The Benefits of Globalization

Globalization can be characterized as a term which describes how trade and technology made our planet more connected and independent. Globalization covers many areas e.g. economy, culture, politics and has a great influence on them. Over the past decades, the pace of globalization has led to strong results in areas such as technology, communication, science, transport and industry. Some people find the globalization process useful, because it positively affects the development of the world economy. Others are skeptical about this process, they think that globalization leads to inequality, unemployment and lower living standarts. Therefore globalization can lead to the unification of many cultures and peoples, but can also lead to ethnic conflict.