IELTS essay about the advantages and disadvantages of globalisation
Some people believe that international trade and communication with other countries is a positive trend, while others think it is harmful to nations and they might lose their identities. To what extent do you agree or disagree with this statement? Give your own opinion and relevant examples.
Generally speaking, international trade has benefited both developing and developed nations. It has created employment and helped reduce poverty levels in the developing world. It has also made some poor nations poorer. In my opinion, international trade and communications have both positive and negative aspects.
When countries engage in trade with other nations, they are creating more opportunities for their people. They can import their products and services to other nations and earn money. This will help their economy. India, for example, has seen substantial growth in its GDP after its economy opened up in the 1990s. Globalisation enabled Indian companies to compete with international companies. This improved wages and living standards in the country. Today, India is the fastest developing economy in the world. This wouldn’t have become possible without globalization.
On the flip side, globalization has its share of downsides too. It has resulted in the demise of several local companies that could not compete with multinational giants. In order to benefit from globalization a nation needs excellent manpower and natural resources. If it lacks in these areas, it will merely become a market where multinational corporates dump their products. As one can see, this does not help poor nations that lack skilled manpower in anyway.
Globalization benefits a nation only when it manages to export something to other nations. If its companies fail to compete with international companies, international trade will weaken local economies.
To conclude, international trade and communications have both positive and negative aspects. It tends to benefit countries that have excellent natural and human resources. Poor nations that lack these resources are unlikely to benefit from opening up their economies.