Question

In: Economics

What is your stand on globalization in the future? And what do you think can make...

What is your stand on globalization in the future? And what do you think can make this exciting phenomena for all of us? (3-4 paragraphs)

Solutions

Expert Solution

Globalization can be explained as the existence of
multiple powers around the globe.
In other words, when the power is dictated by the money a nation
has the phenomenon is referred to as globalization.
Globalization has seen the shift of power from the Americas and
Europe to all different continents.
The advantage of globalization is that it will help fight poverty.
More people can start their own businesses as they can sell their product to various parts
of the world and make money.
However, globalization leads to inequality because there is no limit to
profits that are made by multinational companies. In addition, globalization
also gives rise to terrorism around the world.
Furthermore, countries like the United States and some European nations
are not happy with globalization. The United States will no longer be the most
powerful country in the world. However, the Trump administration is taking steps
to control the rise of China and make America great again.
Globalization is considered to be a positive, since it leads to global economic
growth for the future. Globalization is synonymous with global prosperity.
However, wealthy nations are feeling like they are losing world power. In addition,
the global threat of terrorism is a big concern for the world.
Lastly, globalization leads to industrialization that leads to more pollution
around the world. Pollution has lead to global warming and the world will have to
counter global warming.

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