Question

What is globalization, and what have been its benefits and drawbacks in the modern world?

Answer 1

Globalisation is the process of interaction and integration of the people and the companies organisations across the world so as to provide a better conditions for the people of them their planet.

As far as the globalisation is concerned there are certain advantages and disadvantages where the advantages include

1) cultural exchange

2) communication made simple

3) development of trade

4) transfer of Technology

5) promotion of world peace

6) reducing the barriers of development

7) easy transportation acess

Disadvantages include

1) unemployment created for the locals in developed countries

2) various cultural heritages destroyed

3) the business people are the winners in the entire process

4) the income inequality is increasing