Discuss the positive impacts of Globalisation.

The Positive impacts of Globalisation:

(i) Globalisation is supported on many groups (or its positive impacts) by its-protagonists. The process of globalisation is based on the basic premise of free market. It is presumed that free markets beget competition and increase efficiency which is lacking in controlled markets.

(ii) Increased efficiency (created by free markets) improve quality of goods and services. Free market is especially helpful to the backward economies.

(iii) Under the condition of globalisation, foreign investment flows into the domestic economy which makes it strong and boisterous. These investments specially assist the countries that face the shortage of internal resources.

(iv) Under the circumstances of globalisation, free trade facilities in flow of foreign capital and goods which is expected to provide buoyancy to the stagnating economies of the Third World.

(v) Globalisation guarantees increased employment opportunities. If it is the true then definitely it will be a great blessing for those countries having very large population like China, India and so on.

(vi) More employment and more economic growth would create better quality of life for the people.

(vii) As unemployment continues to be a serious problem for most of the developing countries, globalisation is projected as a panacea to the problem.

(viii) It is assumed that economic development would be achieved through the integration of economies, which would also take care of the issues of social justice.

(ix) The innovative and rationalising mechanisms of the global economic order will make provision for safety nets for the disadvantaged groups. It is, thus, believed that liberalisation of economy, instead of causing havoc, provides new hope to the disadvantaged groups.

(x) Further more, globalisation increases co-operations and solidarity among business partners at the international level. It also ehnances co-operation at the government level.

(xi) Globalisation is helping a lot in rising a new world order based on consensus and partnership. Values of reciprocity and solidarity among nations are supposed to usher in an era of world peace and amity.

(xii) According to the United Nations study in 1999, the era of globalisation is opening many opportunities for millions of people around the world. The study suggests that it offers enormous potential to eradicate poverty in the twenty-first century.