Globalization affects the global economy in a very positive way, but we must not forget about the negative side.
What is your opinion? have a discussion.
There are many opinions among people about how globalization is affecting the global economy.
Some people argue that globalization has brought dramatic economic growth and more jobs worldwide, especially in developing countries. But criticism is being made to remind people of the negative effects of globalization.
Since globalization first formed the concept, the economy and employment have flourished in some developing countries over the past 30 years.
Countries such as China, India, and South Africa, which are struggling with economic development, are greatly affected when most large enterprises migrate to countries with low tax rates and low labor costs.
This particular wave has created tremendous new businesses in underdeveloped countries. That is why globalization has greatly boosted the economy and employment.
However, some economists and sociologists believe that globalization has not created jobs worldwide. Rather, they moved jobs from developed countries to developing countries.
On the other hand, as employment opportunities in China increase, the United States is struggling with a high unemployment rate.
It also argues that globalization encourages dependence on other countries, so if one country’s economy collapses, the other’s economy may be compromised.
The global economic crisis in 2008 showed that this dependence was very negative between countries at risk.
In conclusion, globalization plays an important role in the economic and employment development of developing countries.
However, there is evidence that it has a negative impact on developed countries in terms of economic growth and the labor market.
In addition, unhealthy dependence on the state is another issue related to globalization. Globalization affects the global economy ielts writing task 2 sample essay.