Q:

Why is globalization good?

A:

Quick Answer

Globalization is good because it provides the world with more efficient markets, increases competition leading to better goods, generates wealth in all parts of the world and builds and stabilizes security. Globalization is steadily growing as technology allows individuals within each country to communicate with people previously out of reach.

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Full Answer

The world is becoming increasingly interconnected as governments work together to solve global problems. The globalization process has made markets more efficient as businesses and organizations have had to relearn how to create a good or offer a service in the most efficient manner in order to make a profit.

The increased competition is another benefit of globalization. With new producers appearing frequently, there are more people and businesses competing for a share of the global economy. This leads to competitive markets that offer higher quality of goods as well as more affordable prices.

Another benefit of globalization is the change it offers to people in poorer countries. It gives these people a chance, though perhaps not nearly as great as the chance people have in wealthier nations, to sell goods and to make a profit leading to greater wealth distribution. Globalization also protects the world as countries depending on one another for their economy stability are less likely to attack one another.

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