobs for developing countries. As the result of outsourcing,many multinational corporations extend their business in developing countries. Step such as this can help companies reducing expenditures,meanwhile,job opportunities be created. Thus,interaction of international business could provide positive effects.
Also,there are some negative effects caused by economic globalization. To begin with,environment degradation as a result of it. Many factories are build in developing regions which have soft environment laws. These factories lead to environmental problem by releasing sewage into the local rivers.
