In contemporary society, our Earth is like a global village. With the development of technology, people can connect with others easily, and it promotes the connection between counties. Business also benefits from globalization. However it makes the world more complicated. Everyone fights for his own benefit. Globalization not only promotes the global economy but also frustrates it. The financial market, the labor market, and the product market are all affected by this trend.
Globalization gives the financial market a big surprise and brings the whole global finance together. Investors have more ways to invest their money, and it makes trading easier. Both sellers and buyers achieve benefit from it. However, if one country has a financial crisis, it will affect other countries, and if it is a big country, the effect will be greater. For example, between 1929 and 1933, we faced the most serious financial depression in history, which caused World War II and many other problems.
The labor market is also changing with globalization. It mobilizes the whole world's laborers work worldwide. Many kinds of people from various places get together to improve their own lives as well as the lives of others. However, some poor countries lose their skilled and talented workers to other countries, which causes rich countries to become richer more dynamic. In addition, some people lose their jobs in developed countries because their laborers are hired from other places because they work for less payment.
Under globalization, the product market changes at the same time. The whole world's products are traded together, which benefits developed and developing countries. Developing countries sell primary products and buy high-tech products from developed countries. Nevertheless, sometimes the trade is unfair to some developing countries because they are falling behind in technology. Moreover, trade barriers can also be found in some trades.
As we enjoy the advantages of globalization, we should also notice that there are some disadvantages that exist. The only way to live is to develop. If we want to protect ourselves, we should have great power other than having others pity us. In that case, globalization can be good for us. The world's trend is changing, and we must catch up with it.
Globalization gives the financial market a big surprise and brings the whole global finance together. Investors have more ways to invest their money, and it makes trading easier. Both sellers and buyers achieve benefit from it. However, if one country has a financial crisis, it will affect other countries, and if it is a big country, the effect will be greater. For example, between 1929 and 1933, we faced the most serious financial depression in history, which caused World War II and many other problems.
The labor market is also changing with globalization. It mobilizes the whole world's laborers work worldwide. Many kinds of people from various places get together to improve their own lives as well as the lives of others. However, some poor countries lose their skilled and talented workers to other countries, which causes rich countries to become richer more dynamic. In addition, some people lose their jobs in developed countries because their laborers are hired from other places because they work for less payment.
Under globalization, the product market changes at the same time. The whole world's products are traded together, which benefits developed and developing countries. Developing countries sell primary products and buy high-tech products from developed countries. Nevertheless, sometimes the trade is unfair to some developing countries because they are falling behind in technology. Moreover, trade barriers can also be found in some trades.
As we enjoy the advantages of globalization, we should also notice that there are some disadvantages that exist. The only way to live is to develop. If we want to protect ourselves, we should have great power other than having others pity us. In that case, globalization can be good for us. The world's trend is changing, and we must catch up with it.