Globalization. Advantages and Disadvantages

Seminar paper from the year 2013 in the subject Economics - International Economic Relations, grade: 2,0, University of applied sciences Frankfurt a. M., course: Advanced Business English, language: English, abstract: Globalization is one of the major topics and challenges of our time. It describes the process of the worldwide increasing interconnection of economy, politics, culture and environment. This compression affects individuals, society and institutions as well as countries. It can help to increase prosperity, social justice and global networking in order to make the world more equal. In the following seminar paper, the prime importance will be the look at the effects of globalization on the world economy in general. Despite the advantages of globalization, the negative side with all the disadvantages should not be neglected. Therefore, it is essential to look at the advantages and disadvantages that are created by globalization. The question is to ask, if globalization really has the force to make the world more equal and who are the winners or the losers of it ? The available seminar paper tries to answer that question with a critical analysis of the topic. Chapter two pays attention to the fact what globalization really is and tries to identify the major characteristics of globalization. Chapter three concentrates on the consequences and effects of globalization on the world economy. The fourth chapter tries to identify the advantages and disadvantages. The seminar paper ends with a short result in chapter five, providing a short summary of the whole theme.