Pros and cons of globalization

Answer 1

PROS

-- Productivity grows more quickly when countries produce goods and services in which they have a comparative advantage. Living standards can go up faster.

-- Global competition and cheap imports keep a lid on prices, so inflation is less likely to derail economic growth.

-- An open economy spurs innovation with fresh ideas from abroad.

-- Export jobs often pay more than other jobs.

-- Unfettered capital flows give the U.S. access to foreign investment and keep interest rates low.

CONS

-- Millions of Americans have lost jobs due to imports or production shifts abroad. Most find new jobs--that pay less.

-- Millions of others fear losing their jobs, especially at those companies operating under competitive pressure.

-- Workers face pay-cut demands from employers, which often threaten to export jobs.

-- Service and white-collar jobs are increasingly vulnerable to operations moving offshore.

-- U.S. employees can lose their comparative advantage when companies build advanced factories in low-wage countries, making them as productive as those at home.
In globalization everyone gets 'a bit' as in the job is shared everywhere, and everyone can access it, but this can mean that jobs can go abroad because of cheaper labor (outsourcing), there are lots of different factors though. Search 'what is outsourcing' for more info.

Answer 2

Today is the era of Globalization. There are number of positive effects of globalization, some of which I am sharing here;

1. Resulted in high competition

2. Employment opportunities

3. Investment & capital flow

4. Foreign trade

5. Spread of culture

6. Spread of education

7. No barriers now. etc.

Answer 3

The pros of globalization is that people are more interconnected and they can learn from each other. Also, globalization leads to competition and innovation.

Answer 4

Merchants can broaden their clientele because they could sell to more people .