What are the main advantages and disadvantages of globalization? When we look at globalization, the first benefit, from my perspective, is striking new opportunities. This main advantage reduces the shortage of strike resources and allows for higher production levels. Another key driver in globalization is cost benefit; with technological advances, we see a convergence in such a system. When time and space become relative and can be used ,business will find a way. Finally, we look at the benefits of time, dealing with the organization of different time zones, for it allows to turn around the operations of the clock and turn around faster. So when we look at globalization, we see cost, time and resources as the main advantages of any globalization strategy. For this comes inconveniences. One of the main concerns is the loss of kingdom and culture. This was expressed by many of our peers who experienced this first hand in the USSR. Other concerns relate to the exploitation of raw materials and the high levels of environmental pollution that lead to pollution. Overall, I feel that we need global rules to minimize these inconveniences. There have been several developments in the world of global law when it comes to Foreign Corrupt Practices Act, but this be expanded to include other issues besides just corruption. Globalization, as I feel, is necessary, but the question is not whether it will happen or not, but how it will happen. Is it a smooth transition or is the battle going to be chaotic? I feel that globalization has the ability to raise living standards on a global scale. My stance on the impact of globalization is that the number one way to raise everyone’s living standards is to increase productivity. This is done. I feel that the argument that it only benefits the rich is something that has been disproved time and time again throughout history. Creative destruction, as has happened in the past, will create more jobs and raise incomes, just like other revolutions. When we look at the agricultural revolution and the amount of creative destruction introduced by such a revolution, 95% of the population worked on farms where as of today only about 5 % are in such positions. It is an obsession which not only has benefited everyone, but has also produced more wealth and creation than anything else. This conversion ultimately contradicts Thomas Malthus who suggested that the earth’s primary supply of “food” cannot keep pace with an explosive population. Today I say that the first aid is not food innovation. Will we be able to use culture to sustain technology and innovation in the coming millennium? globalization also in today’s economy I see the requested essential. The protective nature of cultures will impose laws and control this growth, but as we move towards a knowledge and digital society, the world becomes borderless and the world as we know it will change. I mean we shape the future, we don’t hold back.
