Topic: Impact of Globalization on the Local Economy: Good or Bad - page 2. (Read 230 times)

Globalization I think still has to be improved. Some products still haven't reached the locals and they may be able to compete fairly if they have the products for example cheaper machinery for agriculture. Globalization would have been great if the products were distributed equally to the poor countries. Having no machines that can improve their lives, and improve the locally made products can make more local businesses but the importation of products from other countries will have less demand for their local products since its expensive than the imports.

If you talk about the flow of globalization, we can see the facts on the ground that there will be unstoppable changes that will affect the economic sector, technology and various other things that can affect local communities, especially economic development.

Thus, the impact of economic globalization cannot be separated from positive and negative things, this can be proven from several sources that reveal the impact on local economic globalization.
For example:
Positive.

Negative.

Whether we realize it or not, people will feel this change in globalization, but even if that happens, of course we will still focus on positive things because of developments over time.

The issue of globalisation is that it has come to tackle a lot of problems been faced by local economies, and after a lot of the issues have been resolved, it has now become a problem to the local economies. This is just natural per say and it is only the government that can level up the standard of the local economy to meet up with the global ones because a lot of gap has already been created which is now a big void to be filled. It is important to really level up the local sector of the economy in order to also strive in the ever changing global environment. If they don’t level up as quickly, they will become dead in no time and they will feel outlined from the whole improved economy that is suppose to benefit all in the society.

unfortunately, the peope who think that it's necessary to find a balance here are only those at the grassroot who are suffering from this indeference. the big figures who oppress smaller businesses don't care how SMe are doing and aren't concerned that most of the previledges they enjoy, smaller businesses aren't opportuned to get it. If there had been a balance between a nations interest in fostering globalization and at the same time ensuring that small business and local products are still viable, in instances when exchange rate becomes a major disadvantage for these big businesses that depend mostly on imported goods, local and small businesses would have sustained people for such a timeframe till things falls back to normal. But most of these business are left to themselves with zero encouragement and some are left to die naturally due to how difficult it is to survive and compete with these big business that have built a monopolistic system that sufucats life out of any small business around them

It's the same reason why most countries forget about her loc agricultural resources and focuse all her attention on oil and when the oil market gets bearish at some point, they now discover that they've not invested alot into the local agricultural sector that can sustain the internal needs of the people.

This is called consumerism under the disguise of globalisation. It's impossible to find a balance here. I belong from a generation which has seen the changes beginning from the color television. So I can safely say that it is impossible to find a balance unless you find a way to disconnect the internet facility for a community which wants to preserve their traditional things.

Globalisation has both positive and negative sides to it. Who are able to navigate in between them, will survive and rest will become obsolete.

The economic system in your country, and in fact, in many countries are centralizing towards the groups who have the wealth to keep up against the negative effects of Globalization. That suggests that the rich are getting richer and the poor are getting poorer, widening the wealth gap. Plus the more an economy is centralized towards a small group of people, the less robust it becomes. Recovery from recessions could take longer because there's less money in the hands of the people. Although the Cabal could turn on the money printer and cause an artificial recovery.

Higher import tax affects the economy generally, putting a a strain on the global trade links passing through that country.

It is not always a matter of imported products being good, the standard of living in that country is different contributing to factors that affects the final price. Cheap labour is one of such important factors, countries that can get labour cheap and easily will sell cheaper than those that has a premium on labour, the quality of the latter is sometimes better, just not scalable.

Globalisation can impact a local economy positively through increased trade & investment leading to growth and job opportunities. Negative wise it can also bring competition that may harm local industries & lead to job outsourcing & income inequality. The overall effect depends on factors like economic integration & government policies.

To be honest, globalization make the economy good including local people.

If people can get cheaper thing outside from the countries, why not?

If the government feel threatened the local people production can't compete with the imported product and it make the country solely depend on the import, why they didn't charge higher import tax and train the workers to produce the product as good as the import ones.

And the answer is how a country keeps everything running in balance. A small example in terms of exports and imports. Some countries are even too dependent on imported materials. And those who do it are indeed countries that have limitations within their country. But for some countries that have very complete natural wealth in their countries, such as Indonesia. So Indonesia actually needs to focus more on local products which have already filled the market. But currently what I see is that imported goods here also dominate the market. But this year maybe everything is still within reasonable limits. But I am afraid that in the following years the balance will start to shake and make local products marginalized.

Every citizen must remain aware that they must love local products. And to build this, an improvement in local quality itself is needed. Because after all, quality is what will be loved.

Globalization can be very useful for the economic growth of one country but may not be for other countries. depending on the conditions of the country itself. it's just that the challenge is maintaining the balance itself which is actually the most difficult thing to do.

Good luck with that, because the balance you're talking about is something that could only be achieved if your or any other government would get down to the level of the common man and ask him what he really wants - and at the same time have people who care about to preserve their way of life and tradition.

Honestly, I have experienced this in my country, where there were thousands of small shops that were everywhere, and now they have been replaced by supermarkets and huge department stores where the children of those former owners work for a minimum wage and mostly sell bad goods that cannot be sold in countries that have a higher standard.

The world has simply turned into one big pond where the big fish eat the little ones, and eventually the big ones will start attacking each other until there are only one or two left who will rule over everything. The price of progress is too great, and at the same time it is unstoppable and those who try to stand in its way will simply be run over.

When I visit our local market, I see how globalization has created new jobs and improved our lives. I see families who were struggling to get by now doing better. But I also see local businesses struggling to compete with cheaper imports from other countries.

I see streets that were once lined with small, family-owned shops now filled with big-box stores and chain restaurants. I see workers who used to make a living wage now struggling to get by on minimum wage jobs.

Is the community losing its character and charm?

While globalization has its benefits, it also has its downsides. We're losing some of our local character, and small businesses are struggling to survive.

We need to find a balance between progress and preserving what makes our community special. We need to support our local businesses. We can make sure our community thrives in a changing world.