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As a result of technological advances in the past few decades interaction and integration of world nations are rapidly increasing. Due to interaction and integration a new term is emerging, globalization. Globalization can be helpful to reach opportunities all over the world but its drawbacks can not be ignored.


Firstly customers are able to buy products which are produced in distant countries, at a reasonable price because of a great increase in cross-border trade. For example we can see exotic fruits in Nordic markets. However increased cross-border trade makes economy more fluctuating since money transfers can be done in seconds. Because of fluctuating economy companies discharging dismiss/fire* people more than ever.


Secondly high unemployment rate makes employees more liable to low wages. Low-cost labour and duplicate production helps international companies by increasing to increase their profit. While international companies growing regional ones going bankrupt. The fact that bankruptcy of regional companies has bad effects on the national economy.


Globalization has considerable effects on not only economic policies of government but also on the cycle of natural resources. Duplicate production and excessive use of energy resources are breaking the well balanced cycles such as water, carbon or nitrogen cycles. If the cycle of nature starts collapsing humankind will vanish from earth.


With the great technology globalization is becoming part of our lives. No one can escape from its realty and humankind need to internalise its facts and take care about its drawbacks

* https://en.wikipedia.org/wiki/Dismissal_(employment) read usage for more words