Globalization Personal Statement Example

There has been ongoing debate regarding the effect of the globalization on the growth and development of the overall world. There are different views regarding the impact of the globalization; according to one school of thought globalization is beneficial for the overall economic development, whereas according to some people globalization results in negatively influencing the overall world. However, the best and most realistic stance in this regard is the middle position regarding the effect of globalization.
Globalization has changed the world in many ways; the environment of all the countries in the world has got the impact of globalization. Globalization has thousands of advantages but it has also a negative impact in many ways as well. On one hand globalization has allowed the different countries and economies to enter into international markets and take advantage of all technological advancements. On the other hand the globalization has made it difficult for the small companies in the developing countries to survive because of increasing competition.
Globalization has highly increased the trade between the countries, imports and exports are at its peak, multinational are expanding with a great pace. Developed economies are making maximum profits by expanding in the global market, but it is not very much beneficial for the developing economies. In developing economies imports are becoming higher which is directly affecting domestic businesses; many small businesses have been closed due to the globalization. The entrance of international businesses is discouraging the small businesses in the developing economies that cause declining in GDP. This is just one set of example regarding the positive and negative impacts of the globalization. Hence, it can be easily said that globalization has some advantages and some disadvantages. It is now on the countries and different companies to come up with effective and efficient strategies in order to enjoy the benefits of globalization and overcome the negative impact.
I am of the view that globalization has a positive impact more than negative impact; a huge number of businesses have been operating and expanding in the global market, trade has been increasing with a high pace, economies are growing, it has become easier to share information, and there is continuous technological advancement. These advantages are good enough to justify the importance of globalization in today’s world.