Economic Globalization: Good or Bad?

Globalization is a highly charged issue. It is considered both good and bad, depending on the angle you are looking from.
Globalization enables the flow of international information that facilitates trade and investment. The rapid decrease in the cost of telecommunications and transportation made human interaction across countries extremely simple. The international flow of knowledge of management practices and methods of work organization is another benefit of globalization. A major advantage of globalization is that countries that have a deficiency in a specific resource or skill can make use of foreign skills and resources to satisfy their needs. Besides, efficiency will improve if production of certain goods is done by those who can do it better, hence achieving highest quality at a lower cost. Globalization diminished national borders –the fall of protection barriers has stimulated free movement of capital and enabled companies to set up several bases around the world.
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