please tell me about globalisation..its advantages and disadvantages?

Answer 1

It depends on whether u r asking about economics, culture, or government.
In economics, it's bad for industrialized countries and good for developing countries. The main reason being, developing countries can typically produce a product for less money which is good for the consumers.

Answer 2

Globalization refer to a business climate in which anyone can do business in any country. Under this, countries remove trade barriers, reduce or eliminate duty tariffs, allow foreign companies to buy stock or even buy the local company. You can have an American hair-dresser in India, an Indian Dhobi in China, and so on.
ADVANTAGES: Through this, the artificial and protective barriers put up by a country are removed, local business is forced to improvise and offer better terms in the face of competition.
For Example,
(i) Indian Insurance company, LIC, offered pittance by way of bonus till others stepped in;
(ii) India had only Ambassador car ( 3 models in 40 years), Fiat NE 118 for decades. What is the scenario now.
(iii) The services provided by public-sector banks were atrocious till foreign banks stepped in with their glitzy, show-room like offices and COURTEOUS services.
DISADVANTAGES :
(a) Companies with weaker economies, weaker currency suffer by globalization.
(b) Often, many local industries are wiped out, leading to unemployment. They are unable to match the money power or the superior resources of the foreign competitors.
TO SUM UP: The disadvantageous are short-term, in the immediate future. Over time, the local industry becomes resilient, adapts itself and learns to live in the altered climate. India, which faced the harshness of economic liberalization that started 16 years ago is now on the rampage, gobbling up companies even in the developed countries, causing fear awe.

Answer 3

Globalisation or globalization is an umbrella term for a complex series of economic, social, technological, cultural and political changes seen as increasing interdependence, integration and interaction between people and companies in disparate locations. As a term 'globalization' has been used as early as 1944[citation needed] but economists began applying it around 1981. Theodore Levitt is usually credited with its coining through the article he wrote in 1983 for the Harvard Business Review entitled "Globalization of Markets". The more encompassing phenomenon has been perceived in the context of sociological study on a worldwide scale.

The term "globalization" is used to refer to these collective changes as a process, or else as the cause of turbulent change. The distinct uses include:

'Economically and socially positive: As an engine of commerce; one which brings an increased standard of living — prosperity to developing countries and further wealth to First World and Third World countries.
Economically, socially, and ecologically negative: As an engine of "corporate imperialism"; one which tramples over the human rights of developing societies, claims to bring prosperity, yet often simply amounts to plundering and profiteering. Negative effects include cultural assimilation via cultural imperialism, the export of artificial wants, and the destruction or inhibition of authentic local and global community, ecology and cultures.
A typical - but restrictive - definition can be taken from the International Monetary Fund,[1] which stresses the growing economic interdependence of countries worldwide through increasing volume and variety of cross-border transactions in goods and services, free international capital flows, and more rapid and widespread diffusion of technology.

While being a complex and multifaceted array of phenomena, globalization can be broken down into separate aspects:

industrial globalization (alias transnationalization) - rise and expansion of multinational enterprises
financial globalization - emergence of worldwide financial markets and better access to external financing for corporate, national and subnational borrowers
political globalization - spread of political sphere of interests to the regions and countries outside the neighbourhood of political (state and non-state) actors
informational globalization - increase in information flows between geographically remote locations
cultural globalization - growth of cross-cultural contacts


#Some Advantages


Increased free trade between nations
Increased liquidity of capital allowing investors in developed nations to invest in developing nations
Corporations have greater flexibility to operate across borders
Global mass media ties the world together
Increased flow of communications allows vital information to be shared between individuals and corporations around the world
Greater ease and speed of transportation for goods and people
Reduction of cultural barriers increases the global village effect
Spread of democratic ideals to developed nations
Greater interdependence of nation-states
Reduction of likelihood of war between developed nations
Increases in environmental protection in developed nations


#SOME DISADVANTAGES

Increased flow of skilled and non-skilled jobs from developed to developing nations as corporations seek out the cheapest labor
Increased likelihood of economic disruptions in one nation effecting all nations
Corporate influence of nation-states far exceeds that of civil society organizations and average individuals
Threat that control of world media by a handful of corporations will limit cultural expression
Greater chance of reactions for globalization being violent in an attempt to preserve cultural heritage
Greater risk of diseases being transported unintentionally between nations
Spread of a materialistic lifestyle and attitude that sees consumption as the path to prosperity
International bodies like the World Trade Organization infringe on national and individual sovereignty
Increase in the chances of civil war within developing countries and open war between developing countries as they vie for resources
Decreases in environmental integrity as polluting corporations take advantage of weak regulatory rules in developing countries