What are the advantages & disadvantages of globalization?

Answer 1

Advantages:
More prodcuts
More Money
More competition

Disadvantages:
less small business
less diversity

Answer 2

Globalization creates open economies, societies and technologies. Some of its advantages can be seen as disadvantages depending on whether you are for globalization or against it. It makes it easier for countries to trade with each other. New technologies has allowed greater communication b/w countries. With open technologies, someone in the U.S. can transfer money through ecash to someone in China. But, this can also be a serious disadvantage. Globalization has made it easier for terrorists to communicate to each other via the Internet, learn how to make bombs with a click of a mouse, and because of the open societies, they can fly anywhere in the world. To some critics, globalization has weakened soveriegn states. Through globalizations IGO's such as the UN, and NGO's feel the need to help countries, by looking past the states soveriegn borders.