By Hasme Rafsan Jani
Globalization impacts different aspects of my everyday life. Even the computer being used to write this post, manufactured in China, and sold by an American company, is a product of globalization. Being an international student, I could witness the effects of globalization on a broad scale. Coming from a country from the other side of the globe, I expected to face some cultural differences. However, even though there a few cultural differences, I did not experience a culture shock. Many of the goods and services I was used to back home are readily available here. Also, due to globalization, there exists a cultural globalization, which has decreased the difference in cultures all over the world.
Globalization impacts everything from production of goods to climate change, and it affects everyone differently. One of the products of globalization is emigration, and I have family all over the world. Also, my father, a businessman, has work thanks to globalization. He is part of the garments industry in Bangladesh that manufactures and export textiles and accessories all over the world. Furthermore, there have been some negative effects of globalization as well. My grandparents keep complaining about the change in culture brought about by globalization, they believe the uniqueness of cultures have been lost.
Like a coin, globalization has both sides. Globalization has a few negative effects, especially in developing countries. However, in the US, the benefits outweigh the negatives. The growth of international trade is helping economic development and providing people with new opportunities. Access to a variety of low-cost goods and services has raised the people’s standard of living. Globalization has also brought about the need for countries to co-operate which in turn helps the US form good international relations. Lastly, globalization has brought increased competition which is a critical driver of performance and innovation.
Cuneyt Kilic. “Effects of Globalization on Economic Growth: Panel Data Analysis for Developing Countries.” Economics and Business Administration, Canakkale Onsekiz Mart University (2015): n. pag. Print.