So, is globalization good or bad?

Question

What can the government do to balance between benefits and costs associated with globalization?

Answer 1

The answer to your question (which your "further remarks imply that you already know) is -

Yes - globalization (like so many other things) is/can be both good and bad.
"There are numerous advantages in the shift to a global economy including the possibility to increase benefits from economies of scale. The breaking down of global barriers allows companies to benefit from the largest and cheapest workforces, raw materials, and technology. For example, “many North American publishers actually write and produce much of their software in countries such as India.”[1] Other advantages that companies benefit from include: the opportunity for smaller companies to quickly expand globally, having more choices when recruiting a workforce and the opportunity to target a larger customer base (which translates to greater earning potential).
Many have argued a global economy also helps in promoting international cooperation and peace. If countries are dependent upon one another's economic success then armed conflict would be less likely. For instance, India and Pakistan are often in dispute over land territory such as Kashmir. It is likely that these two countries will not enter into combat for the severe negative effects on their economies. Essentially it would be mutually assured destruction (MAD) on a financial level."

"One disadvantage of a global economy is the increased need for transportation due to less local production. Increased transportation leads to increased emissions of greenhouse gases.
Another disadvantage of a shift towards a global economy is the argued loss of domestic jobs. Certain labor-intensive industries (like textile and even parts of the software development industry) tend to shift their production from developed countries to developing countries where wages are lower. This shift, it is argued, not only increases the unemployment rate in the developed countries, but in some cases leads to exploitation of third world workers, in particular, children. In contrast, many economists believe that the loss of domestic jobs is a temporary state, which will be offset by other industries if the barriers of trade are kept low. Lending support for this belief is the fact that the United States has seen its sharp decline in the number of domestic jobs in the textile industry mirrored by a similar decline in its unemployment rate.
Other disadvantages include: increased instability as was seen during the Asian crisis; the inability to create globally uniform regulations and legislation, which leads to phenomena like tax havens."

The tendency of investment funds and businesses to move beyond domestic and national markets to other markets around the globe, thereby increasing the interconnectedness of different markets. Globalization has had the effect of markedly increasing not only international trade, but also cultural exchange.

Investopedia says: The advantages and disadvantages of globalization have been heavily scrutinized and debated in recent years. Proponents of globalization say that it helps developing nations "catch up" to industrialized nations much faster through increased employment and technological advances. Critics of globalization say that it weakens national sovereignty and allows rich nations to ship domestic jobs overseas where labor is much cheaper."

The question pose din your "further remarks" is much harder to answer, especially since so MANY different answers are possible. Different governments would need to adopt different policies, depending upon their status in the current economic set-up, in order "to balance between benefits and costs."
Obviously, the so-called "developed" countries would have different streategies than the so-called "underdeveloped" ones. And, even within those classifications, countries' strategies would necessarily differ to some degree, depending upon the extent of the countries' "developedness" or "underdevelopednes"
For an excellent presentation of what one country (China) should do to achieve such a "balance". please use the third link below.
A sample:

"A primary reason China has become one of the biggest winners from globalization is the policy strategy that the Chinese government has followed in addressing the challenges of globalization. This basic policy has two pillars: actively opening up to the world while straining every nerve to protect the country's autonomy.
The key measures and stances that the Chinese government has adopted in actively joining into the processes of globalization include:
An independent globalization strategy. With a good understanding and anticipation of the processes of globalization, China has adopted an active and independent globalization strategy. China is a country where its politics are highly influenced by ideology; but ideological considerations have been consciously put aside in the pursuit of globalization. While many Chinese scholars were debating on globalization, Chinese leaders made their own judgments about the nature, advantages, and disadvantages of globalization; adopted an active strategy; and took appropriate actions in order to take full advantage of globalization. For example, China made tireless efforts to join the WTO, expanded international cooperation and exchange, actively participated in global governance and global actions to counter international terrorism, established the Shanghai Cooperation Organization, pushed forward negotiations to eliminate nuclear weapons in the Korean Peninsula, and proposed a strategy of "peaceful development."

Answer 2

In a capitalist society, the government represents the capitalists in the struggle with labor. Those capitalists are enriching themselves due to that imbalance between benefits and costs.

Global capital combined with provincial labor can only result in the concept made famous by Ralph Nader of the "race to the bottom." Capital is free to find the cheapest labor and the least amount of regulation. Meanwhile labor is stuck where it is at and finds itself incapable of protecting its rights at home since capital can just pack up and move on anytime labor begins to demand fair treatment.

Capitalism requires, among other things, a large supply of virtual slave labor around the globe. Without large numbers of people working for subsistence wages, capitalism would collapse overnight. The foundation of capitalism rests on the severe exploitation of the productive members of society for the benefit of the non-productive members.

The old union battle cry from days of yore has never been more valid. "An injury to one is an injury to all." The only way for the workforce to protect itself is through a global labor movement. But such a movement would be the end of the severe exploitation of workers upon which capitalism rests. A global labor movement would usher in world socialism as envisioned by Trotsky. The ruling elite and their representatives in the governments of the world's capitalist nations are not about to pursue any such fairness as that of balancing the benefits and the costs. It is the very lack of balance that is providing them with their tremendous riches.

Answer 3

As far as I know, it is benefitial on the whole even for the poor countries, although Western countries could be more fair.

I have personal experience too; I have "global relatioonship". Without the Internet and long-distance airplanes I would have never met my love.

Answer 4

Absolutely good. The reason liberals hate it so much is that globalism is nothing more than the export of Capitalism.

Answer 5

Globalization is good period! Even though it will never run perfectly and poor will always be exploited but not having it would be much worse.

Answer 6

it really is going to attempt to implant the residing house lifestyle into the host us of a. it will be cultural shocks over there. which incorporates a substitute in inner communique contained in the business organization to English language with out any care of the community language.

Answer 7

its good but act wisely.

Answer 8

bad