The document discusses whether globalization is good or bad for humanity. It defines globalization as the increasing integration of the global economy through free trade, capital flows, and accessing foreign labor markets. While globalization opens opportunities for economic development, it also poses risks of economic collapse. The document outlines both the economic, political, and social advantages of globalization, such as reduced poverty and increased cultural understanding, as well as the disadvantages, including struggles for competition and loss of local bargaining power. Overall, it concludes that globalization has more benefits than drawbacks for humanity if managed carefully.

1. GLOBALIZATION
I S I T G O O D O R B A D F O R
M A N K I N D ?

2. INTRO
Globalization is considered to be a
complex controversial phenomenon,
as it has the power to either open
new perspectives for economic
development or exterminate the
overall economic system. There have
always been ongoing debates on the
issue of globalization, the essence
of which lies in finding out whether
this phenomenon influences the
world positively or negatively. To
make the situation clear, the
definition of globalization should be
pointed out as well as its history
with advantages and disadvantages
addressed. Although globalization is
viewed as an adverse process, it
brings more use than harm to the
world.

3. DEFINITION OF
GLOBALIZATION
According to the dictionary, the
concept of globalization is defined
as “the development of an
increasingly integrated global
economy marked especially by free
trade, free flow of capital, and the
tapping of cheaper foreign labor
markets” (“Globalization”).

4. HISTORY OF GLOBALIZATION
Since ancient times, people have been in the pursuit of
new opportunities and territories for settling and
trading due to advances in the fields of transportation
and technologies (Kolb).

5. ECONOMIC ADVANTAGES OF
GLOBALIZATION
There is a possibility to exchange the goods internationally.
Free trade is targeted to decrease the barriers between the
countries such as “tariffs, value-added taxes, subsidies”
(Collins).
Free trade is considered to be a trigger of economic
development as it enhances job creation, competition, and
consumer satisfaction.
Globalization decreases the level of poverty and unemployment
by means of international investments and technological
support (Collins).

6. POLITICAL ADVANTAGES OF
GLOBALIZATION
Globalization reinforces democracy, excluding the colonialist
model.
Globalization unites the compartmentalized power sectors
transforming them into a world power. It results in the merging
of politics, influencing political decisions and their targets.
Globalization provides access to international and financial
support.
Globalization allows governments to borrow useful experience
from each other (Collins).

7. SOCIAL ADVANTAGES OF
GLOBALIZATION TIMELINE
Globalization unites people all over the world.
Globalization ensures a more profound comprehension of
foreign cultures, traditions, and values.
Globalization has promoted the development of people’s
openness and tolerance to each other.

8. ECONOMIC DISADVANTAGES OF
GLOBALIZATION
Globalization leads to a struggle for competition.
Globalization can result in economic collapse for a developing
country, making it poorer. (Many companies in developed
countries, Apple Inc. for example, use the cheap labor force of
developing countries, such as in China.)
Globalization can cause a global imbalance, as multinational
companies have more bargaining power than local ones (“9
Advantages and Disadvantages of Globalization”).

9. POLITICAL DISADVANTAGES OF
GLOBALIZATION
Globalization is considered to be similar to the processes of
industrialization and colonization, as it can provide one country
with more power than others (“9 Advantages and Disadvantages
of Globalization”).
As all the countries participate in the decision-making process,
it is more difficult to achieve proper cooperation and
coordination, being expensive and not always effective.

10. FINAL POINT
It is obvious that globalization has both negative and positive
aspects. On the one hand, it is a significant process which
produces considerable economic, political, and social effects on
humanity and the world. Nevertheless, there is also an opposing
side of this phenomenon, as the majority of its advantages have
side effects and can lead to negative consequences if
globalization is guided improperly.
In general, the world needs constant changes and improvements
which can be offered by globalization; that is why this process is
considered to play a crucial role for humanity, having more
advantages than disadvantages.