Reflection on globalization

Globalization is the system of interaction among the countries of the world in order to develop the global economy. It refers to the integration of economics and societies all over the world. Globalization involves technological, economic, political, and cultural exchanges made possible largely by advances in communication, transportation, and infrastructure.

There are many advantages of globalization such as increased free trade among nations, increased liquidity of capital allowing investors in developed nations to invest in developing nations, reduces cultural barrier and reduces the likelihood of wars among nations. It really helps for the people who work abroad in many different ways. However, globalization can also be disadvantageous as it might affect the nations to lose its own culture and just be like any other nation. The Yokohama assignment proves how Japan has globalized over the years. But even then, it has managed to retain its originality and its culture, which most of the countries are not capable of these days. Even though globalization can affect in both positive and negative ways, but it is important for every nation to progress economically and socially.

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