Globalization has pros and cons but pros are more if the principles of globalization are going to be implemented properly. No system is perfect and thus pros and cons will be there, but if pros are more than cons, then that system will produce more benefit for the economy and culture.
The advantages of globalization include higher economic output, the dismantling of trade barriers and monopolies, the opening up of inefficient sectors of the economy and improvement to economies of scale that result in lower prices to consumers.
Respond to the following:
• Discuss your viewpoint on whether or not you think globalization will continue until we all live in our “global village”.
• Give specific examples on how information technologies that are being developed at a fast rate have influenced globalization.
Please state at least one reference