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At a business level, we talk of globalization when companies decided to take part in the emerging global economy and establish themselves in foreign markets. These companies adapt their products or services to the final user's cultural requirements. Then, they might take advantage of the Internet revolution and establish a virtual presence on the international marketplace with a multilingual corporate website or even as an e-business (Introduction to Globalization, 2004). These companies are wise, by taking advantage of the increased technology and globalization to tap into foreign markets.

The movement to lower trade barriers and open world trade has undoubtedly increased world growth in goods and services. It has consequently increased incomes and raised standards of living globally, which unfortunately, doesn't mean for each individual. It is an advantage for the world because third-world countries are able to begin to develop. When factory's open in these third world countries many of the natives are provided with jobs to help their community and country.

Next, countries that have entered thoroughly and positively into this freeing of trade have gained the most. The entire world has benefited from these countries gains. Corporations have greater flexibility to operate across borders.

Another advantage is that originally the globalization of trade has involved, principally, trade in goods; but now we have an explosion of trade in services, telecommunications, financial services, computer and information technologies, creating industries and frequently better paid jobs of a nature and on a scale undreamt of twenty years ago. Increased flow of communication allows vital information to be shared between individuals around the world. We have come along ways from when we used to barter for goods. If you look back in history we used to trade, for example, by exchanging one good for another good. Now we trade practically anything with almost everybody.

Lastly, capital markets also are truly globalized. Foreign investment is increasingly important in the creation of jobs and improvement of living standards in developing countries. More generally, it allows companies to position themselves in an increasingly competitive world through geographical diversification. There is also a reduction of cultural barriers that increases the global village effect (Advantages and Disadvantages of Globalization, 2003).

DISADVANTAGES OF GLOBALIZATION

A disadvantage of globalization is Americans are losing their jobs because corporations move jobs overseas. 'With the pay of corporate CEO's at historical highs and American job creation at the lowest level since the Depression, corporations are laying off Americans blue-collar factory workers and white-collar professionals alike purely to cut costs. Thousands of quality jobs are lost every month, jobs that will be performed by people in China, India, Eastern本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。