Globalization

Globalization has a negative impact on local businesses because of the worldwide “wars” with the price. Small businesses end up having to lower their prices of items if they don’t want to go out of business. This is because as more larger companies grow, the smaller businesses will have to gain more attention, therefore decreasing their price will be an attraction to consumers. Though this would attract a few consumers, the smaller businesses could go out of business as they don’t have as many facilities to afford decreasing the price of their products/services.

Globalization leads to world oil prices to increase due to the fast use of a large amount. Globalization’s demand for oil rises, which also shows that overall world’s oil demand is increasing as well. Also, the oil supply is not rising rapidly, which is why the price to actually buy this oil is significantly increasing.

Globalization has made it extremely difficult for immigrants to find work in new countries, as many countries have restricted their immigration policies, making it tough for immigrants to find work in new locations. Many companies now fire employees for the smallest mistake and replace them with a professional worker who is ready to work for less money.

Because of globalization, many people, mainly in rich countries, travel a lot. There are many terrorists who enter new countries on a work visa with the intent of committing a terrorist act. This has been a major source of concern for many people, causing them to lose trust in one another and affecting people who move to a new country to actually work.

Globalization leads to major global economic growth. This is because the initial goal of globalization is to actually power economic growth throughout the world. Competition will rise after global trades begin increasing. This is what will enforce money to be spread more equally around the world, leading to equal wealth. Therefore, this helps in decreasing poverty throughout the world.

Diversity is another one of the positive impacts of globalization. Globalization takes many ideas of local diversities and makes it known to the whole world. This connects different diversities together, which builds everyone's knowledge on different diversities.

Globalization increased competition, resulting in lower pricing and a greater range of items for customers, both of which benefit the customers. This benefits both developed and developing countries by allowing them to live better and pay less.

Globalization made it very easy to access other new cultures, such as new food, art, movies, and many other things. It also makes travelling and transportation to foreign places easier.