The Pros and Cons of Globalization

The Pros and Cons of Globalization
The emergence of globalization many changes on the nature and form and functions of the nation-state and the nature of the international community, these changes were created to arrange a number of positive and negative effects.
 The Prospects of Globalization in the Economic Field:
1. Globalization represents the acceptable alternative for developing countries to eliminate the problem of specialization in primary products with specific added value by identifying the competitive capacities of commodities in each country so as to enable them to integrate or integrate and thus maintain intensive employment and improve the level of incomes.
2 - Technological development arranged enormous effects on the production process, including:
- Relative decrease in the importance of natural resources and raw materials in the production process
- Globalization has brought about radical changes in the proportions of mixing the different factors of the production process.
3. Globalization contributes to national income: The new trade theories provide reason to believe that openness has always affected the rate of growth of the country, not just the level of GDP. The high rate of economic interaction with the rest of the world accelerates the assimilation of advanced technology and the reduction of costs and monopoly competition for its expulsion.
4. Financial globalization contributes to growth rates as successful financial globalization not only enhances the financing opportunities for domestic investment but also has its catalytic and indirect benefits.
5. Encourage globalization to develop regional cooperation. The GATT allows economic blocs between the producing countries to be a single geographic region, with the exception of the MFN.
6. Economic globalization gives countries greater bargaining power at WTO meetings, since negotiations are not always bilateral in the framework of multilateral negotiations involving all the member countries of the WTO.
7. Economic globalization through the World Trade Organization (WTO) contributes to lower production costs and prices.
Globalization increases opportunities for choice and quality.