Index IntroductionAdvantages of GlobalizationDisadvantages of GlobalizationConclusionReferencesIntroductionWhat really is globalization and is it important for us? Globalization is a capability that enhances the growing interdependence of the world's economies, cultures and people, driven by cross-border trade in goods and services, technology and flows of investment, people and information. Since ancient times, humans have sought places to settle, produce, and trade goods thanks to improvements in technology and transportation. For example, there are many countries growing thanks to globalization, such as China, whose growth has been one of the most dominant forces in the global economy. Over the past 40 years, China has achieved high and sustained rates of economic growth after implementing the reform and opening-up policy. In 1980, China's exports amounted to only 5.9% of GDP and its foreign investment abroad amounted to only a little more than $1.6 billion; by 2013, the latter figure had risen to $290 billion. Therefore, it cannot be denied that there are many advantages and disadvantages of globalization, which are discussed in this essay. The advantages of globalization are not inferior to the disadvantages, although there are those who argue that globalization will encourage the transfer of diseases. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original EssayAdvantages of Globalization Firstly, globalization has more advantages as it would reduce labor exploitation. Due to the imperfect integration of labor markets we are very far from the global labor market, as demonstrated by wide inequality in incomes. One study found that the average wage for jobs in advanced countries is two and a half times that for jobs with similar skill levels in more advanced developing countries and five times that for low-income countries. During 2008, a Chinese manufacturing worker earned about one-twentieth the salary of a U.S. manufacturing worker; a Mexican worker, a sixth. Then the global forces behind wage convergence. Migrations, trade, foreign investments and diffusion of technology. Increased migration is likely to play only a small role in wage convergence. Some studies have also shown that immigration has had only marginal long-term effects on incomes in advanced countries. Trade can promote wage convergence even if workers do not move. Thus, in developing countries with abundant exports of labor-intensive goods, trade causes their wages to rise relative to rich countries with less labor and capital. Foreign direct investment (FDI) in capital-scarce developing countries can raise workers' productivity and wages by transferring management skills, capital, and technology, and sometimes by outsourcing jobs from advanced countries. Finally, the globalization of the labor market and income distribution. Such globalization factors were related to rising living standards and deteriorating distribution of earnings in advanced countries: wages of low-skilled workers remained stable or even decreased, while those of high-skilled workers increased significantly. Labor income decreased by 3.5 percentage points as a percentage of GDP from 1993 to 2009. Globalization can improve our communication channels. With the advancement of technology, the world becomes bigger and bigger. There are many ways we can communicate withpeople all over the world. In the past, people always believed that globalization and communication between countries were impossible. With the advent of new technologies, the problems of global communication and learning have been solved. The increase in Internet usage has brought us much convenience in improving the way we connect with each other. With Internet technology, we can see a variety of perspectives that were previously beyond our ability to connect in real time with people thousands of miles away. People always feel unable to communicate with people with cultural differences. Initially, people used body language to communicate with people with cultural differences. With the advent of globalized communication, communication between people and cultural differences is no longer a difficult task. For example: a person in Malaysia and a person in China. The two people can share not only business content, but also their cultural perspectives. This communication opens up your sense of where in the world is accessible, thus laying the foundation for a developing worldview. Global communication is an important component in changing and improving the world's environment, culture, politics and economy. Most companies now use communication tools such as video calls to recruit employees from other countries and to quickly communicate with colleagues around the world. Through technology, we can speed up deliveries, track shipments and more, most importantly the company can foster and strengthen partnerships with multinational suppliers and consumers. Apart from this, communication technology helps other businesses to exploit opportunities to improve the global economic environment of different countries or cities. Through global communication, everyone's life becomes modern and more efficient, regardless of where they are. Disadvantages of globalization However, some argue that globalization has some drawbacks, for example it would encourage the transfer of diseases (Mirski T., Bartoszcze M. & Bielawska-Drozd A., 2011). As can be seen nowadays, a new coronavirus named COVID-19 appeared in Wuhan, China in early December and in just 2 months there were 71,000 confirmed cases and 1,773 deaths worldwide (Wetsman N., 2020 ). Unfortunately, one of the reasons that makes this virus spread rapidly is due to globalization as one infects others easily and highly transmissible. Furthermore, the infected person without showing any symptoms of the virus will bring it back to their country. Therefore, the coronavirus will break out in other countries such as China. Furthermore, the economic aspects of globalization mainly concern the development of trade, including food trade, which has an impact on the spread of foodborne diseases (Mirski T., Bartoszcze M. & Bielawska-Drozd A., 2011). The migration of people between countries and rural and urban areas, which will also substantially favor the global spread of many infectious diseases. However, this is a weak argument as globalization would encourage disease transfer, but it would be prevented as globalization has improved healthcare technology (Mittelman M. & Hanaway P., 2012). Indeed, since the trend of globalization, the average human lifespan has increased substantially due to the progress of technology and medicine. For example, a patient can get better medical treatment from another country that is more experienced in the field of treating special diseases. Apart from this, medical organizations from each country also join an alliance called WHO