Essay 396 – Globalization affects the world’s economies

GT Writing Task 2 / Essay Sample # 396

You should spend about 40 minutes on this task.

Write about the following topic:

Even though globalization affects the world’s economies in a very positive way, its negative side should not be forgotten.

To what extent do you agree or disagree with this view?

Give reasons for your answer and include any relevant examples from your own knowledge or experience.

Write at least 250 words.

Model Answer:

The impact of globalization on the world has been widely debated, with many opining that even though globalization has brought numerous benefits, it is crucial not to overlook its negative aspects. This essay will agree with this view and present arguments to support the idea that its negative aspects should not be forgotten.

Globalization has given rise to various challenges and negative consequences. One of the most significant concerns is the growing income inequality both within and between nations. While globalization has lifted many out of poverty, it has also exacerbated wealth disparities, with the benefits of economic growth often accruing to the wealthiest segments of society. This disparity can lead to social unrest, political instability, and an erosion of social cohesion. In the context of globalization, consider developing nations that heavily rely on industries like manufacturing and agriculture. As multinational corporations outsource for cheaper labour and resources, local workers might face job losses or low wages, exacerbating income inequality.

Furthermore, globalization has had adverse environmental implications. The increased movement of goods and people has resulted in higher carbon emissions, deforestation, and depletion of natural resources. The pursuit of economic growth and competitiveness has often come at the expense of environmental sustainability. For instance, the demand for fast fashion driven by globalization has led to excessive production, rapid turnover of clothing, and increased waste. This not only contributes to pollution and excessive resource consumption but also exacerbates environmental degradation.

In conclusion, while globalization has undoubtedly brought about positive changes in the world’s economies, its negative consequences are significant as well. To fully embrace the benefits of globalization while mitigating its negative impacts, policymakers, businesses, and individuals must prioritize equitable economic growth, social inclusion, and environmental sustainability.