It’s a big word, but what does it mean? Hearing this word, the first thing we think is taking something across the world. It’s taking products, technology, knowledge, jobs, and information across the globe. It’s the coming together of countries and cultures to work together. It has been the way of doing things since the 19th century.

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So what exactly is globalisation?

It’s a big word, but what does it mean? Hearing this word, we first think of taking something across the world. It’s taking products, technology, knowledge, jobs, and information across the globe. It’s the coming together of countries and cultures to work together. It has been the way of doing things since the 19th century. 

That first ‘wave’ of globalisation was driven by steamships, railroads, telegraphs, and other technological advances and increased economic cooperation among countries. Moved forward by World War 1, The Great Depression and World War 2, the need for working with other countries and helping each other grew. 

What are the advantages?

Most industries work across countries, which has so many advantages. Working with other people, you get a more comprehensive range of skills, ideas and unique perspectives and ideas! It also increases skills and education, bettering countries’ understanding of subjects and attracting more job opportunities!

By doing this, they can gain a lot of new customers. There are many aspects of globalisation, including social and cultural. Culturally, globalisation brings us the exchange of ideas, values, and artistic expression.

There is a more comprehensive economic advantage of globalisation, and this is down access to a more significant labour force and more significant access to resources. It allows the countries to specialise in their trades. 

The social aspect of globalisation is vast. You may not realise it, but working with other countries and groups of people widens your perspectives, knowledge and understanding of how the world works and the other people in it. Working together helps eradicate racism and xenophobia, education and language learning, self-growth, and business and sales growth. 

What are the disadvantages?

There are many disadvantages to globalisation, like participating in fair trade, which is supposed to lower taxes; in fact, it does not. Countries can manipulate what their money is worth to get a better deal. It is supposed to provide developing countries with the chance to develop economically. That hasn’t been achieved in most countries, even though globalisation has existed for a long time. One of the most significant issues with Globalisation is that it has made the rich richer whilst making the non-rich poorer. There is also the issue that an economic downturn in one country could knock on other countries. 

Globalisation can cause excessive growth in different countries. That means that in some places, the inhabitants will be getting less money monthly than in other parts of the world. Some countries might receive more immigration, so the distribution of wealth can be harder to work out. 

Globalisation has transformed how countries work together, and there is no going back now. Even though there are a few flaws, working together is always much better than working apart.

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