What are Global integration advantages and disadvantages?

Answer 1

Globalization is such a commonly used term in the twentieth century. It simply means that the world has become integrated economically, socially, politically and culturally through the advances of technology, transportation and communication. It is undeniable to say that globalization has resulted in both positive and negative effects which must be addressed accordingly.

To begin with, globalization has contributed to the worlds economies in many beneficial ways. The advances in science and technology have allowed businesses to easily cross over territorial boundary lines. Consequently, companies tend to become more productive, competitive thereby raising quality of goods, services and the worlds living standard.

Secondly, several companies from the more developed countries have already ventured to establish foreign operations or branches to take advantage of the low cost of labor in the poorer countries.