Even though globalization effect the world’s economies in very positive way, its negative side shouldn’t be forgotten. Discuss.

The expansion of Industries and markets within countries has boosted economies globally. However, this also brings in various side effects in society. Let’s explore both sides of the coin.

Firstly, according to my rumination, globalization has brought various changes in last decade, especially in developing countries. It has created lot of job opportunities, developed small and big cities etc. which in turn has helped society to develop their living standards and have access to luxury.

Another positive effect is that it has brought changes in the ways of working of businesses. For eg. Recent acquisition of Indian giant organization HUL by minor stakeholder Unilever which is a UK based company clearly shows that country’s businesses are open to westernization.

However, these developments are also bringing various changes in society. One of the significant change is adaptation of western culture. Current generation is attracted with the western ways of living and forgetting their own country values. For eg. Many families in urban areas prefer nuclear family instead of joint which deprives children from family love and care. Another negative aspect of globalization is the adaptation of modern equipments and machinery due to which, we are losing touch with conventional and simple things like, coffee machines replacing handmade machines, library is replaced by google and kindle etc.

Albeit, globalization is important for country’s development, however we should bring in balance of both the world and shouldn’t ignore and forget our values and culture.