What are the pros and cons of globalization condensed?

Pros of globalization:

-It can increase trading ,and the developing countries would have an greater access to market overseas,hence the more developed countries would be able to enjoy cheaper goods while the developing countries would be able to buy goods with higher quality.

-It promote cultural intermingling and countries would be able to learning more about other cultures, thus building up mutual respect to each other. This is likely to lower the possibility of discrimination and divergence between people. It would also promote initiatives to create new ideas and products.

Cons

-There would be a loss of cultural divergence,which is important to building one's cultural identity as well as self-identity.

-It could potentially widen the poverty gap. Large multinational corporations are likely to dominate the market thus threatening the opportunities for local corporations or smaller brands survival.

Hope it helps!

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