You should spend about 40 minutes on this task.
Write about the following topic:
Globalization has many positive effects on world’s economy but the negative effects of it cannot be forgotten. What is your viewpoint on this topic?
Give reasons for your answer and include any relevant examples from your own experience or knowledge.
You should write at least 250 words.
Today Globalization has invaded the society and it directly affects the economy of every country of the world. The connection between globalisation and economy is not an exceptional topic to have two sides.
The social media is one of the main areas which affect world’s economy today. As a result of this culture, there are online businesses that have started and the people who are engaging in those kinds of earnings have become the millionaires of the world today. The owner of Facebook Mark Zuckerberg is the main icon in social media. Other than that, individuals who run eBay, amazon, etc. are maintaining their online shopping in the globe today by having lots of profits each day.
Furthermore, today multinational companies are established and they provide their services to the world with ease of globalisation. They carry out their main financial transactions using the most developed telecommunication technologies. For an example, their banking needs are fulfilled very easily using internet banking which is a major way of developing the economy of a country. Not only that, Education and Health sectors also cannot be forgotten. Today, students can learn over the web and sit for the exams online. Doctors do not need to be at a particular hospital to treat their patients. They can provide consultancy over the phone or most probably over the video conference call. The above-mentioned factors reduce costs of travelling, daily expenses and even it is more comfortable to the both parties.
But unfortunately, there are some drawbacks of getting the world together and transparent to the others who live in another part of the world. Mostly the children use social media get addicted to the abnormal habits of being in front of the computer all the day which made them physically and mentally differently-able. In the worst case, they may end up with drug use and even commit suicide. This factor mainly affects the economy of the country negatively.
In conclusion, although there are concerns with the globalisation to children, most of the countries in the world get benefits because of that. But we must attend to the effect of the economy based on the children and made the world a better place with globalisation for each and every human being in the world.
[ Written by – Sayuru Jayasinghe ]