Even Though Globalization Affects the world’s economies in a very positive way- IELTS Writing Task 2
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Even though globalization affects the world’s economies in a positive way, its negative side should not be forgotten. Discuss the idea.
Elaborate on the topic and use synonyms for the words used in the question.
Mention the content of the subsequent paragraphs.
Globalization has enabled the world to become more connected than ever before.
Globalization has affected the local businesses of many countries in a negative way.
Summarize the essay and mention the final opinion.
The effects of globalization have been felt all over the globe over the past few decades. Today, the world is termed as a ‘global village’ thanks to the interconnectedness of the world economy. The liberalization of international trade policies has enabled the development of various developing economies of the world in a notable fashion. However, there is a dilemma regarding the overall nature of globalization. In this essay, I will explore the effects of globalization from both perspectives.
It is an undeniable fact that the international job market has flourished ever since the advent of globalization. Employment opportunities have proliferated to a great extent owing to numerous multinational corporations expanding their operations beyond their home country. Furthermore, the general standard of living has also been elevated by the availability of top of the line commodities and services from various other nations. These products are also made affordable to the public thanks to the adoption of liberal tariffs and customs duties. Additionally, as people are now able to travel across the globe with ease, we as a collective race are now more aware and welcoming of the distinct cultures that coexist in the world.
On the other hand, there are certain drawbacks to globalization that need to be addressed. The prevalence of international organizations and large-scale corporations overshadow regional commerce and local enterprises. Due to the predilection for mass-produced commodities, small scale businesses tend to incur tremendous losses and eventually have to cease their operations. Moreover, multinational organizations are known to avail cheap labour from developing countries. There are several instances where these corporations take advantage of the abundant unskilled labour and provide meagre compensation to the employees.
Finally, there are two sides to every phenomenon and so is the case with globalization. However, I believe that such an occurrence is inevitable as humanity progresses and we have to adapt to such circumstances.
Band 9 Sample Essay
Over the last few decades, the repercussions of globalization have been witnessed by people worldwide. These individuals hold opposing viewpoints on how globalization affects the global economy. Some argue that globalization has obviously resulted in rapid economic growth and improved job opportunities worldwide, particularly in developing nations. However, criticisms have been hurled to remind people of globalization’s negative implications. As a result, the following essay will look at the implications of globalization from both perspectives.
Globalization, without a doubt, has a positive impact on our daily lives for a variety of reasons, including helping to pool all resources, assisting in the development of underdeveloped countries, encouraging free trade among countries, improving economic growth, promoting technological advancements, and lowering unemployment rates by creating more job opportunities. Furthermore, the globalized economy has provided impoverished countries with economic opportunities, causing many multinational corporations to expand their activities beyond their home country.
On the other hand, globalization has clearly had negative implications, such as causing employment outsourcing from one country to another due to the availability of cheap labour in another, resulting in unequal economic growth, with richer countries benefiting more frequently than developing countries. Further, multinational companies dominate small and local businesses by recognizing low-cost labour from underdeveloped countries. There are countless instances where companies take advantage of the unskilled workers and pay them pitiful wages.
To summarise, every coin has two sides, and globalization is no exception. Globalization has a negative impact on economic and labour market growth in rich countries, despite its importance in accelerating economic and employment development in developing countries. As a result, some people praise globalization for bridging cultural and political divides. Others accuse it of wreaking havoc on local economies.
Meaning: a situation in which a difficult choice has to be made between two or more alternatives
Eg: The dilemma of studying abroad or staying at home was stressful to him.
Meaning: unable to be denied or disputed.
Eg: She was the undeniable champion of the race.
Meaning: develop rapidly and successfully.
Eg: The business flourished due to new investors joining the company.
Meaning: the arrival of a notable person or thing.
Eg: The advent of smartphones changed the realm of media drastically.
Meaning: increase rapidly in number; multiply.
Eg: The problems proliferated as more people got involved.
Meaning: have something because of.
Eg: Owing to his trip to Goa, he was now completely tanned.
Meaning: (of nations or peoples) exist in harmony despite different ideologies or interests.
Eg: India is home to countless cultures that coexist together.
Meaning: the fact or condition of being prevalent; commonness.
Eg: The prevalence of street outlets was evident in this part of town.
Meaning: appear more prominent or important than.
Eg: His quiet nature tends to overshadow his intelligence.
Meaning: suffer, experience
Eg: The expenses incurred had to be paid before midnight.