Speak About Globalization

Speak about globalization. In fact , there are two sides of globalization benefits and drawbacks. Migration of labour  force. The  global common market. Across borders. Elimination of  barriers. But there is another side of the coin. GDPs Gross domestic product. As a result. Transnational , international and global companies. Imposes additional costs. Tariffs , time costs due to border delays and costs. To sum everything up. Managing a global multinational company. Scarce natural resources. Gain certain economic power. EU trade bloc.

What are advantages and disadvantages of economic globalization to the country‘s economy?

What are the impacts of globalization on the economy of Lithuania?

It is associated with the emergence of the global market (marketplace), liberalization of trade, free trade, the removal of cross border tradebarriers, the expansion of multinational organizations and advanced technologies.

In fact, there are two sides of globalization: benefits and drawbacks:

One of the advantages of globalization is that increased international trade, enhanced capital flows and migration of labour force. International trade makes it possible to integrate markets of separate countries into the global common market. Commodities, goods and services move freely across borders. So customers are offered a wider range of goods and services. It increases competition for local companies. Elimination of barriers created good conditions for free trade. It helped to increase living standards of countries. Liberalized trade, free flow of capital also affected migration. People move to find in the advanced economies better paid jobs.

II. But there is another side of the coin. Globalization has also brought exploitation of workers, social inequality, poverty,environmental issues and the instability of the world market. Large multinational corporations often establish factories in rural economies and use sweatshops or child labour, where workers are paid very low waged and work in very poor conditions.

The damage to environment (global warming, pollution etc) was also caused by global processes.