Topics: Developing country, Economics, Developed country Pages: 1 (358 words) Published: February 28, 2014

Globalization is a rapidly developing trend in today’s economy. Although the globalization is just getting started, the benefits of it is undeniable. However, everything has two sides. On the one hand, globalization promotes the development of the economy, on the other hand, it causes a lot of problems. Globalization is the most popular trend of today’s economy. Globalization integrates the world’s economy as a whole, so the resources of labor, nature and culture can be shared between countries. As we know, China is a populous country so there is great demand for jobs. To some degree, globalization solves the unemployment problem effectively of many Chinese people. Economic globalization has not only promoted the development of productivity, but also promoted the development of tertiary industry. Tourism is a good example. If you have enough time and money, you can go anywhere in the world. Eiffel Tower not only attracts local people, but more will be foreigner. Globalization is a process full of contradictions. With the benefits that it brings, the negative impact also comes. Some developed countries build up factories in developing countries such as China, Brasil. Eventually, those actions will cause serious environmental problems. For example, many companies build their chemical factories in developing countries. Recently, according to some news, some chemical factories pour plenty of poisons into rivers and lakes near their factories due to cost cutoff. Therefore, these wrongdoings destroy the environment of those developing countries. Besides, due to the intrusion of foreign enterprises, the local enterprises have been impacted. For instance, two products with same quality and similar features, most of people prefer to buy the one from foreign country just simply because they have bias on local product, and they do not believe that the local factories can make good products like foreign countries. As a result, it slows the development of local...
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