In what ways has globalization influenced the global economy, and what are the potential benefits and drawbacks for both developed and developing countries?
One of the vital areas where the globalisation has made an effect is the global economy. With global trade, globalisation has given rise to increased profitability in many parts of the world. Companies are not restricted a lot by national borders as well as businesses can gain entry to global markets without much trouble. Multinational corporations enlarged their capabilities which cause an improvement in cross-border investments. In this essay, i will refer to some drawbacks and benefits.
In today’s world, the globalisation has many advantages. One of the crucial pros is the economic growth of developing countries. Nations nowadays are seeing increases in their economies. Outsourcing and offshoring posed opportunities for companies to minimize production costs and extend their running. Eventually, these nations saw an inundation of foreign cities which result in job creation and higher way of life.
On the other hand, some cons exist in the globalisation. While it has been a formidable compulsion for economic growth, it also accentuated economic inequality. One of the basic condemnation of the globalisation is that it was advantageous only to affluent countries and great companies, leaving poverty-stricken countries behind. As a result, it widens the gap between rich and poor both within and between countries. Another drawback is loss of local industries. Small and medium-sized businesses may struggle to compete with large, multinational corporations that dominate global markets, leading to the decline of local industries.
In conclusion, the globalisation affects virtually every aspect of our lives. While it has a lot of benefits, it has also posed challenges. The prospect of the globalisation will rely on our skill to solve these problems efficiently.
The essay is logically organized and the progression of ideas is clear. However, there are some issues with the use of cohesive devices and the overall cohesion of the essay. The essay follows a logical structure, but the use of cohesive devices is sometimes inaccurate or missing, making the connection between ideas less smooth. Additionally, the conclusion could be more effective in summarizing the main points and providing a clear final thought.
Suggestions
- Use a variety of cohesive devices to ensure smooth transition between ideas.
- Make sure to link all the ideas in a paragraph to the main point of the paragraph.
The essay uses a sufficient range of vocabulary and there is evidence of some less common and idiomatic language. However, there are some inaccuracies in word choice and collocation. The essay demonstrates a good command of a wide range of vocabulary related to the topic, with some less common and idiomatic language. However, there are a few instances of awkward or incorrect word choices that could be revised for clarity and accuracy.
The essay uses a mix of simple and complex sentence forms and there are only minor errors. However, there are some issues with punctuation. The essay uses a variety of complex and simple sentence structures, and the majority of sentences are free of grammatical errors. However, there are a few instances of incorrect punctuation that could be revised for clarity.
The essay addresses the task effectively, providing a clear position throughout the response. However, the argument could be more fully developed and supported with specific examples. The essay effectively addresses the prompt by discussing both the benefits and drawbacks of globalization in the global economy. The writer takes a clear position and supports it with relevant examples. However, the conclusion could be more comprehensive in summarizing the main points and providing a clear final thought.
Suggestions
- Ensure that the conclusion fully summarizes the main points and provides a clear final thought.
- Provide more specific examples to support the arguments.