Paragraph on : Globalization

Globalization

Basically globalization is a term used in trade and commerce. It is a process of expanding trade all over the world by creating a borderless market.Because of globalization relationship among the countries of the world is getting closer.High-tech communication media and repid transportation facilities are enhancing the process of globalization. Countries in the world are now families in a village.They can share their joys and sorrows like the next door neighbours.If one country is in distress,other immediately come to its assistance.However ,globalization has many negative aspects particularly for the people of the poor and technologically undeveloped countries. As globalization is creating an open competition in trade and commerce, the developed countries are getting the upper hand because these countries are technologically developed and can easily defeat the undeveloped countries in the competition. Consequently, it so happens that the developed countries are utilizing the cheap labour force of the poor countries and getting high returns .As a result the gap between the rich and the poor is ever widening.